Standard Deduction Tax 2024. Standard deductionthe standard deduction reduces a taxpayer’s taxable income by a set amount determined by the government. Everything you should claim as income tax relief 2024 (ya 2023) income tax malaysia:
The 2024 tax year standard deductions will increase to $29,200 for married couples filing jointly, up $1,500 from $27,700 for the 2023 tax year. The standard deduction in 2024 is $14,600 for individuals, $29,200 for joint filers, and $21,900 for heads of households.