KTP & Company PLT

Budget 2025 introduces several employment reforms promoting inclusivity and employee support. Key changes include :

✅Implement RM1,700 minimum wage from February 2025, with smaller businesses starting in August 2025.

✅Offer expanded tax relief for childcare and elderly care, capped at RM3,000.

✅Provide 50% tax deduction for flexible work setup costs, capped at RM500,000.

✅Allow 50% tax deduction for extended caregiver leave, up to 12 months.

✅Grant 50% tax deduction for hiring women returning from a 2-year career break.

✅Apply phased EPF contributions for foreign workers to align with local rates.

✅Provide RM600 SOCSO incentives for hiring individuals with disabilities or former convicts.

✅Allocate more funds to HRD Corp for skill development programs.

Read the full story in our #ktp blog
https://lnkd.in/dEb5teXF

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I’m Koh Teck Peng

Welcome to my blog, I’m the founder and principal of KTP & Company PLT. My journey in the accounting profession has been driven by a passion for numbers and a dedication to helping businesses succeed. With over 25 years of experience, I’ve had the privilege of working with a wide range of clients, from small startups to large corporations, providing them with the financial insight and strategic guidance they need to thrive.

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