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If you make
RM 115,000 a year living in Malaysia, you will be taxed RM 23,970. That means that your net pay will be RM 91,031 per year, or RM 7,586 per month. Your average tax rate is 20.84% and your marginal tax rate is 33.25%. 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 33.25, hence, your net pay will only increase by RM 66.75.
RM 1,000 bonus will generate an extra RM 668 of net revenues. A RM 5,000 bonus will generate an extra RM 3,338 of net revenues.
Tax per income
NOTE* Deductions are calculated based on the tables of Malaysia, 2020 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.