PERQUISITE IN RELATION TO SERVICE AWARDS
Income tax exemption of up to a maximum amount or value of RM1000 for each year of assessment. In respect of long service award, shall only be given to employees who have served the same employer for more than 10 years.
Effective Y/A 2008: The exemption will be increased from RM1000 to RM2000 and is extended to awards related to innovation and productivity awards.
ACP1967 Sch 6 Para 25C: Perquisite consisting of long service, past achievement, service excellence, innovation or productivity award, whether in money or otherwise, provided to an employee pursuant to his employment, limited to a maximum amount or value of two thousand ringgit for each employee for a year of assessment provided that exemption in respect of long service award shall apply only after the employee has exercised an employment for more than ten years with the same employer.
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