Friday, 28 September 2012

Bajet 2013 - What will I benefit from it

Well, amongst the anticipated event every year has taken place today. Our PM's had presented his budget speech which I believe being watched/listened/followed by the whole Malaysian's. I would say a lot's of good stuff provided for wide range of people. BR1M, reduce of tax, higher tax relief etc..etc..For certain business sector, they also will enjoy much incentives. (Tourism, agriculture, O&G). Certainly I hope the total RM249.7 bil would be used wisely and not benefited only for certain people only. 

As a Malaysian (tax paying citizens), I want to look and see what those are things that I would expect to directly benefited from it. 

Bajet Incentives
What I will benefit from it
 50 percent off passport fees for senior citizens starting Jan 2013
 This is good, I can sponsor my Mom passports at half price. So, I can bring my mom's holiday abroad.
 Additional 150 staff for Malaysian Anti-Corruption Commission (MACC)
 Hmm, let's me think if any of my family member's suited for this position. 
 RM200 rebate for smart phone purchase for those aged 21 to 30 years.
 Maybe I can take this opportunity to reward my neice/ nephew with new SP. This would motivate them to perform better in their study.
 First home scheme – income cap raised from RM3,000 to RM5,000. Join income limit is RM10,000. Applies only for houses below RM400,000
 Aiyah!!.. this one too late to come. Should enhance for 2nd house for me to entitle it.
 Real property gains tax (RPGT) for properties sold within two years of purchase raised to 15%;  2-5 years 10%. No RPGT for properties sold five years after purchase
 Hopefully it will control and reduce house price, It really a heartbreaks when RPGT was abolished few yrs ago where the property prices hike's like hell.
 Original buyers of abandoned projects will be exempted from stamp duty for loan refinancing or ownership transfer agreements
 Am I one of the victim of 'abandoned projects'. ?? Need to get a further info on this. It can saved me up to 6k for stamp duty if this can be applied to me.
 Bantuan Rakyat 1Malaysia (BR1M 2.0)
RM500 cash for households with combined income of RM3,000 or less

RM250 cash for unmarried individuals who are 21 and above and earning RM2,000 and below
 "BR1M 2.0" what a nice tag and I'm sure my family, relatives, village-mate etc would like it. I can see my HP will be   busy again next year when they want me to check their status.

My mom, grandma, sis and bro sure can get this and my niece/ nephew too..
 Sugar prices to increase as a result of subsidy cuts by RM0.20. New prices are RM2.50 per kilo for Peninsular Malaysia and RM2.60 per kilo for Sabah and Sarawak.
 OMG!!. As usual one thing can lead to another. Increase in 20cents of sugar, all the things related to sugar will increase.   The 'greedy' tokey will use this as an excuse to increase price. You name it, teh tarik / bread/ cake / sweets? F&B.. Aiyah.. maybe the bright side is my chance to get diabetics is lower.  
 1% tax reduction for those with a taxable income of RM2,500 to RM50,000
 Let see whether this year I still fall under this group. Last year I'm at this tax bracket. This year I don't think so.
 One-off payment of RM100 for each primary and secondary school student
 Surely my 'orang kampung' will delighted about this. Hopefully they use it wisely..
 20% discount for National Higher Education Fund (PTPTN) loans for those who pay off the entire amount outstanding (valid until Sept 30, 2013)
As my study not  financed by PTPTN, I cannot enjoyed this. But, definitely my wife should benefited from this. So dear wifey, lets plan our finance.   
10% discount for PTPTN loan repayment for those who pay consistently

 One and a half month bonus, disbursed in three months.
 Congrats to my family/relatives/fren who enjoyed it. Use the money wisely ok. Hopefully our HQ will fight for more this year.  
 RM25,000 for free mammogram examination for women, aged 40 and above.
 My mom's :) 
 Bajet Impact on market.
Share market will increase. Hopefully my penny stocks will go up next week. Just now from TV show, the experts hinted that telco's & consumer related products will increase. Stay away from property  developer he say. hehe


And the rest, I will benefited from it direct or indirectly later. So, let's see what it will effect the coming for GE. 


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