Salary rate
Annual
Month
Semimonthly
Weekly
Day
Hour
Withholding
Salary
RM 74,624
Employees' Provident Fund (EPF)
- RM 8,243
Social Security Organization (SOCSO) contribution
- RM 237
Employment Insurance System (EIS) contribution
- RM 94.80
Tax
- RM 3,311
Total tax
- RM 11,886
Net pay
* RM 62,738
Marginal tax rate
23.7%
Average tax rate
15.9%
84.1%
Net pay
15.9%
Total tax
Total tax
Net pay
Summary
If you make RM 74,624 a year living in Malaysia, you will be taxed RM 11,886. That means that your net pay will be RM 62,738 per year, or RM 5,228 per month. Your average tax rate is 15.9% and your marginal tax rate is 23.7%. 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 23.73, hence, your net pay will only increase by RM 76.27.
Bonus Example
A RM 1,000 bonus will generate an extra RM 763 of net incomes. A RM 5,000 bonus will generate an extra RM 3,814 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.