Salary rate
Annual
Month
Semimonthly
Weekly
Day
Hour
Withholding
Salary
RM 355,005
Employees' Provident Fund (EPF)
- RM 39,059
Social Security Organization (SOCSO) contribution
- RM 237
Employment Insurance System (EIS) contribution
- RM 94.80
Tax
- RM 69,242
Total tax
- RM 108,632
Net pay
* RM 246,373
Marginal tax rate
35.5%
Average tax rate
30.6%
69.4%
Net pay
30.6%
Total tax
Total tax
Net pay
Summary
If you make RM 355,005 a year living in Malaysia, you will be taxed RM 108,632. That means that your net pay will be RM 246,373 per year, or RM 20,531 per month. Your average tax rate is 30.6% and your marginal tax rate is 35.5%. 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 35.50, hence, your net pay will only increase by RM 64.50.
Bonus Example
A RM 1,000 bonus will generate an extra RM 645 of net incomes. A RM 5,000 bonus will generate an extra RM 3,225 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.