Extract from : http://stocktube.blogspot.com/2009/03/mini-budget-or-major-leakage-wherere.html
1) Income tax cut for employees and corporate tax reduction – not a single word can describe the disappointment from the many faces of the people I asked after the mini-budget. So there’s nothing for the average-Joe on this much-awaited goodies.
- Why can't the government reduce income tax and follow Singapore tax rate?
Table 1: Singapore Tax Rate
Table 2: Malaysia Tax Rate
2. RM674 million in subsidies for sugar, bread and wheat flour – not much effect to the people since the damages from the previous fuel hike to RM2.70 a liter is still around, alive and kicking.
1) Income tax cut for employees and corporate tax reduction – not a single word can describe the disappointment from the many faces of the people I asked after the mini-budget. So there’s nothing for the average-Joe on this much-awaited goodies.
- Why can't the government reduce income tax and follow Singapore tax rate?
Table 1: Singapore Tax Rate
Table 2: Malaysia Tax Rate
2. RM674 million in subsidies for sugar, bread and wheat flour – not much effect to the people since the damages from the previous fuel hike to RM2.70 a liter is still around, alive and kicking.
Gardenia bread increase from RM 1.70 to RM 2.10, until today no decrease. Luckily my taman shop sell only RM 1.80.
3. RM480 million compensation to toll operators to ensure toll rates remains – but those RM480 million belongs to the taxpayer in the first place, no? And why no proposal to privatize the highways? Sure, how stupid I am to think that would happen because UMNO is the greatest beneficiary from these toll hikes.
I would highly suggest to buy out PLUS. Please do something rakyat.
4. Government to create 163,000 training and job placement for retrenched workers and unemployed graduates – just make sure unemployed Mat Rempits are not given free money (training allowance etc) but skipped training classes for illegal races *grin*. It would be a great waste to flush the RM700 million into the drains.
How many really benefited from this training and job placement? Every year and every time budget sure include this one. Why they like to cook back the same thing the same way.
5. Tuition fees assistance of RM20,000 and RM10,000 for PhD and Masters program – do you think retrenched and jobless people could still afford such program in the first place?
Rakyat already felt depressed and who have the logical thinking to study?
6. Company’s current year losses be allowed to be carried back to the immediate preceding year – cool but why limit the losses to the cap of RM100,000 per year?
6. Company’s current year losses be allowed to be carried back to the immediate preceding year – cool but why limit the losses to the cap of RM100,000 per year?
Why RM 100, 000 not RM 200, 000?
7. Employers who employ workers retrenched from 1 July 2008 be given double tax deduction (not exceeding RM10,000 per month) on the amount of remuneration paid – this is a good measure.
7. Employers who employ workers retrenched from 1 July 2008 be given double tax deduction (not exceeding RM10,000 per month) on the amount of remuneration paid – this is a good measure.
This will encourage employer who are making money to employ.
8. Government will recruit 63,000 staff to fill vacancies and serve as contract officers in various Government agencies – while the intention is good the same cannot be said about the productivity since it’s more like squeezing more sardines into the already overlapping job functions.
Will the retention time in government agency be shorten? More people not necessary good?
9. Allocation of RM1.95 billion to build and improve facilities in 752 schools, particularly in rural areas as well as Sabah and Sarawak – again make sure the leakages (or rather corruption) can be contained but don’t be surprised if only a fraction of the dollars ended up in such schools. Besides, it was never the intention of the federal government to breed smart people from these two states since it would be easier to control and buy their votes if their status quo remains.
You want to build 6 stars school but with 1 stars mentality.
10. RM230 million to increase Sabah and Sarawak’s electricity and water supply coverage – it’s strange that after half a century of independence Sabahan and Sarawakian are still without the basic amenities.
I heard they pangsai and it go inside the river.
I heard they pangsai and it go inside the river.
11. More goodies for Sabah and Sarawak with RM1.2 billion allocation for projects such as Sibu Airport expansion, Miri Port, Kota Kinabalu Electricity Transmission System, Queen Elizabeth Hospital etc – again, leakages, leakages and more leakages.
We can eat as much as we can.
We can eat as much as we can.
12. Banking institutions to defer the repayment of retrenched workers’ housing loans for one year – as if the bank has other choice and would like to take over these properties which would generate no cash-flow to them. The banks have indeed learnt from the 1997-1998 Asia Crisis.
More lelong house on the way.
More lelong house on the way.
13. Government will assist in the auto-scrapping scheme whereby a RM5,000 discount will be given to car owners who trade in their cars, which are at least 10 years old, for the purchase of new PROTON or PERODUA cars – why limit it to proton and perodua and not other models as well? Are you trying to simulate the automobile industry as a whole or merely to prevent proton and perodua from going bust?
Hopefully this one can make proton share price recover from RM 1.80.
Hopefully this one can make proton share price recover from RM 1.80.
14. Malaysia Airports Holdings Berhad will build and operate a new LCCT at Kuala Lumpur International Airport (KLIA) at an estimated cost of RM2 billion which is expected to be ready in 2011 – is this an admission that the current LCCT was built in haste with the intention to force AirAsia to pull its growing passengers to the dying KLIA? I still couldn’t find the real reason why AirAsia could not operate from the Subang Airport but instead to operate from factory-converted-liked LCCT terminal at KLIA.
At the first place, why built LCCT at Sepang and now build another one near KLIA. Why can not plan properly and build only one LCCT and extend slowly?
At the first place, why built LCCT at Sepang and now build another one near KLIA. Why can not plan properly and build only one LCCT and extend slowly?