Summary
If you make RM 1,023,750 a year living in Malaysia, you will be taxed RM 354,371. That means that your net pay will be RM 669,379 per year, or RM 55,782 per month. Your average tax rate is 34.6% and your marginal tax rate is 38.6%. This marginal tax rate means that your immediate additional income will be taxed at this rate. For instance, an increase of RM 100 in your salary will be taxed RM 38.59, hence, your net pay will only increase by RM 61.41.
Bonus Example
A RM 1,000 bonus will generate an extra RM 614 of net incomes. A RM 5,000 bonus will generate an extra RM 3,071 of net incomes.