OCTOBER 12 ― The highly anticipated Shared Prosperity Budget, which has been tabled by Finance Minister Lim Guan Eng was the second budget since Pakatan Harapan came to power in May 2018, clearly did not disappoint.
The new government is also proud to inform that they managed to maintain inflation at the rate of 0.2 per cent in the first quarter of 2019 in comparison to 1 per cent in year 2018 and 3.7 per cent in the year 2017.concern on the implementation of SST but after thorough review, the GST has proven to have resulted in higher pricing in comparison to the pricing after SST implementation.
High income earners will be subjected to pay tax at a rate of 30 per cent for individuals who earn income above RM2 million. On the other hand, young parents are also eligible for increase in tax relief to RM2,000 per child from RM1,000 for sending their kids to approved kindergartens. Good news for property owners ― RPGT base year will be revised to January 2013. This will give some form of relief to those which sells their property.