Every year this time round, our PM will announce the budget for 2010 and everyone is expecting goodies to be splashed out....but this time round, there may still some goodies for us as follow;
a) Personal tax top bracket will be reduced by 1% from 27% to 26%....(though I have not reached the top bracket as yet but this will spur more actions to reach to the top !)
b) Increased of personal relief (yes, I need that to gain more savings)
c) Increased on insurance relief (yes, then can buy more protection especially critical illness programme)
d) Tax deduction for broadband services up to RM500 for the period 2010-2012 (aha...good for my streamyx and maxis).
Anymore huh ? I have not seen the full fledge of the budget report...actually every year, I also do not take real time to read the full report except going through the main features. This time round, I must get the full report for good learning.
As for the negatives news from the budget for individual;
1) I have just learned that many friends had decided the main two credit cards to be retained and had cancelled those extras. This is an important consideration move as effective Jan 2010, every card will be charged RM50 (except supplementary at RM25 per card). I can imagine the huge revenue that could be generated for government i.e 1,000,000 people x 2 cards x 50 = RM100,000,000.
I have to decide which are my main two cards soon...but let's see what is the response from the bankers ?
2) Property gain tax - 5%. Luckily I sold my house last year after 6 months on sales when the government abolish the tax two years back. Though, I did not have actual gain when I add my renovation into the total sale value but in the official records, my buying price is definitely lower than the selling price. So, guess need to add in this 5% extra if we want to sale our property.
More to come ??
d) Tax deduction for broadband services up to RM500 for the period 2010-2012 (aha...good for my streamyx and maxis).
Anymore huh ? I have not seen the full fledge of the budget report...actually every year, I also do not take real time to read the full report except going through the main features. This time round, I must get the full report for good learning.
As for the negatives news from the budget for individual;
1) I have just learned that many friends had decided the main two credit cards to be retained and had cancelled those extras. This is an important consideration move as effective Jan 2010, every card will be charged RM50 (except supplementary at RM25 per card). I can imagine the huge revenue that could be generated for government i.e 1,000,000 people x 2 cards x 50 = RM100,000,000.
I have to decide which are my main two cards soon...but let's see what is the response from the bankers ?
2) Property gain tax - 5%. Luckily I sold my house last year after 6 months on sales when the government abolish the tax two years back. Though, I did not have actual gain when I add my renovation into the total sale value but in the official records, my buying price is definitely lower than the selling price. So, guess need to add in this 5% extra if we want to sale our property.
More to come ??
3 comments:
I don't really mind how much I pay for the income tax as long as the tax payers money is spend wisely to improve the livelihood of the people, improve public infrastructure, better public warefare and prepare the country for future challenge. The government must be accountable and responsible for wise spending of public coffer.
Will, I agree. Expecting more checking into Gov't's real results. If not, the wealth of the country shall all go into the pockets of the cronies...
The change must continue...and all must have the courage to speak up...it may not be immediate but the Day will come very soon...it has started on 0308...let it grows to maturity...either to supporters or oppositions...every citizen of Malaysia must play their role responsibly.
[ ... ] link is being shared on Twitter right now. @zenx, an influential author, said RT @1ndus: Xtreme [ ... ]
Post a Comment