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If you make
RM 310,000 a year living in Malaysia, you will be taxed RM 92,357. That means that your net pay will be RM 217,643 per year, or RM 18,137 per month. Your average tax rate is 29.79% and your marginal tax rate is 35.50%. 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 35.50, hence, your net pay will only increase by RM 64.50.
RM 1,000 bonus will generate an extra RM 645 of net revenues. A RM 5,000 bonus will generate an extra RM 3,225 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.