Benefit-in-kind and Perquisites from Employment Part 3 of 4 

eKTP 73

012. Others taxable as Benefit-in-kind (Continue)

 b) Household furniture and fittings

• Semi-furnished (furniture in lounge, dining room or bedroom)
  Taxable value = RM 840 (Annual prescribed value)
• Semi-furnished (furniture in item 1 plus air conditional / curtains / carpets) Taxable value = RM 1,680 (Annual prescribed value)
• Fully furnished (furniture in item 2 plus kitchen equipment / crockery / utensils / appliances)
  Taxable value = RM 3,360 (Annual prescribed value)

02
3. Tax Exemptions

• Dental benefit
• Child care benefit – child care centres provided by employers to their employees’ children
• Food and drink provided free of charge
• Free transportation between pick-up points or home and the place of work (to and from)
• Leave passage benefit consisting ofLeave passage in MY of not more than 3 times in one calendar year, orOversea leave passage of not more than once in any calendar year limited to a maximum amount of RM3,000

Leave passage benefit consisting of

• Leave passage in MY of not more than 3 times in one calendar year, or
• Oversea leave passage of not more than once in any calendar year limited to a maximum amount of RM3,000

• Leave passage expenditure (costs of fares, meals & accommodation) to facilitate a yearly event within Malaysia which involve the employer, employee and immediate family members deductible as entertainment expense
• Discounted price for consumable business products of employerValue of discount on goods will be exempted up to maximum RM1,000 and the goods can be provided fully or partially discounted by applying the sale priceEither manufactured by the employer or trading stock of the employer

Discounted price for consumable business products of employer

• Value of discount on goods will be exempted up to maximum RM1,000 and the goods can be provided fully or partially discounted by applying the sale price
• Either manufactured by the employer or trading stock of the employer

• Discounted price for services provided by the employer to employee is fully exempted
• The medical benefits to be extended to include expenses on maternity and traditional medicines such as ayurvedic and acupuncture
• Retirement gratuity
  The full amount of gratuity received by an employee in retirement from employment is exempt if:The DirectorOversea leave passage of not more than once in any calendar year limited to a maximum amount of RM3,000

Retirement gratuity
The full amount of gratuity received by an employee in retirement from employment is exempt if:

• The Director
• Oversea leave passage of not more than once in any calendar year limited to a maximum amount of RM3,000

To-be continued...