Monday, March 1, 2021

Tax exemptions allowed for Covid-19 treatment, vaccine

Tax relief of RM1,000 for vaccination including for Covid-19 also applies to taxpayers, their spouses and children.

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Covid-19 treatment and vaccine costs for parents of taxpayers can be tax deducted under expenses for medical, special needs and parental care, the Dewan Rakyat was told today.

Deputy Finance Minister II Mohd Shahar Abdullah said income tax relief for individuals could be claimed up to RM8,000.

He said the tax relief of RM1,000 for vaccination including for Covid-19 also applies to taxpayers, their spouses and children.

“If the parents are confirmed positive and need to undergo treatment including taking the vaccine, the expenses can be claimed under parents’ medical expenses,” he said when winding up the debate on the Finance Bill 2020, which was later passed by a majority voice vote.

The Finance Bill 2020 sought to amend the Income Tax Act 1967, Real Property Gains Tax Act 1976, Stamp Act 1949, Petroleum (Income Tax) Act 1967, Labuan Business Activity Tax Act 1990, Finance Act 2012 and Finance Act 2018.

During the debate session, Jalaluddin Alias (BN-Jelebu) asked whether the Covid-19 vaccine cost for parents could be used to claim tax relief of RM1,000, as children and adolescents aged 18 and below would not be given the vaccine.

Through the 2021 budget, the government intends to expand the scope of tax relief for medical treatment including vaccination expenses incurred by taxpayers for themselves, their spouses and children up to RM1,000.

These also cover vaccines for pneumococcal, human papillomavirus (HPV), influenza, rotavirus, varicella, meningococcal, diphtheria-tetanus-acellular-pertussis and Covid-19, when they are available.

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