Income tax calculator Malaysia
Find out how much your salary is after tax
Salary rate
Annual
Month
Semimonthly
Weekly
Day
Hour
Withholding
Salary
RM 2,480,001
Employees' Provident Fund (EPF)
- RM 272,823
Social Security Organization (SOCSO) contribution
- RM 19.75
Employment Insurance System (EIS) contribution
- RM 7.90
Tax
- RM 736,796
Total tax
- RM 1,009,647
Net pay
*
RM 1,470,354
Marginal tax rate
41.0%
Average tax rate
40.7%
59.3%
Net pay
40.7%
Total tax
Total tax
Net pay
The Taxberg
RM 1,470,354
Net pay
RM 322,455
Tax the employer pays
RM 1,009,647
Tax you pay
Total tax paid
RM 1,332,102
Did you know your employer also pays tax on your salary? It costs the employer RM 322,455 to pay you RM 2,480,001. In other words, every time you spend RM 10 of your hard-earned money, RM 5.37 goes to the government.
Real tax rate
47.5%
So, with you and the employer both paying tax, what used to be a 40.7% tax rate now rises to 47.5%, meaning your real tax rate is actually 6.8% higher than what it seemed at first.
Summary
If you make RM 29,760,012 a year living in Malaysia, you will be taxed RM 12,115,761. That means that your net pay will be RM 17,644,251 per year, or RM 1,470,354 per month. Your average tax rate is 40.7% and your marginal tax rate is 41.0%. 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 41, hence, your net pay will only increase by RM 59.
Bonus Example
A RM 1,000 bonus will generate an extra RM 590 of net incomes. A RM 5,000 bonus will generate an extra RM 2,950 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.