A Personal Finance Blog for Malaysian: Budget 2011 - The Good News and Bad News

Friday, October 15, 2010

Budget 2011 - The Good News and Bad News

Budget 2011 announced on 15.10.2010.
What are the good and bad for Personal Finance?

Good News
  1. For first time home owner
    1. 50% exemption on stamp duty on sale & purchase agreement (effective 1.11.2011 to 31.12.2012)
    2. 50% exemption on stamp duty on loan agreement. (effective 1.11.2011 to 31.12.2012)
  2. For tax payer incurred expenses to take care old age parent
    1. Now extended to other expenses instead of medical bill only. However, still limited to RM5,000 only.
  3. Highway road users
    1. No more surprise for next 5 years.
  4. Disable person. 100% exemption on tax for National Car. [Caring government]

Bad News
  1. No reduction in individual tax rate
  2. No additional tax relief for individual
  3. New Service tax for Astro subscription (and any other PAID TV)

Except being a highway user, I don't see how i benefit from Budget 2011 but I have one more reason not to subscribe to Astro.

    1 comment:

    1. Yes, the service tax is the biggest concern here. It also applies to restaurant and hospital bills too. :(