Monday, October 10, 2011

Is my Budget 2012 wish list materialised ?

Is my 8 wish list being answered in Budget 2012?

1) Personal tax cut,
- Increased the individual tax rebate from RM35,000 to RM50,000 for the entitlement of RM400 deduction,

PM's Budget: No, not in the Budget 2012.

- Government should also increase the Insurance+KWSP limit from existing RM6,000 to RM8,000 or more. Indirectly it will encourage rakyat to save money by buying more insurances for themself.

PM's Budget: Yes, it is in the Budget 2012.

- Increased the individual relief from RM9,000 to RM11,000

PM's Budget: No, not in the Budget 2012.

2) Lower tax to car, so rakyat can afford to buy cheap car, this is in-line with the oil subsidy is being reduced periodically.

PM's Budget: Yes, only for hybrid car. Better than nothing.

3) To increase the retirement age from current 55 to 60 but retain the optional retirement age of 50.

PM's Budget: Yes, it is in the Budget 2012 BUT only applicable for civil servant.

4) To increase the Employer EPF contribution for employee from 12% to 15%. Therefore saving more for rakyat before retired.

PM's Budget: Yes, it is in the Budget 2012 BUT only applicable income-earner not more than RM5,000.

5) Remove 6% service charge incurred by Astro to rakyat. There should incur this charge only to business outlet instead of rakyat.

PM's Budget: No, not in the Budget 2012.

6) Government should seriously look into the public transport system. If we have a good public transport system, definitely it will help rakyat to reduce transportation burden. Indirectly rakyat don't have to fork out lots of money to buy car and also reduce fatality on the road.

PM's Budget: Yes, it is in the Budget 2012.

7) To help poor to reduce their daily burden, government may consider to introduce a 'food for poor' system. To provide subsidy or free food for the poor.

PM's Budget: Yes, it is in the Budget 2012.

8) To encourage rakyat to read more, government should reduce the import tax for books.

PM's Budget: Yes, it is in the Budget 2012.

Not bad, at least some of them are being tabled in the budget. This is definitely an election budget, a lot of money being poured into Rakyat pockets especially low income-earners.

General Election is not far away..............

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