Income+
Tax reliefs that are often overlooked
Lim Siew May | 03 Nov 2017 00:30
Not many employees are taking advantage of monthly tax deduction, which eases the burden of collecting receipts, filing taxes and possibly topping up payment in April – 123RF
Smart tax moves may not sound as sexy as doubling your capital from a hot stock pick, but they still offer some relief to your cash flow and save you troubles with the tax authorities.

PwC International Assignment Services Sdn Bhd executive director of global mobility Hilda Liow points out that a lack of tax awareness can be attributed to not complying with tax laws, not making right claims, or making excessive claims.

“On one hand, if you don’t maximise claims, you can lose out on thousands of ringgit. On another hand, if you file your tax wrongly, such as making excessive claims, the consequences can be significantly higher,” she says.
 
With two more months before the end of year of assessment (YA) 2017, two practitioners highlight some underutilised tax reliefs and steps you can take to optimise tax payable.