RM2,000 tax relief for children sent to JKM-registered kindergarten and pre-school

Finance Minister Lim Guan Eng is pictured at the Parliament lobby, October 15, 2019. According to the bill, tabled by Lim, the amendment is effective for the year of assessment 2020 and subsequent years. — Picture by Ahmad Zamzahuri
Finance Minister Lim Guan Eng is pictured at the Parliament lobby, October 15, 2019. According to the bill, tabled by Lim, the amendment is effective for the year of assessment 2020 and subsequent years. — Picture by Ahmad Zamzahuri

KUALA LUMPUR, Oct 15 — Instead of RM1,000 as previously implemented, parents can now claim a tax relief of RM2,000 if they have a six-year-old child sent to a kindergarten or pre-school registered with the Department of Social Welfare (JKM).

The tax relief is among the provisions contained in the Finance Bill (2019) tabled in the Dewan Rakyat for the first time today.

According to the bill, tabled by Finance Minister Lim Guan Eng, the amendment is effective for the year of assessment 2020 and subsequent years.

The Bill that was handed to the media today also outlined the income tax exemption of up to RM6,000 given on medical treatment expenses for serious illnesses including the cost of fertility treatment.

The Bill was tabled to enact an amendment to the Income Tax Act 1967, the Real Property Gains Tax Act 1976, the Stamp Act 1949, the Petroleum (Income Tax) Act 1967, the Sales Tax Act 2018, the Finance Act 2010 and the Finance Act 2018.

In addition, the bill also introduced a new subsection on the granting of tax rebates on levies under the Departure Levy Act 2019 by an individual who left Malaysia by air to perform Umrah or other religious pilgrimages.

The debate on the bill for the second reading is expected to be tabled at the current session of the Dewan Rakyat until December 5. — Bernama

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