Thursday, March 12, 2009

2009 Mini Budget - What in it for the Wage Earners


What the MiniBudget will mean for me?

The Sun reports the following advantages for the Wage Earners in the RM60B Mini Budget 2009

Tax Relief for Housing LoanWill be nice for those who already have purchase a house.

Increase Tax Exemption for Retrench Workers, - Now this is nice.

New Saving Bonds - Nice for those with money to invest,

Food Subsidy for Basic Food StuffsNice But then hey isn’t that already subsidize? Is it further subsidy?

Toll not to be raised - Nice, for frequent travellers especially those who stay in KL

Day Care Center for Elderly, Children, Center for WomansNice – where are they?

Increase in Scholarships GivenGood

GLC to set up 10 non profit private SchoolIn Theory Very Nice, if open to all, what I am afraid is that it may be self cantered in syllabus or course offered.

Where can it benefit me? - food Subsidy only, Was hoping for a Tax relief. I do hope that the Minibudget was helpfull to those in dire straits. For me personally there is a minimal inpact, no extra saving or cash that I can either save or spend. I do hope the food prices will drop soon.

In addition to this there is the Proton / Produa scheme of scraping cars above 10 years old, for RM5000 buy back per car to purchase a new car, which is nice as it set a minimal value for a use car. I do hope my 10 year old Proton Wira Aeroback is worth more the RM5000, In fact the Insurance company insist that my car is worth RM18,000.

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