A Personal Finance Blog for Malaysian: Budget 2017 ~ Are you benefiting??

Sunday, October 23, 2016

Budget 2017 ~ Are you benefiting??

Nothing (much).

For most people, I think it is really nothing much.

For SME, 18% tax rate is better than 19%.

For non-SME, 24% still 24% but "incremental chargeable income" may be tax lesser BUT how many non-SME really benefit from it?

This year, more non-SME looking at lower profit. Next year, could be worst.

Individual, we have a NEW 'lifestyle' relief, better than nothing. The maximum benefit is 28% x RM2,500 = RM700 for those having income above RM1 million. RM700 is really nothing (much) for them.

Well, this budget is a disaster in making because
~ Malaysia spent too much on non-productive items
~ Have less productive workforce
~ People have less purchasing power
~ Revenue can not increase because of weaker economy, domestic and globally.