Stock Market Books

Friday, August 29, 2008

Budget 2009 highlights

29/8 Sabah will get RM 580 million for upgrading of power, water and rural roads, Sarawak is allocated RM 420 million.

29/9 Government will reduce import duties on various consumer durable from between 10% and 60% to between 5% and 30%.

29/8 Current tax rebate of RM 350 per person raised to RM 400 for those with taxable income of RM 35,000 and below, 100,000 to be out of tax net.

29/8 To improve public transportation, RM 35b will be spent from 2009-2014, including improving rail tracks.

29/8 Government proposes 50% stamp duty exemption to loan agreements for medium cost houses up to RM 250,000. Now this is only for low-cost houses.

29/8 Government servants will get free airfares to home states between peninsular Malaysia and Sabah and Sarawak yearly, effective Jan 1, 2009.

29/8 Civil servants will get bonus of one-month salary, subject to a minimum of RM 1000, to be paid in two installments – in Sept and Dec 2008.

29/8 Toll charges for all buses to be cut by 50%, except at border entry points for a period of two years, effective 15 Sept 2008.

29/8 Government proposes venture capital companies that invest at least 30% of funds in start-up, early stage, to get 5-year tax exemption.

29/8 Exemption of 100% import duty and 50% excise duty on new hybrid CBU cars below 2000 given to franchise importers for two years.

29/8 Fate of Maybank’s takeover of Bank International Indonesia is in Malaysia’s hand, says Indonesian regulator, and will not make exceptions.

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