Interesting Parts:
1. Enhancing Health Services
- Excise duty specific on cigarettes increased by three sen from 15 sen per stick to 18 sen per stick. With this, the duty for a 20-stick pack of cigarettes is now increased by 60 sen.
2. Eradicating Poverty
- RM580mil and RM420mil allocated for Sabah and Sarawak respectively to increase income and enhance quality of life of Malaysians there by improving basic amenities, such as electricity, water and rural roads.
- Households which incur monthly electricity bills of RM20 or less, will not have to pay for electricity, for the period from 1 October 2008 to end of 2009.
- The current tax rebate of RM350 per person be increased to RM400 for those with taxable income of RM35,000 and below.
- All interest income from savings for individuals be tax exempt.
- Full import duty exemption on several food items, which currently attract import duties of between 2% and 20%. These include vermicelli, biscuits, fruit juices and canned sweet corn
3. Enhancing The Welfare Of Employees
- Mobile phones, as well as telephone and internet bills paid by the employer;
4. Improving Public Transportation
- The existing LRT system in the Klang Valley will be extended by 30km, that is 15km respectively, for Kelana Jaya and Ampang lines. Upon completion in 2011, the extensions are expected to benefit 2.6 million residents in the Subang Jaya-USJ and Kinrara-Puchong areas, compared with 1.9 million currently.
- A new LRT line will be built along a 42km route from Kota Damansara to Cheras; to be completed in 2014.
5. Improving Public Amenities
- Allocation of RM3bil to intensify efforts to further develop Sabah and Sarawak for infrastructure projects, including 266 km of federal and rural roads, benefiting more than 550,000 residents.
- An allocation of RM3.3bil is provided for Sarawak to implement various projects, including the construction of 230 km of federal and rural roads, benefiting more than 350,000 residents.
6. Second Strategy: Developing Quality Human Capital
- To meet the need for new schools and replace dilapidated schools, 110 primary and 181 secondary schools will be built. In addition, to ensure that existing schools are well maintained, an allocation of RM615mil is provided.
- The highest marginal tax rate for individuals be reduced from 28% to 27%, effective the year of assessment 2009. In addition, the marginal tax rate of 13% will also be reduced to 12%, which will benefit the middle income group.
7. Promoting Tourism
- RM50mil for conservation works of heritage sites in Malacca and Penang to support activities undertaken by non-governmental organisations (NGOs) and private sector.
8. Promoting Venture Capital Companies
- Venture capital companies that invest at least 30% of their funds in start-up, early stage financing or seed capital be eligible for a 5-year tax exemption.
9. National Energy Plan
- Exemption of import duty and sales tax on solar photovoltaic system equipment, import duty and sales tax on intermediate goods such as High Efficiency Motors and insulation materials; sales tax on locally manufactured solar heating system equipment; sales tax on locally manufactured energy efficient consumers goods such as refrigerators, air-conditioners, lightings, fans and televisions; and 100% import duty and 50% excise duty on new hybrid CBU cars, with engine capacity below 2,000 cc, be given to franchise importers. This exemption is given for a period of two years to prepare for the local assembly of such cars.
10. Ensuring Public Safety
- RM5.4bil is allocated in the 2009 Budget to enhance the capacity of the Royal Malaysian Police (PDRM). Of this, RM4.8bil is for Operating Expenditure and RM600mil for Development Expenditure.
- RM220mil is allocated in 2009 for the construction of police headquarters and stations nationwide.
- For the period 2008 to 2010, a total of 22,800 constables and 3,000 inspectors will be recruited. In addition, the special incentive allowance for PDRM personnel will be increased from RM100 to RM200 monthly, effective Jan 1 2009.
11. Civil Service
- A bonus of one-month salary, subject to a minimum of RM1,000 for 2008. The bonus will be paid in two instalments, namely in September and December 2008.
1. Enhancing Health Services
- Excise duty specific on cigarettes increased by three sen from 15 sen per stick to 18 sen per stick. With this, the duty for a 20-stick pack of cigarettes is now increased by 60 sen.
2. Eradicating Poverty
- RM580mil and RM420mil allocated for Sabah and Sarawak respectively to increase income and enhance quality of life of Malaysians there by improving basic amenities, such as electricity, water and rural roads.
- Households which incur monthly electricity bills of RM20 or less, will not have to pay for electricity, for the period from 1 October 2008 to end of 2009.
- The current tax rebate of RM350 per person be increased to RM400 for those with taxable income of RM35,000 and below.
- All interest income from savings for individuals be tax exempt.
- Full import duty exemption on several food items, which currently attract import duties of between 2% and 20%. These include vermicelli, biscuits, fruit juices and canned sweet corn
3. Enhancing The Welfare Of Employees
- Mobile phones, as well as telephone and internet bills paid by the employer;
4. Improving Public Transportation
- The existing LRT system in the Klang Valley will be extended by 30km, that is 15km respectively, for Kelana Jaya and Ampang lines. Upon completion in 2011, the extensions are expected to benefit 2.6 million residents in the Subang Jaya-USJ and Kinrara-Puchong areas, compared with 1.9 million currently.
- A new LRT line will be built along a 42km route from Kota Damansara to Cheras; to be completed in 2014.
5. Improving Public Amenities
- Allocation of RM3bil to intensify efforts to further develop Sabah and Sarawak for infrastructure projects, including 266 km of federal and rural roads, benefiting more than 550,000 residents.
- An allocation of RM3.3bil is provided for Sarawak to implement various projects, including the construction of 230 km of federal and rural roads, benefiting more than 350,000 residents.
6. Second Strategy: Developing Quality Human Capital
- To meet the need for new schools and replace dilapidated schools, 110 primary and 181 secondary schools will be built. In addition, to ensure that existing schools are well maintained, an allocation of RM615mil is provided.
- The highest marginal tax rate for individuals be reduced from 28% to 27%, effective the year of assessment 2009. In addition, the marginal tax rate of 13% will also be reduced to 12%, which will benefit the middle income group.
7. Promoting Tourism
- RM50mil for conservation works of heritage sites in Malacca and Penang to support activities undertaken by non-governmental organisations (NGOs) and private sector.
8. Promoting Venture Capital Companies
- Venture capital companies that invest at least 30% of their funds in start-up, early stage financing or seed capital be eligible for a 5-year tax exemption.
9. National Energy Plan
- Exemption of import duty and sales tax on solar photovoltaic system equipment, import duty and sales tax on intermediate goods such as High Efficiency Motors and insulation materials; sales tax on locally manufactured solar heating system equipment; sales tax on locally manufactured energy efficient consumers goods such as refrigerators, air-conditioners, lightings, fans and televisions; and 100% import duty and 50% excise duty on new hybrid CBU cars, with engine capacity below 2,000 cc, be given to franchise importers. This exemption is given for a period of two years to prepare for the local assembly of such cars.
10. Ensuring Public Safety
- RM5.4bil is allocated in the 2009 Budget to enhance the capacity of the Royal Malaysian Police (PDRM). Of this, RM4.8bil is for Operating Expenditure and RM600mil for Development Expenditure.
- RM220mil is allocated in 2009 for the construction of police headquarters and stations nationwide.
- For the period 2008 to 2010, a total of 22,800 constables and 3,000 inspectors will be recruited. In addition, the special incentive allowance for PDRM personnel will be increased from RM100 to RM200 monthly, effective Jan 1 2009.
11. Civil Service
- A bonus of one-month salary, subject to a minimum of RM1,000 for 2008. The bonus will be paid in two instalments, namely in September and December 2008.
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