myLIFEinvest

View your self the highlights copied from http://www.themalaysianinsider.com/malaysia/article/budget-2014-highlights-bernama Following are highlights from Budget 2014: CIVIL SERVICE * Pensioners will receive a special financial assistance of RM250 to assist them in meeting the rising cost of living. * Government to give a half-month bonus for 2013 with a minimum payment of RM500 to be paid in early January 2014. CASH HANDOUTS (BR1M) * Cash handouts to households with a monthly income of below RM3,000 will be increased to RM650 from RM500. * For individuals aged 21 and above and with a monthly income not exceeding RM2,000, cash handouts will be increased to RM300 from RM250. * For the first time, cash assistance of RM450 will be extended to households with a monthly income of between RM3,000-RM4,000. * To implement all cash schemes, government will allocate RM4.6 billion which is expected to benefit 7.9 million recipients. REAL PROPERTY GAINS...

Emmm!!!  I didn't see any fair tax here. What happen if in a family only husband working and the monthly income is at RM8500? Comparing to both wife and husband working? What I see, Islamic Zakat is the fairest. 2.5%.  So who will benefit? TAX RELIEF * Government proposes a special tax relief of RM2,000 be given to taxpayers with a monthly income up to RM8,000 received in 2013. CORPORATE TAX * Corporate income tax rate be reduced by 1 percentage from 25% to 24%. * Income tax rate for small and medium companies will be reduced by 1 percentage point from 20% to 19% from the year of assessment 2016. INCOME TAX * Government to give one-off cash assistance of RM300 to low income group * Personal income tax rates be reduced by 1 to 3 percentage points for all tax payers. * Individual income tax structure will be reviewed * Chargeable income subject to the maximum rate will be increased from exceeding RM100,000 to exceeding RM400,000. * ...

Aaahhhaaaaa! GST sooner or later will introduce and fortunately it is said in 2015 after a massive so called subsidy redrawal being implemented....  Just wait and see, this is award from elected ruler in PRU13. How will GST impact us? Do what as spell out in below article or catastrophic impact will rise??? I don't know. Do you know??? So lets celebrate... --------------- From The Star.. Published: Monday October 21, 2013 MYT 12:00:00 AM Updated: Monday October 21, 2013 MYT 9:22:58 AM Real impact of GST on cost of living by raja kumaran AND tim simpson WHEN most people hear of a possible introduction of the goods and services tax (GST) at say 6%, they assume that their cost of living will increase by 6%. This is an understandable assumption, but how true is it? GST is a bro...

Quite sometimes  not visiting my own blog. After hospitalize and on medication for 2 weeks and later took 1 week leave to get mind rest now looking what will the next dooms to arise. Malaysia budget past years never benefit middle class worker especially private sectors. Read the below article, tax is the most burden middle class worker since we usually will stuck at the higher tax band due to unbalance tax scheme between public and private sectors. Public sector gain the most in the past years budget with many benefit given to them but vice versa for private sectors.  Now we need to sacrifice again to pay government debt that was utilized by corrupted to fund their crony debt. Middle class worker now suffering of higher interest rate to purchase house. The price of the house also now very expensive and middle class group also can't even purchase them. Where is justice? Paying higher tax to pay government debt and income become scarce for own consumption. The 2014 budge...