Net income in KL
Jan 6th 2013, 10:26 am
#1
Serial Expat
Thread Starter
Joined: Oct 2008
Location: Kuala Lumpur
Posts: 15
Net income in KL
Hi there. We're moving to KL on a gross yearly salary of £80k which by my rekening is about 400k MYR. Can anyone give me an idea what our net will be before pension deductions? Is it just the 26% tax or are there other deductions?
Jan 7th 2013, 2:42 am
#2
Joined: May 2006
Location: Melbourne - London - Bangkok - Melbourne - Kuala Lumpur - Melbourne
Posts: 658
Re: Net income in KL
You won't pay 26% on all income, it works on a sliding scale. There are no other compulsory deductions that I can think of although there is some talk of a compulsory healthcare tax being introduced.
Jan 14th 2013, 7:01 am
#3
Just Joined
Joined: Jan 2013
Posts: 1
Re: Net income in KL
You can refer to this link here http://www.hasil.gov.my/goindex.php?...t=5000&sequ=11
For year 2010 & 2011. YOu will be taxed a total of RM14,325 for First RM100k.
Subsequently, every Ringgit Malaysia is taxed at 26%.
If you are earning RM400k, that means you are tax RM14,325+RM26,000+RM26,000+RM26,000 = RM92,325.
Hence, your net income should be around RM308k/year.
For year 2010 & 2011. YOu will be taxed a total of RM14,325 for First RM100k.
Subsequently, every Ringgit Malaysia is taxed at 26%.
If you are earning RM400k, that means you are tax RM14,325+RM26,000+RM26,000+RM26,000 = RM92,325.
Hence, your net income should be around RM308k/year.
Jan 14th 2013, 12:55 pm
#4
Serial Expat
Thread Starter
Joined: Oct 2008
Location: Kuala Lumpur
Posts: 15
Re: Net income in KL
Originally Posted by bear13
You can refer to this link here http://www.hasil.gov.my/goindex.php?...t=5000&sequ=11
For year 2010 & 2011. YOu will be taxed a total of RM14,325 for First RM100k.
Subsequently, every Ringgit Malaysia is taxed at 26%.
If you are earning RM400k, that means you are tax RM14,325+RM26,000+RM26,000+RM26,000 = RM92,325.
Hence, your net income should be around RM308k/year.
For year 2010 & 2011. YOu will be taxed a total of RM14,325 for First RM100k.
Subsequently, every Ringgit Malaysia is taxed at 26%.
If you are earning RM400k, that means you are tax RM14,325+RM26,000+RM26,000+RM26,000 = RM92,325.
Hence, your net income should be around RM308k/year.
Jan 15th 2013, 4:19 am
#5
...............
Joined: Feb 2009
Location: Far North Queensland
Posts: 17,625
Re: Net income in KL
That's great info Bear13 and welcome to the forum 
