Salary rate
Annual
Month
Semimonthly
Weekly
Day
Hour
Withholding
Salary
RM 24,632
Employees' Provident Fund (EPF)
- RM 2,732
Social Security Organization (SOCSO) contribution
- RM 121
Employment Insurance System (EIS) contribution
- RM 48.59
Total tax
- RM 2,902
Net pay
* RM 21,730
Marginal tax rate
11.3%
Average tax rate
11.8%
88.2%
Net pay
11.8%
Total tax
Total tax
Net pay
Summary
If you make RM 24,632 a year living in Malaysia, you will be taxed RM 2,902. That means that your net pay will be RM 21,730 per year, or RM 1,811 per month. Your average tax rate is 11.8% and your marginal tax rate is 11.3%. 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 11.33, hence, your net pay will only increase by RM 88.67.
Bonus Example
A RM 1,000 bonus will generate an extra RM 887 of net incomes. A RM 5,000 bonus will generate an extra RM 4,434 of net incomes.
NOTE* Deductions are calculated based on the tables of Malaysia, income tax. For simplification purposes some variables (such as marital status and others) have been assumed. This document does not represent legal authority and shall be used for approximation purposes only.