Very Best Present For All.... Cheers!!!
Lets celebrate..
At least 1% per year electricity tariff will rise due to sustainability energy subsidy. And how much will tariff rise when gas subsidy to IPP is taken back? Don't surprise, it will be the best ever present for us from our beloved elected government. Refer to the link below.
Now, budget 2014 in drafting??? Are you sure??? Or its already ready...
However, those who work with private sector, you should ask for your right in budget 2014. You will be the most affected with 2014 budget. You should think and request in 2014 budget:
1) A balance tax scheme and you should get what government worker have. Government worker their taxable income is around half from their total income. Why shouldn't you get the same?
2) Loan, as example to make a personal loan you have to pay higher interest rate around 7.95-9.5% but your counterpart in government just only 3.5-4.00%. The unreasonable higher interest rate also goes to mortgage and hire purchase.
3) Should request higher tax deduction for EPF/Insurance Premium since your counterpart in government didn't cut for EPF, they have pension scheme.
4) You should ask for medical, education and nursery tax deduction since you need to send your kids to private nursery compare to government servant they have subsidize nursery operated at office premises.
I believe as a private worker, you should benefited most from what you paid income tax? Why did you get the worst? You also should get fair benefit. Most of you working hard in industries, services and etc from early morning until sunset and should get better living. So start asking. Its open now? I think so....
At least 1% per year electricity tariff will rise due to sustainability energy subsidy. And how much will tariff rise when gas subsidy to IPP is taken back? Don't surprise, it will be the best ever present for us from our beloved elected government. Refer to the link below.
Now, budget 2014 in drafting??? Are you sure??? Or its already ready...
However, those who work with private sector, you should ask for your right in budget 2014. You will be the most affected with 2014 budget. You should think and request in 2014 budget:
1) A balance tax scheme and you should get what government worker have. Government worker their taxable income is around half from their total income. Why shouldn't you get the same?
2) Loan, as example to make a personal loan you have to pay higher interest rate around 7.95-9.5% but your counterpart in government just only 3.5-4.00%. The unreasonable higher interest rate also goes to mortgage and hire purchase.
3) Should request higher tax deduction for EPF/Insurance Premium since your counterpart in government didn't cut for EPF, they have pension scheme.
4) You should ask for medical, education and nursery tax deduction since you need to send your kids to private nursery compare to government servant they have subsidize nursery operated at office premises.
I believe as a private worker, you should benefited most from what you paid income tax? Why did you get the worst? You also should get fair benefit. Most of you working hard in industries, services and etc from early morning until sunset and should get better living. So start asking. Its open now? I think so....
#MyBudget: Share your ideas for Budget 2014!
PieeM said, he wants to hear your idea... Do try voice your difficulties.... Even I think it is just a gimmick. Better try then don't.1) The Star: Higher electricity bills likely
http://www.thestar.com.my/Business/Business-News/2013/08/30/Higher-electricity-bills-likely.aspx
2) The Star: GST implementation a must
http://www.thestar.com.my/News/Nation/2013/08/30/GST-implementation-a-must.aspx
KUALA LUMPUR: The implementation of a goods and services tax (GST) is a must
and not an option.
Secretary-General of Treasury Tan Sri Dr Mohd Irwan Serigar Abdullah said at the half-year Economic Transformation Programme (ETP) update that the Government was trying its best to include it in Budget 2014 if everyone was agreeable to it.
Dr Mohd Irwan added that it would only be in place in 2015 if the Government announced it in the coming budget as it would take 14 months for the GST to be implemented.
According to him, the Government would take an overall view of the existing tax system, including looking into personal and corporate taxes, in implementing the GST.
Secretary-General of Treasury Tan Sri Dr Mohd Irwan Serigar Abdullah said at the half-year Economic Transformation Programme (ETP) update that the Government was trying its best to include it in Budget 2014 if everyone was agreeable to it.
Dr Mohd Irwan added that it would only be in place in 2015 if the Government announced it in the coming budget as it would take 14 months for the GST to be implemented.
According to him, the Government would take an overall view of the existing tax system, including looking into personal and corporate taxes, in implementing the GST.
3) Bloomberg: Malaysia Plans Projects-to-Subsidy Curbs to Contain Budget Gap
By Manirajan Ramasamy & Ranjeetha Pakiam - Aug 29, 2013 4:04 PM GMT+0800
Malaysia said it plans to delay infrastructure projects, cut subsidies and may start a consumption tax, seeking to contain the budget deficit and bolster a shrinking current-account surplus.
Public building projects with high import content are most likely to be rescheduled, Idris Jala, a minister in the Prime Minister’s Department, told reporters in Kuala Lumpur today. The government may unveil plans to adjust subsidies as early as next week and is trying to include a goods and services tax in its 2014 budget, said Mohd Irwan Serigar Abdullah, secretary general at the finance ministry.
Asia’s policy makers are working to regain investor confidence as the prospect that the U.S. will reduce stimulus spurs outflows from the region, with Indonesia’s central bank holding an unscheduled board meeting today. The ringgit has fallen 7.9 percent this year, and Fitch Ratings cut Malaysia’s rating outlook to negative last month, citing the Southeast Asian nation’s rising debt levels and lack of budgetary reform.
“The market expects us to manage our deficit and balance of payments in a way to ensure the market will have confidence in the macro and fiscal management of this country,” Prime Minister Najib Razak told reporters in Putrajaya, outside Kuala Lumpur. “The details relating to that will be announced when appropriate.”
The benchmark FTSE Bursa Malaysia KLCI Index has fallen 5.9 percent from a record on July 24.
Construction of a subway in Kuala Lumpur, the country’s biggest infrastructure project, won’t be among those projects held up, said Jala, who heads the government’s Performance Management & Delivery Unit.
GST would take 14 months from next year to implement if the government goes ahead, Irwan said. To ease the public’s burden, rebates would be given to some people and smaller companies, and some essential items like rice and baby milk could be zero-rated, he said.
A consumption tax is “a must, not an option,” said Irwan. “We are trying our best to include it in this year’s budget.”
Malaysia is on target to lower its budget deficit to 4 percent of gross domestic product this year and to 3 percent in 2015, Irwan said. It aims to achieve a surplus in 2020, he said.
“The steps announced are reassuring and will help calm fears about the large fiscal deficit and debt, and worsening current-account position,” Chua Hak Bin, a Singapore-based economist at Bank of America Corp., said by e-mail. “What will probably help are also steps to address ballooning government spending and operational costs, and not just tax increases.”
Public building projects with high import content are most likely to be rescheduled, Idris Jala, a minister in the Prime Minister’s Department, told reporters in Kuala Lumpur today. The government may unveil plans to adjust subsidies as early as next week and is trying to include a goods and services tax in its 2014 budget, said Mohd Irwan Serigar Abdullah, secretary general at the finance ministry.
Asia’s policy makers are working to regain investor confidence as the prospect that the U.S. will reduce stimulus spurs outflows from the region, with Indonesia’s central bank holding an unscheduled board meeting today. The ringgit has fallen 7.9 percent this year, and Fitch Ratings cut Malaysia’s rating outlook to negative last month, citing the Southeast Asian nation’s rising debt levels and lack of budgetary reform.
“The market expects us to manage our deficit and balance of payments in a way to ensure the market will have confidence in the macro and fiscal management of this country,” Prime Minister Najib Razak told reporters in Putrajaya, outside Kuala Lumpur. “The details relating to that will be announced when appropriate.”
The benchmark FTSE Bursa Malaysia KLCI Index has fallen 5.9 percent from a record on July 24.
Construction of a subway in Kuala Lumpur, the country’s biggest infrastructure project, won’t be among those projects held up, said Jala, who heads the government’s Performance Management & Delivery Unit.
Rebates, Exemptions
Dialogues on the implementation of a goods and services tax have been underway, said Najib, who is also finance minister. “Whether this is included in the budget or not, we’ll have to wait for the budget,” said the premier, who is due to deliver his 2014 fiscal plans on Oct. 25.GST would take 14 months from next year to implement if the government goes ahead, Irwan said. To ease the public’s burden, rebates would be given to some people and smaller companies, and some essential items like rice and baby milk could be zero-rated, he said.
A consumption tax is “a must, not an option,” said Irwan. “We are trying our best to include it in this year’s budget.”
Malaysia is on target to lower its budget deficit to 4 percent of gross domestic product this year and to 3 percent in 2015, Irwan said. It aims to achieve a surplus in 2020, he said.
“The steps announced are reassuring and will help calm fears about the large fiscal deficit and debt, and worsening current-account position,” Chua Hak Bin, a Singapore-based economist at Bank of America Corp., said by e-mail. “What will probably help are also steps to address ballooning government spending and operational costs, and not just tax increases.”
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