Friday, October 23, 2009

Budget 2010

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Highlight of Budget 2010: - that interested to me...

1. Individual tax relief on broadband subscription fee up to RM500 a year from 2010 to 2012.
but not for 2009....arh.

2. RM1.5bil fund to promote green technology by providing soft loans to to companies that supply and use green technology

3. Rewards for students who excel in studies:
- 30 National Scholarships to the creme de la creme of students stictly based on merit
- Convert PTPTN loans to scholarships for students who graduate with 1st class honours degree, beginning from 2010,
- Offer a netbook package, including free broadband service, to university students for RM50 per month for 2 years.

4. Insurance industry to be improved to meet market demand.

5. To ensure that fuel subsidies only benefit targeted groups, Govt will implement a fuel subsidy management system in early 2010, which will utilise the MyKad........but only 2010...

6. RM30 billion allocated for primary and secondary education, among others, for student assistance and scholarships and to build 80 new national and primary secondary schools, government-aided religious schools, national-type Chinese and Tamil schools and mission schools....but how many % really goes to chinese and tamil schools?

7. Personal relief for EPF and life insurance schemes to be increased to RM7,000.

8. Personal relief increase from 8k to 9k

9. personal tax reduce from 27 to 26%. but that means only the rich guy become richer, not the general public.... What the heck?

1. To promote prudent spending, a service charge of RM50 a year to be imposed on each principal credit card and charge card; and RM25 a year on each supplementary card, effective from Jan 1, 2010.

2. To promote house ownership, Govt will launch a scheme that enables EPF contributors to utilise current and future savings in Account 2.....idea of using future saving is not good. Again, my stand on EPF, it is meant for future retirement, not for current use. So current Acc2 is ok for draw out, not future saving

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