By Selangor Journal Team
SHAH ALAM, Oct 18 — The Federal government has raised the tax deduction for medical and education insurance to RM4,000 per annum per individual, said Prime Minister Datuk Seri Anwar Ibrahim.
He announced the deduction during the tabling of Budget 2025 in the Dewan Rakyat today.
Additionally, individuals can claim up to RM10,000 in tax relief for medical expenses, including payments made for insurance and takaful medical products, like for co-payment plans.
Anwar also announced that tax exemptions on foreign-sourced income, which has already been taxed abroad, will be extended from December 31, 2026, to December 31, 2036.
The government also plans to expand the scope of tax exemptions to include individuals' spending on medical expenses, including diagnostics, and the purchase of health diagnostic kits and disease detection kits.
