Is 13440 MYR a good salary?

Member since 30 July 2013

Oracle_khanNew member30 July 2013 10:46:56

Dear Friends,

I have been offered a salary of MYR 13440 Plus 10% annual bonus. This is a taxable salary and I'm not sure how much income tax will be deducted for this amount. I'm planning to move my family (wife, 1 year old daughter and my mother) to KL. I have 2 questions:

1. What would be by take home salary after all tax deductions? (Consider I have no investments there)

2. Is this take home salary a bad/average/good salary?

Thanks in advance,
Khan.

carlyle1979 Serial expat

Member since 30 January 2013

carlyle1979Serial expat30 July 2013 16:25:23

440

good package. taxes will b around 2000. u cant save taxes by investments in malaysia.

rasai Active member

Member since 20 July 2013

rasaiActive member31 July 2013 01:10:41

It a good & reasonable package. Maximum tax can be raised up to 29% of your salary and depends on your annual income.

Also just a highlevel mandatory expenses in KL: (depends on your lifestyle)

1. House rental approx rm2,000 (you may need to find a place where closer to your kids schools - most of the international schools are located in prime areas)

2. Mobility (buy a car or rent) - approx rm 1,500

3. Kids school - per term..

4. Etc

I would suggest request for EPF (i presume employee contribution is 11% whereas employer is 12%, altogether savings of 23% from your monthly salary and also importantly from your annual bonus. This savings would secure your future troubles when you leave out Malaysia for any reasons if in case. Note: EPF withdrawal can be allowed upon exiting only.

Note: according to the Malaysian law, the minimum company contribution is rm5, however employer EPF percentage is depending on the company as they want to maintain their company status as an employer of choice.

Good luck!