Yup, GST need whole range of proper implementation which unlike persona income tax which focus on individual only.

When GST implemented, personal income tax will be lowered down as gov source of tax is from GST already, not focus on personal income tax.

The idea of GST is taxed whenever you spend, so you spend less, you are being taxed less, the rich spend more so being taxed more, this sound fair on theory, but practically wise, it is the poor will suffer most as manufacturers, traders will pass the cost to the consumer side. Rich one won't be affected much a 10% increase on goods, but poor one even 5% incremental will put a lot of stress on the poor one. We can forsee a sudden spike of inflation when GST being introduced time.

A second reminder, please don't include the blog link in Every posts, use singature instead.

Thank you for the cooperation.

Our government never fail to 'impress' the people with their thoughtless decision. For example, an average joe earn RM3k a month. Not only he has 11% less after deducting EPF, he has to contend with the possibility of having government taxing 10% of it for SPENDING. Ontop of that, he still have to pay income tax. How is that suppose to benefit the people?

Tax is an expense for living in a civilize society.
The government had paid for schools, build roads, heavily subsidize hospital bill, etc.
That is the benefit you are talking about.

Apart from the general transparency in disbursements from the tax collected, any other hidden agenda and/or other avenue for "discretion" fund channeling?

Regards, Joey

Najib on Bloomberg



http://www.bloomberg.com/apps/news?pid=206...id=aTWsE2VnJDSI

Not only that, our taxes paid also go to some ppl's pockets as "extra income" by paying extra to contractors & suppliers for gov projects & barang used in office, which is always more expensive than the market prices 80% of our taxes to benefit them & remaining 20% benefits the citizens of Malaysia, this is a fact, we cannot deny it, we have use to it & have to take it because this is Malaysia, Malaysia always boleh!

@mars1069
That's true, but that's a problem to be solved outside the budget.

Reducing tax substantially is not going to mean ppl are gonna "pocket" less. It'll just mean even less money to be spent on our country.

That is because Malaysians choose to have such a government. We can only blame on ourselves.

@jasonhanjk,
I'm quite sure there's corruption everywhere; it's just that we're too 'open' about it here. Having said that, I too agree the government should get their act together even before they start burdening us with more taxes

As it is, we're oredi paying a lot of tolls [at least in Klang Valley we are!] plus really, is our petrol being subsidised & are we really not paying more for petrol by introducing RON 95 at the price of RON 97?

Note the extra RM1000 only applies for annuity insurance products sold by insurers. The intetntion is to encourage savings for retirement rather than for protection (i.e. buying insurance)

This post has been edited by calibre2001: Oct 24 2009, 02:11 PM

@calibre2001,
I'm quite sure most of us will benefit from it; as it is, most of us probably pay much more than RM6k to EPF. Well, maybe for those who doesn't have those annuity insurance then cannot benefit *shrugs*

Ah well... March is usually the month I'm most broke

read from oriental jz now...
the impression i got from there is...
not jz the service tax on credit card is impose...
but there wont be annual fee waiver permitted as well...
anyone can clarify....?

regarding petrol subsidy, i think they will categorize and pull data from ur MyKad, which eventually, some get subsidy, some don, some kena fuel tax

all in all, he claims it is beneficial to all
i ll say, beneficial to lower income group and the riches, but not the middle income range...instead might be ripping the middle one to feed the rich and poor

I wonder who is the 'clever' mastermind behind all the BUDGET 2010. This is a very stupid way of controlling credit cards and benefits only to the people behind all this BUDGET 2010.

This will burden us the consumer.
Do you think we take credit card for fun, hell "NO" it is a necessities. I do agree some group of people do take creditcard as an addiction.
To control people spending they should have impose more stringent rules and regulations on the applicant.

Another thing is the, reduction in tax for income => $100K per annum. What about majority of the people trying to survive with income less than 100K per annum? We are already getting abused from low salary and yet you GOV provide us shitty BUDGET 2010.

Yes right...haha... $500 for internet. I am sure you GOV have done your homework and calculation on how many ppl have Internet access right. Anyhow, ISP here are already making huge profits from us and provide lousy Internet Broadband.

At the end, the rich gets richer, and the poor gets poorer. It's sad once again, the GOV have a greedy mind and stupid brain...oppsss they are not stupid but evil.

And I wonder how newspapers mentioned Bag of Goodies in this Budget 2010. I guess the publisher/author force himself to write / print that.

THE goverment said want to minimise rakyat debt with the credit card tax. Some how a person who have one credit card because of the convinient may counter the extra charce rm50 annually. Why gov not just tax on second and onward. Can the gov do not sqeeze our hard earn money.

What we can obserb is gov need money and try to digg from here and there. Our living cost nowaday increase is not propotional with our income. Digg rakyat money is not a proper way. Gov should try to compete with foriegn country. With the natural resources, geografical location, industries, finance and others resources where Malaysia have, We believe Malaysia can stand at the world top rich country if THEY could manage well.

"Employees' EPF contribution to be increased to 11% again, on a voluntary basis, effective immediately. However, from Jan 1, 2011 employees' EPF contribution will revert to 11%"

When this increase to 11% the employers also will fork out more money for our EPF contribution issit?

This post has been edited by Disagree: Oct 24 2009, 03:48 PM

Ain't it is state employee. Employer part never change before (when employee portion being lowered down to 8%) until now.

dude....it was adjust from 11% to 8% previously lah...duh....
the employee part only....when the economy not so "good shape" and the "kind" gov say to let ppl hav more cash flow...
it was suppose to return back to 11% sometime later(2years)
so this is jz following the plan....

u expect employer to increase oso ah....??? (make it in ur dream)

we r more worry now they will lower it to woo and try to retain investor....
don forget the FDI is dropped 80++ %

i've got some opinion

1) the rm50 on cc ... the G shud haf increase the criteria of gettin a cc instead of this service charge ... if a person is goin to abuse the cc do u think he will concern bout the rm50 imposed? at the end this will onli burden other cc users ... n the G said wanna increase spending to stimulate the econ , now they r trying to limit the cc in the economy ... sounds contradicting

2) the max income tax reduced to 26% ... but this will onli benefit those with higher bracket income ... the G might wanna help those sme business owners who might reach tht particular income bracket ... but how bout those middle range who earn below tht bracket? now thr is a rebate of rm350 ... i think tht by increasing this rebate will benefit more ppl

3) i heard some bout the witholding tax? it is being implement back into the system?

other things i would say it's not the best yet but it's better than nothing ....

we have lousy healthcare here...our roads got many potholes,uneven roads...our public transport sux....we have minimal benefit...

talk about the 50rm service tax...its stupid...what did the gomen service to cc user ? plain daylight robbery...dis is not a way to encourage ppl to spend wisely..dis is a way to increase gomen income...how many millions of card user in the country + 25rm supplements i think gomen will rake in alot ....the bank on the otherhand will lose alot bcoz of dis...ppl who hold quite alot of cards will try to cancel few means bank will lose customers....damn...dis is wat we call budget....