Salary rate
Annual
Month
Semimonthly
Weekly
Day
Hour
Withholding
Salary
RM 55,680
Employees' Provident Fund (EPF)
- RM 6,135
Social Security Organization (SOCSO) contribution
- RM 237
Employment Insurance System (EIS) contribution
- RM 94.80
Tax
- RM 1,214
Total tax
- RM 7,681
Net pay
* RM 47,999
Marginal tax rate
19.6%
Average tax rate
13.8%
86.2%
Net pay
13.8%
Total tax
Total tax
Net pay
Summary
If you make RM 55,680 a year living in Malaysia, you will be taxed RM 7,681. That means that your net pay will be RM 47,999 per year, or RM 4,000 per month. Your average tax rate is 13.8% and your marginal tax rate is 19.6%. 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 19.60, hence, your net pay will only increase by RM 80.40.
Bonus Example
A RM 1,000 bonus will generate an extra RM 804 of net incomes. A RM 5,000 bonus will generate an extra RM 4,020 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.