Malaysia Budget 2017 Incentive for Parents
Today our Prime Minister has concluded the Malaysia Budget 2017. There are a few things we picked it up from the Budget 2017 which is relevant to parents like us. The first good news is there is no increment on the 6% GST next year.
Then, there are two good news on Childcare and they are:
1.RM 1000 tax relief for breastfeeding equipment, claimable biennially from assessment Year 2017
2.RM 1000 tax relief for those who enrolled their children aged 6 and below into registered nurseries and preschools from assessments Year 2017
For new parents, this is really a good news. We spent a lot on breastfeeding equipment and we do know that the double pump is not cheap and the tax relief will come handy for new parents. We are very supportive of breast feeding as both of our boys were purely breastfed in their younger age.
The tax relief for registered nurseries and preschools are good for parents as we know that it is not cheap anymore. Since we have two boys, we do fork out quite a lot monthly for their preschool.
Remember to claim the RM 1000 tax relief for breastfeeding equipment and registered nurseries and preschools from assessments for Year 2017.