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Malaysians’ Guide To Important Personal Finance Dates And Events In 2024

Schedule your finance activities in advance.


Like most things, having a clear timeline of your financial activities allows you to manage them more effectively.  

Some important finance activities could be annual tasks that you have to check off your list and you don’t want to miss out on the deadline for you to complete the tasks. Meanwhile, there may also be events that happen only this year that you want to attend.   

We have compiled a list of personal finance dates and events in 2024 that could be relevant to you.  

Important Personal Finance Dates 

[End of February] Payment Of Assessment Rates  

Assessment rates are a tax on properties including houses and shops within a local authority area. They are paid to the local authority for their services such as the maintenance of public amenities.  

The local authority may charge a different rate for properties based on the location and use of the property. You may check your local authority’s website to find out more details. 

The local authority of the Federal Territory of Kuala Lumpur (KL) charges assessment rates twice a year, with the first payment due at the end of February.  

[March] Announcement Of Employee Provident Fund (EPF) Dividends 

Around the month of March, the Ministry of Finance (MOF) will declare the Employee Provident Fund (EPF)’s yearly dividends for both conventional and Shariah savings. 

Employees in the private sector, non-pensionable employees in the public sector and voluntary contributors could contribute a portion of their salary to the EPF to save for retirement. The government guarantees a 2.5% per annum minimum dividend to its members.   

Read Also: 5 Differences Between EPF And The Public Pension Scheme In Malaysia 

During the announcement, a detailed review of the performance of investment assets including equities and fixed income, will be provided.  

[March] Announcement Of National Education Savings Scheme (SSPN) Dividend 

The National Education Savings Scheme (SSPN), introduced by the government’s National Higher Education Fund (PTPTN), helps parents save for their children’s higher education. 

Read Also: How Much Does It Cost To Study Medicine In Malaysia?  

Around the month of February to April every year, the annual dividends for SSPN will be announced.   

Last year in 2023,  PTPTN announced a dividend of 3.05% for the year 2022. The dividend were deposited into contributors’ accounts immediately. 

[March] Declaration Of Profit Distribution For Tabung Haji  

The Tabung Haji Board (TH) is an Islamic institution that helps depositors save for their pilgrimage. 

Every year, TH will announce the profit distribution for the year. It declared a  profit of 3.10% for the financial year of 2022 

Read Also: Now’s The Best Time For Millennials To Invest, Here Are 5 Investment Options to Consider 

[30 April/15 May] Filing Of Income  

Every year, around the month of April, Malaysians need to declare their income by submitting the Income Tax Return Form (IRTF) and paying tax to the Inland Revenue Board of Malaysia (IRBM).  

There are two types of income: employment income and business income. An employed individual who exceeds an income level of RM34,000 and has a monthly tax deduction (MTD) is required to file tax.  

Individuals who are declaring employment income need to submit the IRTF before or on 30 April for manual submissions. Those who submit online get an extended deadline on or before 15 May. 

For those who earn business income, tax on gains or profits from the business would need to be paid, regardless of the income amount. If the business made a loss, you can submit and report taxes on the loss, which is deductible with profits in the future years. 

[31 May] Payment Of Land Tax (Quit Rent) Or Plot Tax (Parcel Rent) 

Land tax or quit rent is a kind of tax typically charged by the state government to owners of landed properties. 

On the other hand, property owners of stratified properties like condominiums and townhouses pay a plot tax or parcel rent.   

The due date for payment of land tax (quit rent) and plot tax (parcel rent) in the Federal Territory of KL is on 31 May 

[30 June/15 July] Submission Of Business Income 

If you receive your income from conducting a business, you will need to file for tax with the Inland Revenue Board Malaysia (IRBM). Individuals with business income are liable to file tax, and it does not matter how much you earned in the previous year. 

The Income Tax Return Form (IRTF)must be submitted before or on 30 June for manual filing or on or before 15 July for e-filing. 

[End Of August] Payment Of Assessment Rates 

As mentioned, you will need to pay assessment rates twice a year as a property owner to the local authority of the Federal Territory of KL. 

Assessment rates charged by the local authority are based on the annual value or the improved value of the property. The rates are to be reviewed once every 5 years and are subject to the following maximum rates: 

Type of Rates  Basis of valuation 
Annual value  Improved value 
Consolidated rate or Annual rate  35%  5% 
Drainage rate  5%  1% 

Source: Valuation and Property Services Department 

The second payment is due at the end of August. 

[September/October] National Budget 

Sometime around September and October each year, the government will table the national budget for the following year.  

This is an important event as the budget will likely touch on how funds will be allocated for national development, subsidies to help the people and changes to the tax rates in the coming year. 

[December] Announcement Of Income Distribution For Amanah Saham Bumiputera (ASB)  

Amanah Saham Bumiputera (ASB) is the flagship fund of government-linked unit trust company Amanah Saham Nasional Bhd (ASNB), which allows bumiputeras (Malays and indigenous peoples) to invest up to RM300,000 at a fixed price of RM1 per unit. 

Typically around December, ASNB announces the fund’s performance with a net income distribution of 3.35 sen per unit bought in 2022. 

Read Also: Malaysians’ Complete Guide To Investing In Unit Trusts 

Personal Finance Events 

[6 March] ASEAN Finance Innovation Summit 2024 

The ASEAN Finance Innovation Summit returns for its second year at the M Resort & Hotel Kuala Lumpur this year on 6 March. 

The event will focus on topics concerning decentralised finance including the adaptation of blockchain, cryptocurrency, artificial intelligence and cybersecurity, presented to you by speakers from IBM, PayNet and Gartner.  

Attendees will also get insights into cash flow strategies and cost minimisation using the latest technological innovations. 

[25 September] IFN Asia Forum 2024 

Entering its 19th year, the IFN Asia Forum is back in Malaysia at the EQ Kuala Lumpur on 25 September 2024. 

This time around, the event will feature discussions and fireside chats on topics such as the utilisation of technology to advance Islamic finance and shariah-compliant alternative funding and digital assets.  

Read Also: Managing Employees In Southeast Asia: Public Holidays And Key Dates To Take Note 


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