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Wednesday, April 1, 2009

10/20 Way to slash individual TAXES


10) Buy Life Insurance
The maximum tax relief is RM 6000 a year for premiums paid to an insurance company for life Insurance or deferred annuity plans.

This Limit is shared with your contributions to the EPF, other employer schemes and contributions under any written law relating to widows or orphan pensions

Tax deduction : RM 6000 per individual ( shared with your EPF contributions )

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