TAX QUESTIONS? YOU ASK LAH!

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Q: My company has received financial assistance of RM 600 per month from Wage Subsidy Programme (WSP) in May 2020, is this amount taxable? I have paid the amount to my staff as part of his salary within 7 days, can my company claim tax deduction for this amount paid? 

A: All grants and subsidies given by the government are tax exempted. However, the grants or subsidies that are being used to pay out salary are likewise not deductible.

Wishing you plentiful tax savings!

Zen Chow

YYC Tax Guru

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