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Showing posts with the label child

5 Things to Consider before Marriage

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Do you noticed that many people are getting married lately? How many wedding invitations have you received this year? Or, are you planning to form your own family now? Yes. I had 4 wedding dinners to attend to next month. Good month indeed? During good times, many couples decided to tied their knot as they feel that their situation became better, especially financially . Not only Government may consider to hold general election, love birds are joining the bandwagon due to the feel good factor. When consumer confidence is rising, people tends to spend and hold events or celebrations. All of this involves money. Marriage, depending on how grand you want it to be, can be very costly. What an interesting topic to discuss here!!! First, I must congratulates those love birds. But, we must be realistic that there is some issues that must be dealt with differently before and after marriage. What are they? What kind of Lifestyle? Too simplified ones lifestyle, it viewed as toning down our soci...

Personal Income Tax: Child Relief

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When we are having children, it's a gift from God. And, Malaysia is a blessed place to live, a place where no earthquake and volcano. Although we once hit by tsunami, but it brings minimal effect to us. Thank God. In line with the effort to increase Malaysian workforce, in achieving self-sustainable economy with strong domestic consumption, Government has laid out several tax relief especially meant for child. Dubbed as one of the " major investment " of family, a child could easily cost a family few hundred thousands (if not millions). Let's take a look at some of the tax advantages of having a child. Child Tax Relief Married couple can claim child relief of maintaining any child. The children can be their own child, step child, or legally adopted child. Then, there are subdivided into 4 different categories. Source: IRB, Finance Malaysia Blog Generally, parents can claim tax relief of RM1,000 per unmarried child per year, until he or she turns 18. An unmarried chil...