Malaysia Budget 2012

Skim Rumah Pertamaku (SRP) – My First Home Scheme was first announced in the 2011 Budget by the Malaysian Government to assist young adults who have just joined the workforce, earning RM3,000 per month or less to own  their first home.

The Scheme allows young adults to obtain 100% financing from financial institutions, enabling them to own their 1^st home without the need to pay a 10% downpayment. This is in line with the Government’s aspirations of increasing home ownership amongst the “rakyat”.

Many may be asking – how does this work? Is there a special government agency set up for this scheme? Do I need to apply to any government agencies to qualify for this 100% housing financing? You may find the answer below.

Read more ›

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Malaysian Government is progressively releasing the RM500 cash aid to its people since January 2012. However, some applications were rejected due to incorrect, incomplete or insufficient information given or attached with the application submitted.

You may appeal the case with MOF by giving more information and supporting documents or evidence (such as pay slip). All you need to do is to fill up the appeal form and submit to the nearest LHDN offices together with the relevant supporting documents.

Download appeal form here:  Read more ›

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The deadline for the public to submit the application form for the RM500 Bantuan Rakyat 1Malaysia (BR1M) scheme has been extended to Feb 10, 2012.

Second Finance Minister Datuk Seri Ahmad Husni Hanadzlah said the form could be submitted at all Inland Revenue Board (IRB) offices and agencies handling the aid.

The one-month extension came following appeals from those who were unable to submit the form by Tuesday.  Read more ›

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Pembayaran Bantuan Rakyat 1Malaysia (BR1M) akan bermula pada 15 Januari 2012 dan akan diberikan dalam bentuk baucar tunai. Majlis-majlis penyerahan baucar BR1M kepada pemohon yang berjaya akan diadakan secara berperingkat di seluruh Negara.

Tempoh penyerahan baucar akan berjalan selama dua bulan, iaitu sehingga 15 Mac 2012. Ini bagi mempastikan pembayaran dapat dilaksanakan secara tersusun dan lancar agar tiada keciciran kepada pemohon yang layak menerima bantuan.  Read more ›

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Applicants for 1 Malaysia People’s Aid (BR1M) should not be worried over rumours that the Inland Revenue Board (IRB) will use the information received to chase after the potential taxpayers.

Those families earning total monthly income of less than RM3,000 are no way near to the categories that need to pay tax!

Let’s work out a simple tax computation for a person that earning exactly RM3,000 per month:  Read more ›

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The statement by Second Finance Minister Datuk Seri Ahmad Husni Hanadzlah that the Government will ensure that all eligible households are not left out of receiving their RM500 aid under the Bantuan Rakyat 1Malaysia Scheme (BR1M) will surely be well received.

This cash assistance for households with a monthly income of RM3,000 and below was announced in the 2012 Budget presented to Parliament.

Judging from media reports, it is obvious that BR1M has received tremendous response, as many cash-strapped Malaysians, especially those in the low-income groups, are looking forward to the cash assistance.  Read more ›

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Malaysia Ministry of Finance (MOF) open up a toll-free hotline 1-800-222-500 to answer enquiries and provide clarification in relation to RM500 cash aid for Malaysian earning RM3,000 or less a month.

Toll-free hotline : 1-800-222-500
Operation hour: 9:00am to 5:00pm (working day)
Email: belanjawan2012@treasury.gov.my
Hotline start from: 7 December 2011  Read more ›

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Malaysian Ministry of Finance (MoF) has issued a Media Release stating the long-sought-after definition of “Household” as to who will eligible for the one-off RM500 cash assistance.

As announced in Tax Budget 2012 on 7 Oct 2011, one-off cash assistance of RM500 will be given to all households with a monthly income of RM3,000 and below in order to ease their increasing cost of living, but the meaning of “household” was not defined during the Budget 2012.  Read more ›

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Dividend income derived from your investment in REITs will continue to be taxed at 10% final withholding tax from 2012 until 2016.

For you other investments, you are “deemed” to be taxed at 25%, being the corporate tax rate, as tax paid by the company you invested in will be final tax and no tax credit will be able to frank up to you when you receiving the dividend (under single tier dividend imputation system).

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Franchise fee is now tax deductible in Malaysia, announced by Prime Minister Dato Seri Najib in Budget 2012.

Franchise is a business model where franchisee is given the rights to offer, sell or distribute products or services based on the systems and marketing plans set by the franchisor. Read more ›

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