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If you earn more than RM34,000 a year, you’re not going to escape paying your taxes, but what you can do is try to get them back in your tax refund.
When it comes to getting the biggest possible tax refund each year, the key lies in making the most of the tax reliefs, tax deductions, and tax rebates.
And to do that, you have to know what they are and how to make use of them.
Generally, tax deductions, tax reliefs, and tax rebates help you reduce your aggregate income, chargeable income, and amount of tax charged respectively.
Claiming these incentives can let you enjoy a lower tax rate and pay less in tax altogether.
If you want to find out more about how exactly the different incentives work to lower your taxes, you can read our article on it here – but for now, let’s see how you can use them to maximise your tax refund.