Budget 2027: Individual tax relief raised to RM12k, with perks for postnatal care and more

Key points

• Anwar said these measures were taken because the government listened to the concerns of the middle-income (M40) group, who have remained resilient despite cost-of-living pressures.
• He also announced that the tax rate for taxable income between RM70,000 and RM100,000 had been reduced to 18 per cent, while the rate for the RM100,000 to RM150,000 band was cut to 24 per cent.
• “At the same time, the government is adopting a progressive approach, adjusting the tax rate for high earners with income exceeding RM1 million to 30 per cent,” he said.

Sentences selected automatically from the original article by DayakDaily.