Malaysia legislation
Section 10
Section 10
Amendment of section 49
(a)
in subsection (1)—
(i)
in paragraph (a), by deleting the words “or deferred annuity”; and
(ii)
in paragraph (b), by substituting for the words “or the Employees Provident Fund as the case may be” the words “(other than a private retirement scheme)”;
Finance 11
(b)
in subsection (1a)—
(i)
by deleting paragraph (a); and
(ii)
in paragraph (b), by deleting the words “or where paragraph (a) applies, shall not exceed seven thousand ringgit”; and
(a)
paid any deferred annuity; or
(b)
made or suffered the making of a contribution to a private retirement scheme, there shall be allowed for that year of assessment a deduction of the aggregate amount of the payments or contribution or both or a deduction of three thousand ringgit whichever is the less.
(c)
by inserting after subsection (1c) the following subsections:
“(1d) In the case of an individual resident for the basis year for a year of assessment who has—
(1e)
For the purposes of subsection (1d), where subsection 50(2) or (3) applies, the total deduction under that subsection shall not exceed three thousand ringgit.”.
Amendment of section 54a