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Sparrow
23-10-2009, 11:29 AM
1. Personal tax rate reduction, more income tax relief
2. Boost for construction sector
3. Abolish subsidy on fuel to lessen the burden on deficit
4. GST as an alternative tax income ( no timeline yet)
5. Buy up tolls expressways
6. Transportations - > RAILS/BUSES, it cost a toll on the nation productivity everyday.
7. Green Energy incentives

what can we expect?

bugbear
23-10-2009, 01:15 PM
Let us just wait for the full announcement before commenting otherwise where is the fun?

expat1609
23-10-2009, 02:57 PM
1 hour to go
on TV where? are we able to watch online ?

Phres
23-10-2009, 06:09 PM
-To ensure that fuel subsidies only benefit targeted groups, Govt will implement a fuel subsidy management system in early 2010, which will utilise the MyKad-

any idea how this will be implemented? Non MyKad will be paying full rate?

PeterHng
23-10-2009, 06:11 PM
Credit card and supplementary cards will be taxed!!

(will have to cancel lots of credit cards which were given free and not used)

pokemon
23-10-2009, 07:04 PM
Credit card and supplementary cards will be taxed!!

(will have to cancel lots of credit cards which were given free and not used)

Tax or service charge? What kind of service being provided? How to promote prudent spending when the govt itself has overspent? :mad:

Phres
23-10-2009, 07:09 PM
the rationale is that the more cards you own, the more spending you will be doing! wonder how the banks will react to this....whether they will "absorb" the charges in order to keep their customers

pokemon
23-10-2009, 07:16 PM
the rationale is that the more cards you own, the more spending you will be doing! wonder how the banks will react to this....whether they will "absorb" the charges in order to keep their customers

Then they should impose more stringent rules and regulations to banks who approve cards. Always the rakyats are the most victimised... :mad:

currymee
23-10-2009, 07:18 PM
Now, who shall I keep - Visa, Mastercard or Amex ? La-la-li-la-tam-plong :D

QuietStorm
23-10-2009, 07:25 PM
Now, who shall I keep - Visa, Mastercard or Amex ? La-la-li-la-tam-plong :DIndeed it's a predicament. Is it true that Visa is more widely accepted?

currymee
23-10-2009, 07:29 PM
Indeed it's a predicament. Is it true that Visa is more widely accepted?

then - we must have a NEW THREAD in the forum !! :p

Already started one - please vote with your reasons :D

currymee
23-10-2009, 08:01 PM
Seriously, apart from the credit cards sucker punch, I appreciate the reduction in personal tax, EPF relief , green technology etc ... just trying to figure out where is the catch ? Maybe tomorrow morning after reading the newspapers, his speech too long and TV commentators just keep on rambling ... :mad:

Phres
23-10-2009, 08:10 PM
the "catch" will be the withdrawal of subsidy and the GST implementation. Just wait, it will happen. they give us the sweet first, thereafter comes the bitter pill :mad:

Sentinel
24-10-2009, 01:38 AM
With the imposition of tax on every single credit card, the number of cards will be reduced across the board - at least thats the assumption.. but will it reduce the number of cards effectively? I am having my doubts...

With the number of credit cards reduced, it is expected personal consumption aka domestic consumption would be reduced and this is a major portion of the total aggregate demand in the macro-economic model. How is the government going to increase GDP, which in a large part is driven by aggregate demand, if they reduce the number of cards? I am scratching my head now wondering if enough thoughts have been put into this proposal?

Last but not least, are credit cards mainly held by rich people (which would help aggregate demand) or by ordinary Malaysians to help ends meet (rolling the cash)?

Naka
24-10-2009, 07:52 AM
Malaysia slashes spending in 2010 budget:-

http://www.google.com/hostednews/afp/article/ALeqM5jbsW31yUA79wVMOmyprHtIZTpGew

shthang
24-10-2009, 09:36 AM
RPGT (Real Property Gain Tax) is back again with 5% fixed tax (not progressing tax) on the gains (Selling price - purchase price) effective 1.1.2010. This does not augur well for the property and capital markets...not sure what is the rationale behind this re-introduction of RPGT tax again. I think the gomen likes to flip flop the policy and making difficult for the investors (especially the foreign investors) to adapt and may shy away investing elsewhere.

Nevertheless..anticipate more property transactions in the remaining months this year.

ksj_cool
24-10-2009, 10:26 AM
1. People who use credit cards are also people who have financial difficulty. By introducing tax/service charge the govt. is only increasing the burden on the people. Shd the govt want people to reduce their credit card debts they shd instead ask banks to reduce the interest rate, so that the principal can be reduced. At one time they wanted people to spend more, allowing anybody to own credit cards and spend as they like, now they say we have spent too much and shd be taxed! Ridiculous!

2. Most people in the middle and upper middle class need tax cuts, not the rich and famous! By only adjusting the highest tax bracket, they are not helping at all. Increasing personal relief helps but decreasing the tax percentages would be better.

pucman
24-10-2009, 10:29 AM
what is the rationale behind this re-introduction of RPGT tax again.

Isn't it obvious ? Who benefits most from these taxes ?

When we sell our property, the govt not only get a huge stamp duty but also RPGT ! :mad:

It seems that the govt is running out of money.

fabregas
24-10-2009, 10:45 AM
I have mix feelings about the latest RPGT proposal. Bad for property investors but it will probably curb speculation. You can still use the "once in a life time exemption" (everybody has one). Also you are exempted if you transfer the property from parent to child , grandparent to grand child. Still I wish they had kept the rule about being given exemption if the property is kept for 5 years - some people don't speculate but do upgrade their homes. But I have a feeling they will change the rules again in the next few budgets. :)

pucman
24-10-2009, 10:58 AM
I have mix feelings about the latest RPGT proposal. Bad for property investors but it will probably curb speculation. You can still use the "once in a life time exemption" (everybody has one). Also you are exempted if you transfer the property from parent to child , grandparent to grand child. Still I wish they had kept the rule about being given exemption if the property is kept for 5 years - some people don't speculate but do upgrade their homes. But I have a feeling they will change the rules again in the next few budgets. :)

I think it's ridiculous to impose 5% tax even for a property that is bought more than 5 years ago.

The renovation that we did and the >10% (petrol cost domino) inflation has not been taken account by the govt.

After the stamp duty tax, 5% tax, renovation cost, inflation, we actually end up making a loss after selling.

trex92
24-10-2009, 11:08 AM
"whoopee"... personal relief increased by RM1,000 and EPF as well.... "wow"... even at the highest tax rate of 26%, this translates into RM520 a year... RM45 extra disposable income all for me to spend on peanuts... with the possibility of petrol prices increasing due to the introduction of using mykad to curb abuse of fuel "subsidy", what and how much can this RM45 do? I say it's all bull... high income society huh? Nahhhh!

Sentinel
24-10-2009, 11:42 AM
I have mix feelings about the latest RPGT proposal. Bad for property investors but it will probably curb speculation. You can still use the "once in a life time exemption" (everybody has one). Also you are exempted if you transfer the property from parent to child , grandparent to grand child. Still I wish they had kept the rule about being given exemption if the property is kept for 5 years - some people don't speculate but do upgrade their homes. But I have a feeling they will change the rules again in the next few budgets. :)Rash decision, thats my opinion. This will delay a lot of development projects because the number of people who used to book new houses for re-sale 3-4 years later as investment might dwindle. The housing & development industry will face a slight slow-down in projects take-off then the government will review and I bet they will U-Turn again... biasalah half-past six economists working in there!

Its the same thing about the RM50 on each principal credit card. I think it will raise the government RM500 million per year in revenue (11 million cards x RM50) if thats what they want. It was stated they want to curb "irresponsible abuse of credit thru many credit card ownership" but it will not be effective becoz a huge number of these multiple-card holders find that it is a NECESSITY since they need these credit facilities to continue surviving... But the effect on domestic spending will affect the overall aggregate demand and the end result would be a dampener on the GDP growth... another ill-thought-out proposal from the current budget, if you ask me.

Sentinel
24-10-2009, 11:50 AM
Half the people don't pay income tax anyway so reducing it by 1% point in the tax rate will only help the rich. E.g. a senior manager with a taxable income of RM300,000 per year will now pay 1% less ie RM3,000 less... the ones with RM600,000 taxable income will pay RM6,000 less (or RM500 more to play golf and buy a few more rounds of beer for his golfing buddies).

The man on the street, with taxable income of RM30,000 will save 1% too - or a mere RM300 per year. Whhich does help him with about RM25 more in his pocket per month.

So, this 1% helps but helps who more? The nouvea riche lah!

Sentinel
24-10-2009, 11:56 AM
RM15 juta untuk mendirikan 100 kedai-kedai runcit di kawasan desa utk meringankan lagi beban rakyat desa....

Hey Mr. Pm, do you think just dishing out RM15 million to build 100 sundry shops gonna help the poor in the rural areas... your strong support bases?

What should be done should have been a more comprehensive pricing structure from wholesalers / manufacturers supply chain to the rural retail shops...anyway RM15 million is chicken feed to resolve such a humongous problem.

cskok8
24-10-2009, 12:18 PM
RM15 juta untuk mendirikan 100 kedai-kedai runcit di kawasan desa utk meringankan lagi beban rakyat desa....

Hey Mr. Pm, do you think just dishing out RM15 million to build 100 sundry shops gonna help the poor in the rural areas... your strong support bases?


It will definitely benefit the contractor who gets the job. Travel through any small town and you will see numerous shops and stalls built by govt agencies to "promote commerce in rural areas" lying empty.

firefox
24-10-2009, 12:24 PM
Spend spend spend thats all. Not a very intelligent budget i would say.

Sentinel
24-10-2009, 12:27 PM
Spend spend spend thats all. Not a very intelligent budget i would say.Not only that... tax... tax... tax... the rakyat too. This is BUDGET FOR THE RICH and not the poor. How many poor will benefit from the RM500 rebate for broadband?

USJ27Resident
24-10-2009, 01:10 PM
. I think the gomen likes to flip flop the policy and making difficult for the investors (especially the foreign investors) to adapt and may shy away investing elsewhere.....

naaahh!! only the bodoh locals will kena the taxes la... the smart expats/foreigner/investors wud know how to skirt around the rules!! soon you'd see a lot of virtual addresses and offices popping up in Iskandar Malaysia...

HTCHONG
24-10-2009, 03:40 PM
I read the Malaysia budget 2010 this morning. What strike me the most is the GST (Goods and Services Tax) and there was no detail given. My guess is that if GST is to replace the current Sales & Services Tax then it actually widens the scope of taxing. The current sales tax & services tax are the two major types of consumption taxes imposed on certain prescribed goods and services. If GST is to follow the way it implements in Singapore & Hong Kong then all goods and services inclusive daily necessities will be taxed. The concept is the more you buy the more you will be taxed. This particularly hits the non taxable group which is the low income.

The low income group is not benefited from any rebates that announced in the budget 2010 but once GST is implemented this group will be taxed for their daily necessities. This hit their pocket directly and Government should consider some rebates or subsidies for this group of people if GST is to be implemented.

trex92
24-10-2009, 06:28 PM
I read the Malaysia budget 2010 this morning. What strike me the most is the GST (Goods and Services Tax) and there was no detail given. My guess is that if GST is to replace the current Sales & Services Tax then it actually widens the scope of taxing. The current sales tax & services tax are the two major types of consumption taxes imposed on certain prescribed goods and services. If GST is to follow the way it implements in Singapore & Hong Kong then all goods and services inclusive daily necessities will be taxed. The concept is the more you buy the more you will be taxed. This particularly hits the non taxable group which is the low income.

The low income group is not benefited from any rebates that announced in the budget 2010 but once GST is implemented this group will be taxed for their daily necessities. This hit their pocket directly and Government should consider some rebates or subsidies for this group of people if GST is to be implemented.


precisely... and the pm commented that GST would be lower rate than the current service tax as though trying to make GST look better. What a load of bull when GST would be charged on nearly everything.

Without giving further details on the GST, seems to point that the govt themselves don't know what to do yet. Reminds me of the first time they brought the GST up which was last minute "postponed indefinitely". All these half baked ideas and plans waste money.

Sparrow
24-10-2009, 08:30 PM
precisely... and the pm commented that GST would be lower rate than the current service tax as though trying to make GST look better. What a load of bull when GST would be charged on nearly everything.

Without giving further details on the GST, seems to point that the govt themselves don't know what to do yet. Reminds me of the first time they brought the GST up which was last minute "postponed indefinitely". All these half baked ideas and plans waste money.
GST is a broad base tax. It affects everyone include babies and old folks, who do not earn an income. So much for the 1Malaysia slogan, "Rakyat didahulukan", it is more like "Rakyat ditindaskan"

currymee
24-10-2009, 08:34 PM
And Najib has the b***s to say his budget is friendly to the rakyat - with GST, lower income group will be hit and some more he gave tax reduction for high income bracket - BULL*** He is friendly to HIMSELF and HIS RICH cronies

In other countries, to help cut deficit and help economy and people, like UK, they raised the taxes on high income group - in Malaysia REVERSE, GST all the common folks and tax reduction for rich and some more got the guts to say RAKYAT FRIENDLY :mad:

Carolrasiah
24-10-2009, 09:04 PM
Spend spend spend thats all. Not a very intelligent budget i would say.
I seriously doubt weather this word “intelligent”exist within the pm throne.

This country is so so hapless & hopeless.

totoro
24-10-2009, 09:25 PM
And Najib has the b***s to say his budget is friendly to the rakyat - with GST, lower income group will be hit and some more he gave tax reduction for high income bracket - BULL*** He is friendly to HIMSELF and HIS RICH cronies

In other countries, to help cut deficit and help economy and people, like UK, they raised the taxes on high income group - in Malaysia REVERSE, GST all the common folks and tax reduction for rich and some more got the guts to say RAKYAT FRIENDLY :mad:
I thought GST is postponed? Plus the plan is to have some incentive/rebate/relief for low income groups?

shthang
24-10-2009, 09:27 PM
Rash decision, thats my opinion. This will delay a lot of development projects because the number of people who used to book new houses for re-sale 3-4 years later as investment might dwindle. The housing & development industry will face a slight slow-down in projects take-off then the government will review and I bet they will U-Turn again... biasalah half-past six economists working in there!

Indeed this 5% RPGT tax is still not 100% crystal clear and confusing.

If the 5% tax on the gains is applicable to all properties even after 5 years, then i think this new policy is a bit crazyhttp://planetsmilies.net/not-tagged-smiley-13321.gif . Why? If you sell a property of 60years old (before merdeka)that you inherited from your father or grandfather, how are gains going to be calculated when you may have no clue about the property value or how are gomen going to trace the property value > 60 years ago http://planetsmilies.net/confused-smiley-17428.gif ?
Hope the gomen will shed more light on this new HP6 ruling.

totoro
24-10-2009, 09:40 PM
Indeed this 5% RPGT tax is still not 100% crystal clear and confusing.

If the 5% tax on the gains is applicable to all properties even after 5 years, then i think this new policy is a bit crazyhttp://planetsmilies.net/not-tagged-smiley-13321.gif . Why? If you sell a property of 60years old (before merdeka)that you inherited from your father or grandfather, how are gains going to be calculated when you may have no clue about the property value or how are gomen going to trace the property value > 60 years ago http://planetsmilies.net/confused-smiley-17428.gif ?
Hope the gomen will shed more light on this new HP6 ruling.

If in 1970 it is worth RM40k, and now it sells for RM640k, then the gains are RM600k, and the tax is 5%, which is RM30k.

I don't know if this new rule is retro-active or only applies to properties purchased after 2009 though, so it'll be good to find out.

pucman
25-10-2009, 12:54 AM
If

I don't know if this new rule is retro-active or only applies to properties purchased after 2009 though, so it'll be good to find out.

Another question is, will it be the S&P price bought last time or the evaluation price ? Because both can be different.

Sentinel
25-10-2009, 10:19 AM
Once the property developers start to whimper... the government will U-turn... Half-past-6 economists at work....

AllUrban
26-10-2009, 01:16 PM
Its the same thing about the RM50 on each principal credit card. I think it will raise the government RM500 million per year in revenue (11 million cards x RM50) if thats what they want. It was stated they want to curb "irresponsible abuse of credit thru many credit card ownership" but it will not be effective becoz a huge number of these multiple-card holders find that it is a NECESSITY since they need these credit facilities to continue surviving... But the effect on domestic spending will affect the overall aggregate demand and the end result would be a dampener on the GDP growth... another ill-thought-out proposal from the current budget, if you ask me.Another thought in my mind is what happens to these people who cannot make use of credit card facilities.

If banks do not give them loans and they have credit card limits, the only other options are government loans or ah long.

The goal is a positive one but if they really want to encourage Malaysians to be more prudent with their spending, this is not the way.

Cheers, m

ps. FT minister looking to set the Urban Poverty Line at RM3000 for a family of 5.

Cheers, m

AllUrban
26-10-2009, 01:18 PM
GST is a broad base tax. It affects everyone include babies and old folks, who do not earn an income. So much for the 1Malaysia slogan, "Rakyat didahulukan", it is more like "Rakyat ditindaskan"on the other hand, the government can make certain items free of GST...like baby milk formula, instant noodles, public transport fares, etc.

Cheers, m

totoro
26-10-2009, 01:26 PM
If you sell a property of 60years old (before merdeka)that you inherited from your father or grandfather, how are gains going to be calculated when you may have no clue about the property value or how are gomen going to trace the property value > 60 years ago http://planetsmilies.net/confused-smiley-17428.gif ?
Hope the gomen will shed more light on this new HP6 ruling.

How about keeping the S&P and just using that number?

cskok8
26-10-2009, 03:09 PM
How many people keep a 60 year-old S&P? What about expenses incurred during that 60 year period which should be deducted from the "profit", interest, assessment, renovations etc

totoro
26-10-2009, 11:01 PM
Looks like RPGT is a fixed 5% throughout instead of 30% for the first 2 years:


SECOND Finance Minister Datuk Seri Ahmad Husni Hanadzlah clarified that the Real Property Gains Tax, effective January 1 next year, is fixed at 5 per cent, irrespective of the property disposal year.

Therefore, the current rate of RPGT, which is higher than 5 per cent as in Schedule 5 of the Real Property Gains Tax 1976, will no longer be applicable.

Oops - forgot to state the source (NST): http://www.btimes.com.my/Current_News/BTIMES/articles/rpgt/Article/index_html

Read the article there, cheers!

jimmyay
27-10-2009, 09:38 AM
I think it's ridiculous to impose 5% tax even for a property that is bought more than 5 years ago.

The renovation that we did and the >10% (petrol cost domino) inflation has not been taken account by the govt.

After the stamp duty tax, 5% tax, renovation cost, inflation, we actually end up making a loss after selling.

Yes, the govt authority should have more competent Management Accountant to look into all this effect & impact.

Eg. Purchase house in 1977 - Cost RM20,000. Sell in 2010 - RM 150,000. Net profit = 130,000. RPGT payable = RM 6,500 (5%). This is not right. There are so many incidental cost that should be used as cost of maintaining the property.

kwchang
27-10-2009, 09:45 AM
...This is not right. There are so many incidental cost that should be used as cost of maintaining the property.
I believe the property owner is allowed to factor in the costs of managing the property plus costs incurred to advertise and sell the property in the final accounts. With that the 5% tax will not be on the pure profit but profit minus costs. If you get a good accountant, I am sure the final tax should be a lot less.

regines
27-10-2009, 10:08 AM
so buyer at the losing end or the seller ?

trex92
27-10-2009, 10:11 AM
so buyer at the losing end or the seller ?

of course it would be buyer... ;)

ng
27-10-2009, 10:16 AM
How many people keep a 60 year-old S&P? What about expenses incurred during that 60 year period which should be deducted from the "profit", interest, assessment, renovations etc


Most S&P would have been lost or thrown away after 10 years.

How do you prove the renovation costs because most contractors don't give receipts. Furthermore, most of us don't keep receipts after certain number of years.

ng
27-10-2009, 10:19 AM
of course it would be buyer... ;)

Not necessary.

Unless the seller have done a lot of renovation and he cannot provide the value of renovation to income tax dept because they need receipt.

So the seller will be selling at a loss.

I think the govt should at least abolish all taxes after 5 years as in the previous policy because it is ridiculous to keep S&P and renovation cost receipts after 5 years.

ksj_cool
27-10-2009, 12:26 PM
Rm400b in foreign debts ...aiyoo! whats are ranking on this! Who is going to pay this up?

patrick
27-10-2009, 12:55 PM
With the imposition of tax on every single credit card, the number of cards will be reduced across the board - at least thats the assumption.. but will it reduce the number of cards effectively? I am having my doubts...

With the number of credit cards reduced, it is expected personal consumption aka domestic consumption would be reduced and this is a major portion of the total aggregate demand in the macro-economic model. How is the government going to increase GDP, which in a large part is driven by aggregate demand, if they reduce the number of cards? I am scratching my head now wondering if enough thoughts have been put into this proposal?

Last but not least, are credit cards mainly held by rich people (which would help aggregate demand) or by ordinary Malaysians to help ends meet (rolling the cash)?

Was having the same thoughts. To me, not enough thoughts put into the budget. Very contradictory to their overall objective. And if one look at the overall budget, most of the beneficiaries are going to be the high income group. So...where's the stimulant???

Sentinel
27-10-2009, 02:07 PM
On the subject of Real Property Gains Tax, its a 5% on the net profit (gains) by the owner (seller) so me think whatever the amount the government gains. The owner (seller) just need to be sure to factor in his costs of renovations, upkeep and also the various cukai pintu over the years... to the buyer, he just either agree to the asking price and buy or not buy... I don't see how he gains or loses from the real property gains tax...

cskok8
27-10-2009, 03:18 PM
I believe the property owner is allowed to factor in the costs of managing the property plus costs incurred to advertise and sell the property in the final accounts. With that the 5% tax will not be on the pure profit but profit minus costs. If you get a good accountant, I am sure the final tax should be a lot less.

Very true, but for houses bought very long ago most people would not have kept the receipts. Previously the RPGT stops after 5 years so most people would not keep records once the 5 year period is over.

patrick
27-10-2009, 03:42 PM
Most S&P would have been lost or thrown away after 10 years.

How do you prove the renovation costs because most contractors don't give receipts. Furthermore, most of us don't keep receipts after certain number of years.

Wah...throw away your S&P? I keep all my S&Ps even after I have sold the properties. One, for reference. Two, anytime the Income Tax comes after me, I have the file. After all, the S &P is just a simple document, why throw away?

Sentinel
27-10-2009, 07:32 PM
Wah...throw away your S&P? I keep all my S&Ps even after I have sold the properties. One, for reference. Two, anytime the Income Tax comes after me, I have the file. After all, the S &P is just a simple document, why throw away?Not only S&Ps lah Patrick... every transaction slips from the remisier and every car loan agreement too... even old savings passbook just to prove the cash flow... these income tax hounds can spend an entire week with you including asking you to open your home safe plus safe deposit boxes etc...

patrick
27-10-2009, 07:49 PM
Not only S&Ps lah Patrick... every transaction slips from the remisier and every car loan agreement too... even old savings passbook just to prove the cash flow... these income tax hounds can spend an entire week with you including asking you to open your home safe plus safe deposit boxes etc...

Yeap..me too!! Wise men think alike or fools rush in?? Hahaha!!
Wahh..open safe deposit boxes? Serious ah? Say you dont have lah!

Sentinel
27-10-2009, 07:51 PM
Yeap..me too!! Wise men think alike or fools rush in?? Hahaha!!
Wahh..open safe deposit boxes? Serious ah? Say you dont have lah!They are thorough and well-trained lah... they look thru your bank statement and they ask you... whats this deduction from the bank for... you stay quiet but the wife blurted out... thats the annual rental of safe deposit box mah... ooops...

AllUrban
28-10-2009, 05:10 PM
Can I pass along this note from Najib's website...an interview in Thailand


Suthichai Yoon: Your first budget bill is before parliament. It mentions interesting issues such as anti-corruption, slashing deficits, cutting expenses and reduced subsidies on food and fuel.

Najib: Well, people who deserve subsidies will still get them, but if you drive a Ferrari or Porsche, do you deserve a subsidy? We are coming up with a new system to differentiate targets. We have some idea of what kind of car you drive. It is not about income, but if you own a 2500cc car or above, then you should not get a subsidy. I don't know whether it is effective elsewhere in the world, but I believe we could save billions from this exercise.You are warned.

Cheers, m

VeeJay
28-10-2009, 05:14 PM
aiyo...tu macam huh...thought of getting a second-hand cefiro 3.0 which only cost RM45K :mad: :confused: :eek:

lohmee
28-10-2009, 05:20 PM
Looks like Najib is going to repeat the rebate via road tax renewal scheme again - that's the only way, he can differentiate between what cars and the only time every car owner has to present themselves so to say .... aiya .... long long queue at the post office again :) (still got rebate better than none !!)

AllUrban
28-10-2009, 06:06 PM
Looks like Najib is going to repeat the rebate via road tax renewal scheme again - that's the only way, he can differentiate between what cars and the only time every car owner has to present themselves so to say .... aiya .... long long queue at the post office again :) (still got rebate better than none !!)or somehow they will attached your roadtax to the myKad?

Cheers, m

Sentinel
28-10-2009, 06:12 PM
They did it before lah AllUrban, just bring your myKad and road tax and fill in a simple form and receive cash from the post office... that was during the last petrol price hike.... but only for cars below 2,000 c.c. :mad:

AllUrban
28-10-2009, 06:17 PM
They did it before lah AllUrban, just bring your myKad and road tax and fill in a simple form and receive cash from the post office... that was during the last petrol price hike.... but only for cars below 2,000 c.c. :mad: Sentinel I remember that rebate system...but I do note that the PM was implying there would be direct, targeted subsidy and it sounded like something at the petrol station/petrol pump....

So if they link your road tax details to your myKad, then that would (presumably?) unlock the subsidy (if you have a less than 2500 cc car).

Anyways, we do have to wait and see but it will be in place by March. But he did mention the 2500 cc cars specifically so we can expect that as the cut-off point.

Hmmm...wonder how it affects motorcycle riders and Residents of Malaysia who are driving the wifey's car? :confused:

Also wonder how people will manage to find their way around the system. :eek:

Cheers, m

Sentinel
28-10-2009, 06:25 PM
Hmmm...wonder how it affects motorcycle riders and Residents of Malaysia who are driving the wifey's car? :confused:
Well, if the car belongs to the wife, the wife just go and collect the money from the post office lah... its not who drives the car, in whose name is the car registered in?

usehead
30-10-2009, 01:26 PM
Hope Uncle Lim will fight for Rakyat..... All the injustice and discrimination for decades have to be put to an end :p .

AllUrban
02-11-2009, 02:50 PM
He's fighting alright...

http://blog.limkitsiang.com/2009/11/01/the-2010-budget-sound-and-fury-without-substance/ and 3 more like it.

I know Im treading on the line between politics and economics but this is mostly economics.

Cheers, m

Sentinel
02-11-2009, 03:18 PM
Understand the two main issues from the 2010 Budget ie the RM50 fees on Credit Card and the RPGT are being hotly debated "internally" within the bankers association, the real estate developers and of course within the Finance Ministry / Economic Action Council... I foresee a U-turn coming up soon...

Jennylim
04-11-2009, 10:59 PM
Was having the same thoughts. To me, not enough thoughts put into the budget.

Worst ever! So many weaknesses!

A friend involved in budget preparation before said work started few months before budget. This time around PM was asking people to suggest what to look into about 1 month before budget!

Did he take in any suggestion put up by the people?

What budget? RM28billion not enough for pocket money? Don't worry! taxlah!

If he is really interested in peoples and nation development, he needs only to claim back the RM28billion and stop another RM28billion or more pocket money in the coming year. Don't need RPGT or Credit card tax (How many RM500m is there in RM28billion?).