Income Tax Rates For Resident Individuals With Effect from Year of Assessment
2002
| Chargeable Income | RM | Rate |
| On the first | 2,500 | 0% |
| On the next | 2,500 | 1% |
| On the first | 5,000 | - |
| On the next | 15,000 | 3% |
| On the first | 20,000 | - |
| On the next | 15,000 | 7% |
| On the first | 35,000 | - |
| On the next | 15,000 | 13% |
| On the first | 50,000 | - |
| On the next | 20,000 | 19% |
| On the first | 70,000 | - |
| On the next | 30,000 | 24% |
| On the first | 100,000 | - |
| On the next | 50,000 | 27% |
| On the first | 150,000 | - |
| On the next | 100,000 | 27% |
| On the first | 250,000 | - |
| Exceeding | 250,000 | 28% |
CURRENT personal income tax at LHDN (http://www.hasil.org.my/english/eng_NO2_1_1K.asp).
If are a young adult and about to enter the working world like me, the above chart is something that you should take note.
Some extracts from the proposed Budget 2009:
* The current tax rebate of RM350 per person be increased to RM400 for those with taxable income of RM35,000 and below.
* All interest income from savings for individuals be tax exempt.
* The highest marginal tax rate for individuals be reduced from 28% to 27%, effective the year of assessment 2009. In addition, the marginal tax rate of 13% will also be reduced to 12%, which will benefit the middle income group.