Covid-19 Test Kits & Vaccinations Are Tax-Deductable For Year 2021
There’s no reason to NOT self-test before going out!
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Tax season is once again upon us, but there is some good news for all our taxpayers. For the year of assessment 2021, you can now claim Covid-19 test kits and common vaccinations, including Covid-19!
According to the Inland Revenue Board (LHDN) website on tax relief for individual resident, two new subcategories have been added to the medical expenses relief catgory.
The main medical expenses relief cateogry is claimable up to RM8,000 which includes medical expenses for serious diseases for your family or fetility treatments.
(Credit: LHDN)
Vaccination expenses
The new vaccination expenses subcategory has a maximum claimable amount of up to RM1,000.
This includes vaccinations for common diseases:
1) Pneumococcal
2) Human papillomavirus (HPV)
3) Influenza
4) Rotavirus
5) Varicella
6) Meningococcal
7) Tetanus-diphtheria-acellular-pertussis (TDAP combination)
8) Covid-19
The subcategory is applicable if the vaccinations were bought for yourself, your spouse, or your children.
(Credit: Malay Mail/Envato)
Medical examination, Covid-19 test kits and vaccination
This new subcategory is also claimable up to RM1,000.
This includes expenses for a complete medical examination for yourself, your spouse, or your children.
Additionally, it also includes expenses for any kind of Covid-19 self-testing kits as well as Covid-19 vaccination. (Yes, Covid-19 vaccinations are in both categories!)
(Credit: Envato)
It’s tax time
At this point, everyone probably has spent money on Covid-19 tests or other medical checkups, but make sure you save the reciepts for tax season!
Expect Form E from your company soon, and make sure you finish filing your taxes before the deadline on 31 March 2022 for the year of assessment 2021!
If you’re feeling lost and wondering how exactly should you be filing your taxes, we have a step-by-step guide here:
READ MORE: Everything You Need To Know About Malaysian Income Tax
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