Our Prime Minister cum Finance Minister Datuk Seri Najib has given the country's budget 2011 today's late afternoon. With the reference of the report, below are the top 10 heavyweight highlights:
(1) Pay 6% service tax for watching Astro
Astro monthly subscription fee will be added with a service tax of 6% effective from next year. The relevant tax will be imposed on paid satellite broadcasting services.
(2) Toll rates in 4 highways will not be raised
Toll rates in 4 highways owned by PLUS Expressway Bhd will not be raised for the next 5 years, effective immediately.
(3) Family with RM3,000 or below entitled for 100% house loan
Introduction of "Skim Rumah Pertamaku" which will provide a guarantee on down payment of 10 per cent for houses below RM220,000 for first-time house buyers.
(4) Launch of Private Pension Fund
To revitalise capital market activities, the Goverment will launch a Private Pension Fund in 2011.
(5) Tax deduction of RM5,000 for veterans' medical expenses
Existing tax relief of up to a maximum of RM5,000 be extended to cover other expenses such as day care centre, cost incurred to employ caretakers for parents and other daily needs such as diapers.
(6) Low grade civil servants to obtain RM500
Special Financial Assistance amounting to RM500 to be provided to all civil servants from Grade 54 and below, including contract officers and retirees.
(7) Disabled citizens are tax exempted from buying national car
Disabled citizens are totally exempted from paying national car tax.
(8) Female civil servant maternity leave's extends to 90 days
Allowing flexibility to self-determine fully-paid maternity leave not exceeding 90 days from the current 60 days subject to a total of 300 days of maternity leave throughout the tenure of service.
(9) Tax exempted for branded handbegs & boutiques300 stuffs favour by tourists will be tax exempted instead of collecting 5 to 30% tax, including handbeg, clothes, etc. This is to boost up the local shopping market.
(10) To build 100-storey tower with RM5 billions
Another landmark project "Warisan Merdeka" which includes a 100-storey tower, the tallest in Malaysia, at a cost of RM5 billion to be completed by 2015.
So, no surprise, thumb up or boo?
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