Personally i agree with the government's position. You see, majority in malaysia is dumb enough to plan their retirement . The moment , they get their hands on EPF money - they instantaneously spend it.

Example , if you have 2 mil in your epf - the right thing to do is to just withdraw the dividend and survive based on the dividend alone . With 2 mil in account, you can afford to live a decent live ~ RM 120,000 on average .

I knew an idiot ( My father ) who took out close to 1.8 mil and finished using them in 5 yrs and now became a professional beggar .
120k - give out to sister cos she is poor
loan to friend
renovated a properly functioning kitchen

At this moment i told him, if you want money from me , please itemize all your expenses before we can discuss about me supporting you financially .

This post has been edited by akidos: Jul 7 2023, 12:55 PM

Dude the majority doesnt know how to manage the money . you dont see yourself but the morons , cleaner or the technicians who spends all his money modifying his dumbass motorbike instead of sending his kids to kumon .

Yes that how it works , if the government intends to protect the people .

i thought share holder divided coming from business . if i remember correctly , share holders often opt to take dividend instead of salary . now they are going to tax thah .

where , it's the same shit everywhere .

Either you risk moving your net asset to overseas with unstable currency , or you get imposed these tax . Infact , Malaysian taxation is a lot more lenient compared to other countries . I was stocktwits , Americans must pay tax for the earnings they made through stock trade , wherelse Malaysian government dont bother . In fact , its' so much better for malaysian to invest in US stocks than American investing in US stocks .