Berita Terkini (Malaysia): Budget 2013

Budget 2013 Highlight Budget 2013 News

Economic growth projected to expand 4.5 per cent to 5.5 per cent.

Pertumbuhan ekonomi diunjur berkembang kukuh pada kadar 4.5 peratus hingga 5.5 peratus.

Nominal GDP expected to surpass RM1 trillion.

KDNK nominal dijangka melepasi paras RM1.0 trilion.

RM251.6 billion allocated for development programmes and projects, with the focus on people's well-being.

Peruntukan RM251.6 bilion bagi program dan projek pembangunan, dengan fokus terhadap kesejahteraan rakyat.

Federal Government's revenue in 2013 is estimated to increase to RM208.6 billion.

Kutipan hasil Kerajaan Persekutuan 2013 dianggarkan meningkat kepada RM208.6 bilion.

Pivate sector investment is to increase to RM148.4 billion.

Pelaburan swasta dijangka meningkat kepada RM148.4 bilion.

RM3 billion to implement Entry Point Projects.

RM3.0 bilion diperuntukkan bagi pelaksanaan projek permulaan (EPP) bagi tahun 2013.

RM1 billion for Domestic Investment Strategic Fund under Malaysian Investment Development Authority to leverage on outsourcing opportunities and intensify technology acquisition by Malaysia-owned companies.

Penyediaan Dana Strategik Pelaburan Domestik berjumlah RM1.0 bilion di bawah Lembaga Pembangunan Pelaburan Malaysia untuk aktiviti penyumberan luar dan pemerolehan teknologi oleh syarikat tempatan.

RM1 billion SME Development Fund under SME Bank.

Penyediaan dana sebanyak RM1.0 bilion di bawah Skim Pembangunan PKS bawah kendalian SME Bank.

SME Bank and Islamic Development Bank (IDB) to provide RM200 million to Halal Industry Fund to finance working capital of participating SMEs.

SME Bank dengan kerjasama Bank Pembangunan Islam akan menyediakan Dana Industri Halal sebanyak RM200 juta untuk membiayai modal kerja PKS terlibat.

RM16 million a year group insurance scheme for registered hawkers and small businesses for coverage of up to RM5,000.

Skim perlindungan insurans berkelompok kepada penjaja dan peniaga kecil berdaftar dengan had maksimum RM5,000 dengan peruntukan RM16 juta setahun.

Perbadanan Nasional Bhd to provide soft loans of up to RM25,000 for licensees and RM500,000 for licensors under Business In Transformation programme.

Perbadanan Nasional Bhd menyedia kemudahan pinjaman hingga RM25,000 bagi pemegang lesen dan RM500,000 bagi penyedia lesen menerusi program Transformasi Perniagaan.

Investment Tax Allowance of 100 per cent for a period of 10 years for qualified companies involved in refinery activities on petroleum products.

Elaun Cukai Pelaburan 100 peratus untuk 10 tahun bagi aktiviti penapisan produk petroleum kepada yang layak.

Global Incentive for Trading (GIFT) programme is enhanced with 100 per cent income tax exemption on statutory income for first three years of operation.

Program Insentif Global bagi Perdagangan (GIFT) ditambah baik dengan pengecualian cukai pendapatan 100 peratus ke atas pendapatan berkanun bagi tempoh tiga tahun pertama operasi.

Expenses for issuance of AgroSukuk given double deduction for a period of four years from year of assessment 2012 to 2015.

Perbelanjaan menerbitkan AgroSukuk diberi potongan cukai dua kali bagi tempoh empat tahun mulai tahun taksiran 2012 hingga 2015.

DanaInfra Nasional Bhd to issue retail bonds worth RM300 million by end-2012 to finance MERT development projects.

Additional expenses incurred in issuance of retail bonds and retail sukuk to be given double deduction for a period of four years from year of assessment 2012 to 2015.

Individual investors given stamp duty exemption on instruments relating to transactions of retail bonds and retail sukuk.

Securities Commission to introduce Graduate Representative Programme in collaboration with private sector to train 1,000 graduates to meet needs of securities and derivatives industry.

Danajamin Nasional Bhd to get additional RM400 million for next two years, to multiply issuance value between RM4 billion and RM6 billion.

RM100 million to be provided to Capital Market Foundation through Capital Market Development Fund under the Securities Commission.

RM500 million allocated for the River of Life project for the beautification of the Klang River, RM300 million is provided for replacement of water pipelines and sewage to improve water supply and sewage system.

The Government allocated RM358 million to intensify tourism industry in conjunction with Visit Malaysia Year 2013/2014.

Income tax exemption be extended for three years for tour operators who bring in at least 750 foreign tourists or handle 1,500 local tourists a year.

The Government continues to give priority to the agriculture sector to enhance the national income and ensure food security. For this, a sum of RM5.8 bilion is allocated to the Ministry of Agriculture and Agro-Based Industry.

RM30 million allocated for agricultural development programmes, including high-technology applications in fruit and vegetable production, increase the supply of high-quality seedlings, price stabilisation through direct selling from farms, establishment of fish markets for the rakyat as well as improving agricultural training institutions.

Income tax exemption for 10 years for Tun Razak Exchange-status companies, stamp duty exemption, industrial building allowance and accelerated capital allowance for TRX Marquee-stataus companies, and tax exemption for property developers.

Pengecualian cukai pendapatan bagi tempoh 10 tahun kepada syarikat berstatus Tun Razak Exchange, pengecualian duti setem berstatus TRX Marquee dan pengecualian cukai bagi pemaju hartanah.

Malaysian Wakaf Foundation, under Department of Awqaf, Zakat and Hajj, to formulate Corporate Wakaf master plan, taking into consideration State Islamic Religious Council legislative structure.

Yayasan Wakaf Malaysia, di bawah Jabatan Wakaf Zakat dan Haji diberi tanggungjawab untuk merangka pelan induk Wakaf Korporat dengan mengambil kira struktur perundangan Agama Islam Negeri.

RM9 billion or 43 per cent of total infrastructure cost of MRT project allocated to Bumiputera companies.

RM9.0 bilion atau 43 peratus daripada nilai kos infrastruktur projek MRT diperuntukkan kepada syarikat Bumiputera.

SME Bank to provide RM1 billion to Bumiputera Financing Fund to assist local SMEs to finance acquisition of subsidiaries of Government-Linked Companies engaged in non-core activities.

Working Capital Guarantee Scheme for SMEs to be extended until December 2013 and to High-Performing Bumiiputera (TERAS) companies, and companies' shareholders fund eligibility is raised to RM20 million.

Allocation of RM75 million to increase the output of food and health products.

For the plantation sector, RM432 million is allocated under the NKEA for oil palm replanting programmes.

RM127 million is allocated for the development of high-value oleo derivatives to transform the downstream industry towards higher production of derivatives.

Four new paddy granaries will be developed and expanded in Kota Belud, Batang Lupar, Rompin and Pekan. With an expanditure of RM140 million, the four new paddy granaries with acreage of 19,000 hectares and involving 12,237 farmers are expected to produce 104,000 tonnes.

RM230 million to be provided as incentive for fish landing as well as payment for living allowances for the fishermen. Currently, the Government provides a living allowance of RM200 per month, an incentive ranging from 10 to 20 sen per kilogramme and the introduction of Fishermen Insurance Scheme.

RM350 million allocation to Tabung Ekonomi Kumpulan Usaha Niaga (TEKUN) for small-scale entrepreneurs, including RM50 million to the Malaysian Indian community

RM200 million for Intellectual Property Financing Scheme to be established through Malaysia Debt Ventures Bhd, to enable SMEs to expand by using intellectual property rights as a collateral to obtain financing. The government will provide a two per cent interest rate subsidy and guarantee of 50 per cent through Credit Guarantee Corporation Malaysia Bhd

RM19 million allocation for training of local intellectual property rights evaluators conducted by Intellectual Property Corporation of Malaysia, as well as to create an intellectual property rights market platform

A company which invests in a subsididary company that undertakes commercialisation of R&D findings to get a tax deduction equivalent to the total investment made in that subsidiary, and

The subsidiary company that undertakes the commercialisation of R&D findings to get income tax exemption of 100 per cent on the statutory income for a period of 10 years

RM2.4 billion is allocated to provide subsidies and incentives to assist farmers in reducing cost of production. The assistance comprises subsidies and incentives for paddy production including subsidies on paddy rice (RM480 million), paddy fertilisers (RM465 million); incentives to increase paddy yield (RM80 million), paddy production (RM563 million) and subsidies on price of rice (RM528 million) and high-quality paddy seeds (RM85 million).

Introducing a Paddy Takaful Coverage Scheme to benefit 172,000 paddy farmers who own fields less than 10 hectares. The Government will initially allocate RM50 million for this scheme.

RM41 million to be provided for the Azam Tani project to benefit 6,730 of the poors to increase their income.

A sum of RM38.7 is allocated to the Ministry of Education for operating and development expenditure.

An additional allocation of RM500 million to enhance teaching skills in core subjects such Bahasa Malaysia, English, Science and Mathematics through the Higher Order Thinking Skills approach.

A tax deduction equivalent to the amount of investment made by an angel Ivestor in a venture company to be allowed to be set off against all his income.

The Green Technology Financing Scheme fund to be increased by RM2 billion, and the application period extended for another three years until Dec 31, 2015

The Government to ensure the Federal Government debt will not exceed 55 per cent of GDP and fiscal deficit continues to decline to three per cent by 2015.

Review of Malaysia's taxation system to continue, to ensure it better reflects the household's financial position and transition from income-based system to a more comprehensieve and fair taxation system benefits the rakyat

All procurement and purchases by government to be based on value-for-money principle

An additional of RM1 billion under the Special Fund for the Building Improvement and Maintenance of Schools to refurbish school buildings, maintenance, purchase of school equipments and construction of additional blocks.

RM1.2 billion will be allocated for pre-education to Jabatan Kemajuan Masyarakat, Ministry of Education, PERMATA and Department of National Unity and Integration. In addition, RM380 million is allocated to the Ministry of Education for placement of kindergarten teachers.

The Government proposed a launching grant of RM10,000 to assist operator of Early Childhood Care and Education (ECCE) private centres in opening new high quality pre-schools.

The Government will implement a pilot project of pre-school for disabled chidren (TASKA OKU) in six categories of down syndrome, autism, blind or partially sighted, hearing and speaking disabilities, physical disability and learning difficulties.

RM3.7 billion is allocated to train students in technical and vocational fields. the Government will establish Graduate Employability Taskforce with an allocation of RM200 million to strengthen the employability of graduates.

RM6 billion to be allocated under the Private Financing Initiatives (PFI2) to implement projects and programmes to ensure well-being of people and spur nation's development, including refurbishment and maintenance of schools and health clinics; housing, water tank and flood mitigation projects; and provision of sports facilities.

RM1.9 billion to be allocated to build 123,000 affordable housing units in strategic locations, to be implemented by PR1MA, Syarikat Perumahan Nasional Bhd and Jabatan Perumahan Negara

Real property gains tax (RPGT) from disposal of properties made within two years of date of purchase to be taxed at between 15 per cent and 10 per cent of disposal of property within a period of two to five years. For property disposed of after five years from the date of acquisition, RPGT is not applicable

RM100 million to be allocated to Housing and Local Government Ministry to revive 30 abandoned housing projects, and tax incentives to private sector to encourage its involvement in reviving the projects

RM50 million is allocated to train 3,200 Malaysian Indian students in the estates.

A total of 1.4 million of SOCSO members to undertake free health screening in government hospitals or SOCSO's panel clinics.

The minimum pension is to be increased from RM720 to RM820, with adjustment took effect from Jan 1, 2012.

The processing fee of a five-year passport to be reduced by 50 pecent from RM300 to RM150 for senior citizens and children aged 12 and below.

The entry requirement for the Malaysian Armed Forces officers has been raised to Bachelor's Degree with Honours while for servicemen, minimum entry is raised to SPM and diploma.

A one-off payment of RM1,000 to assist former members of the armed forces who have opted for early retirement, served less than 21 years.

Individual income tax rate to be reduced by one percentage point for each grouped annual income tax exceeding RM2,500 to RM50,000

Cooperative income tax rate to be reduced between one to seven percentage points on income tax groups

Felda to complete new generation housing projects amounting to 20,000 units, to revive traditional village houses in Felda areas, and to spend RM100 million a year for education and skills training of 5,000 new-generation children.

1Malaysia Development Bhd Trust to allocate RM300 million to provide education grants, financial assistance to build 'rumah arau' for pre-school students in Sarawak's interior, and repair 1Malaysia Mobile Clinics and houses for the poor and needy

Government-Linked Investment Companies and Government-Linked Companies to allocate RM500 million for corporate social responsibility programmes in community development, education, sports and environment.

Housing Loan Division of the Ministry of Finance will be rectructured and commercial banks to be appointed to manage new housing loans for government servants, effective January 2013, while the processing fee is fixed at RM100 for each application regardless of the loan amount.

Efforts to reduce crime rates to be enhanced, with an allocation of RM591 million, including to increase number of police personnel, establish a Motorcycle Patrolling Unit, increase the number of Police Volunteer Reserve and install additional CCTV cameras.

Resident associations to receive RM10,000 grant to promote patrolling activities in neighbourhoods, RM39 million is allocated to finance Kawasan Rukun Tetangga activities and RM90 million to provide uniforms to 300,000 active members of People's Volunteer Corp (RELA)

An additional allocation of RM20 million is provided to the National Legal Aid Foundation.

RM276 million is allocated to Malaysian Anti-Corruption Commission to combat corruption and increase an additional of 150 posts annully to reach a total of 5,000 personnel.

A National Strategic Coordination Unit to be established to ensure coordination between Rural Transformation Programme (RTP) and Urban Transformation Programme (UTP).

Six Urban Transformation Centre will be set up Alor Setar, Kuantan, Ipoh, Johor Baharu, Kota Kinabalu and Kuching, while five Rural Transformation Centre to be set up at Melaka, Johor, Pahang, Sabah and Sarawak.

RM4.5 billion is allocated to implement various rural infrastructure development and projects, including to develop 441 kilometres rural roads and village link road projects, to develop rural utility infrstructure, to finance Program Desa Lestari, to implement economic development for the Orang Asli community, and to supply water tanks for rainwater harvesting in the interiors of Sabah and Sarawak.

RM19.3 billion to be provided for health services. RM20 million is allocated to set an addition 70 1Malaysia clinics, which include cholesterol and glucose test as well as urine test.

RM50 million is allocated for the development of women, family and community. This includes training 500 women as board members under the Women Directors' Programme, to improved the Single Mother Skills Incubator Programme, to provide a grant of RM1,000 for the Get Malaysian Business Online Programme and free mammogram examination.

RM1.9 billion is allocated to build 123,000 affordable housing units in strategic locations, with initiative to be implemented by Syarikat Perumahan Negara Berhad, Perumahan Rakyat 1Malaysia (PR1MA) and Jabatan Perumahan Negara.

Under My First Home Scheme, the income limit for individual loans will be increased from RM3,000 to RM5,000 per month while joint loans of husband and wife of up to RM10,000 per month.

To give out second round of Bantuan Rakyat 1Malaysia (BR1M). The assistance will be extended to single unmarried individuals aged 21 and above and earning not more than RM2,000 a month, with an amount RM250.

Subsidy on sugar will be reduced by 20 sen per kilogramme, effective Sept 29, 2012 and an allocation of RM1.5 billion to stabilise the prices of cooking oil in the market.

RM386 million is allocated to open 57 Kedai Rakyat 1Malaysia and to bear the cost of delivering products from Peninsula to Sabah, Sarawak and Labuan.

50 percent discounts on ferry chargers to all passengers who commute daily by ferry from Labuan to Sabah and Sarawak and 50 percent discount on ferry charges for commercial vehicles that transport basic essential goods and construction materials to Labuan.

To facilitate hajj pilgrimage, EPF contributors will be allowed to withdraw their savings in Account 2 to meet hajj cost, with a maximum withdrawal of up to RM3,000.

Individual income tax rate will be reduced by 1 percentage point for each grouped annual income tax exceeding RM2,500 to RM50,000.

School bus operators will be given assistance of RM10,000 cash rebate and 2 percent interest rate subsidy on full loans for the purchase of new buses to replace buses that have exceed 25 years with new 12 to 18-seater buses.

A maximum insurance coverage of RM100,000 in the event of accidents, total and permanent disability and death for all school children who travel by school buses with permits.

RM2.6 billion is allocated to help students from low-income families, which include hostel meal assistance programme, Food Supplement Programme, purchase of text books and assistance for payments of additional school fees.

Schooling Assistance of RM100 to 5.4 million primary and secondary students, to commence January 2013.

The 1Malaysia Book Voucher programme will be increased from RM200 to RM250 to all higher learning institutions and pre-university students.

The current tax exemption for saving in the National Education Savings Scheme to be increased from RM3,000 to RM6,000.

20 percent discount will be given to those who make full PTPTN loan payment within a year effective from Oct 1, 2012 until Sept 30, 2013 while a 10 percent discount per annum will be given to those with consistent repayment.

100 1Malaysia Internet Centres will be established from 2013 to 2015 with an allocation of RM150 million.

Additional one month bonus for civil servants, which will be disbursed in two payments in December 2012 and January 2013. A payment of RM500 will also be given to government retirees.

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Friday, September 28, 2012

Budget 2013 - 28 September 2012

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