Malaysian Budget 2010
Some points I pick out in the budget. My comments in parenthesis.
http://thestar.com.my/news/story.asp?file=/2009/10/23/budget2010/20091023161104&sec=budget2010
- Conversion of PTPTN loans to scholarships for students who graduate with 1st class honours degree, beginning from 2010
- Govt to clamp down on the abuses committed by Ah Longs by enforcing Anti-Money Laundering and Anti Terrorism Financing Act 2001. Moneylenders Act 1951 to be also reviewed. (Hahaha, I hope they didn't use the term 'Ah long' in the budget)
- Among steps to combat corruption is to set up 14 Special Corruption Sessions Courts and 4 Special Corruption Appeal High Courts (Don't forget you need the right judges not those lingam-ed!!!)
- Tax of 5% to be imposed on gains from the disposal of real property from Jan 1, 2010. Existing tax exemption will be retained for gifts between parent-child, husband-wife, grandparent-grandchild. (Aha! Capital gains taxation comes to malaysia!)
- To promote prudent spending, a service charge of RM50 a year to be imposed on each principal credit card and charge card; and RM25 a year on each supplementary card, effective from Jan 1, 2010. (WTF????)
- To ensure that fuel subsidies only benefit targeted groups, Govt will implement a fuel subsidy management system in early 2010, which will utilise the MyKad. (Sounds very suspicious. I hope they don't discount the fuel by 7%...)
- All ministries and govt departments are required to provide day care and education centres for children of civil servants. (Great way to improve propaga.. oops, I mean information delivery)


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