Net income in KL

Old Jan 6th 2013, 10:26 am
  #1  
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Default 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?
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Old Jan 7th 2013, 2:42 am
  #2  
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Default 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.
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Old Jan 14th 2013, 7:01 am
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Default 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.
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Old Jan 14th 2013, 12:55 pm
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Default Re: Net income in KL

Originally Posted by bear13 View Post
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.
Excellent thats really helpful thank you!
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Old Jan 15th 2013, 4:19 am
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Default Re: Net income in KL

That's great info Bear13 and welcome to the forum
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