11) Take out a Medical or Education policy
You can claim deductions of up to RM 3000 a year for education and medical insurance ( combined limit for both )
This includes medical coverage that is part of life insurance policy( the limit for life insurance is in move 10 )
A policy of this kind can be written for you , your spouse or your child.
Tax deduction :
RM 3000 per individual
For Mr A :After acquiring an education policy for his children , Mr A makes a saving of RM 720 ( RM 3000@ 24%)
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