Malaysia Budget 2013 Summary

Posted by Kris | Saturday, September 29, 2012 | | 3 comments »


Here are the Malaysia Budget 2013 Summary. There is a lot more goodies from the government as expected since election is lurking nearby. Now at least some goodies targeting the middle income, the 1% reduction in the chargeable income. Not a lot, but at least got something.


One-off rebate of RM200 for purchase of 3G smartphone for youths aged between 21 and 30 with monthly income of RM3,000 and below/STAR

Under BR1M 2.0, RM250 assistance extended to single unmarried persons aged 21 and above, earning not more than RM2,000 a month

RM1.9bil allocation to build 123,000 affordable housing units in strategic locations like KL, Shah Alam, JB, Seremban and Kuantan

Tun Razak Exchange expected to attract 250 international companies and offer 40,000 jobs; 10-year tax exemption for companies with TRX status

Minimum pension increased to RM820 monthly for those who have served the govt for at least 25 years

50% discount on KTM Komuter fares for all Malaysians with monthly income of RM3,000 and below

Individual income tax rates to be reduced by 1% point for the first RM50,000 of chargeable income

Students in institutions of higher learning to get RM250 1Malaysia Book Voucher, an increase of RM50

Tax incentives for private entrepreneurs in oil and gas industry include 100pc income tax waiver for 10 years

Lastly, the RGPT for 1st and 2nd year disposal has been increased to 15% instead of 10%. (This was something I expected to cool off the property market)



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3 comments

  1. ChampDog // 1:31 PM  

    Don't know how much I can get out from here. Maybe is only the 1% tax reduction for first RM5OK.

  2. Kris // 12:27 AM  

    Better than nothing right? :D

  3. ChampDog // 9:07 AM  

    Not sure is it the first RM50K. LCF said it may not be. So I may end up get nothing of it!