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 Loan – Will 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 Stuffs – Nice 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 Womans – Nice – where are they?
Increase in Scholarships Given – Good
GLC to set up 10 non profit private School – In 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.