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Wednesday, April 1, 2009
12/20 Way to slash individual TAXES
12) Pay your parents’ medical bills
You are able to claim up to RM 5000 for payments towards your parents’ medical bills.
Tax deduction :
RM 5000 per individual
For Mr A : By paying his parents’ medical bills , Mr A makes a saving of RM 1200 ( RM5000@ 24%)
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