Guan Eng starts with an introduction about the state of the country's finances, which unsurprisingly talks about the debts accumulated via 1MDB. 
The government will be introducing the Fiscal Responsibility Act to ensure that government spending is limited while strengthening responsibility to ensure purposeful spending of budget resources.
The Double Tracking project will undergo the process of tendering again.
A number of projects have either been cancelled, deferred, or renegotiated as a cost-savings measure. Projects such as ECRL, MRT 2, LRT 3, HSR, and Trans-Sabah Gas Pipeline.
The government will undertake measures to ensure the reduction of liability from 80.3% to 72.1%
The Government is committed to reducing the country's deficit to 3.4% of the country's GFP in 2019, 3% in 2020, and 2.8% in 2021. #Budget2019
5271 items has been excluded from tax under the implementation of SST.
The government will introduce a credit system for sales tax deduction starting from 1 January 2019. The credit system will also avoid double taxation and reduce operating costs. #Belanjawan2019 #Budget2019
Government to establish Debt Management Office ( Pejabat Pengurusan Kredit) to review and check Government debts and liability. #Belanjawan2019 #Budget2019
A new digital tax will be implemented from 1 January 2020, which will be imposed on online services such as Spotify, Netflix, Steam, and others. #Belanjawan2019 #Budget2019
For those who are planning to make a visit to Genting's casino soon, looks like next year is a good time to start with new habits as the Gambling Tax is going to heftier come 2019. #Budget2019
#Belanjawan2019
#Belanjawan2019
Those with household income RM2,000 and below will receive financial aid amounting to RM1000 #Budget2019 #Belanjawan2019
Those with household income RM3,000 and below will receive financial aid amounting to RM750 #Budget2019 #Belanjawan2019
Those with household income RM4,000 and below will receive financial aid amounting to RM500 #Budget2019 #Belanjawan2019
Further tax deductions for companies and organisations who hires ex-convicts for their workforce. #Budget2019 #Belanjawan2019
Perkeso will pay compensation for those who have lost their job and help them to find employment elsewhere come 1 Jan 2019 under the Work Insurance System #Belanjawan2019 #Budget2019
'Cheaper than a pack of cigarettes'
The government plans to exclude stamp duty on all products under the Tenang coverage for 2 years starting from 1 January 2019 #Belanjawan2019 #Budget2019
The government plans to exclude stamp duty on all products under the Tenang coverage for 2 years starting from 1 January 2019 #Belanjawan2019 #Budget2019
The combined tax relief for EPF contributions and life insurance or takaful deductions of RM6,000 will be separated into RM4,000 for EPF contributions and RM3,000 for takaful or life insurance premiums. #Belanjawan2019 #Budget2019
Every car and motorcycle owner to enjoy up to 100 litres and 40 litres of RON95 petrol per month with a subsidy of at least RM0.30 sen per litre, depending on market price of petrol. #Belanjawan2019 #Budget2019
Targeted fuel subsidies will begin from the second quarter of 2019, and be applicable to car owners with engine capacity of 1,300cc or less, and motorcycle owners of 125cc or less. These are identified as part of the Bottom 40 (B40) households.#Belanjawan2019 #Budget2019
The government will impose an excise duty on "sugar sweetened beverages" to combat obesity.Proposed duty is RM0.40 per litre for non-alcoholic beverages containing added sugars of more than 5g per 100ml drink &for fruit juices containing added sugars of more than 12g per 100ml
No more toll fares for motorcyclists who use the Main Penang bridge. Second Penang bridge and Malaysia-Singapore Second Link #Belanjawan2019 #Budget2019
The government will introduce a new home loan for the low income group via the Program Perumahan Rakyat. Those earning not more than RM2,300 per month can own a home priced up to RM150,000 through a RM1 billion fund by Bank Negara. #Belanjawan2019 #Budget2019
RM10 million will be allocated to MDEC to further develop the interest of the younger generation in E-Sports #Belanjawan2019 #Budget2019
For those who plan to be a pro DOTA or LOL player, you know what to do ;)
For those who plan to be a pro DOTA or LOL player, you know what to do ;)
If you take the LRT/MRT/RapidKL bus to work, this news is for you. A RM100 unlimited public transportation pass will be introduced for RapidKL rail and bus networks. There'll be a RM50 pass as well, limited only to buses. #Belanjawan2019
Good news! The government is investing RM1 billion to develop the country's broadband infrastructure under the National Fiber Connectivity Plan. Faster internet speed at affordable prices? We'll be watching this closely. #Belanjawan2019 #Budget2019
New policies in place for repayment of PTPTN loans.
Borrowers who are earning a minimum of RM1,000 will be subjected to a repayment schedule, at a rate of between 2-15% of their monthly income. #Belanjawan2019 #Budget2019
Borrowers who are earning a minimum of RM1,000 will be subjected to a repayment schedule, at a rate of between 2-15% of their monthly income. #Belanjawan2019 #Budget2019
Planning to invest in digital currencies? Depending on which end of the spectrum you are, guidelines will be introduced to monitor the exchange of token and digital coins. So yes, that includes bitcoin and other forms of cryptocurrency. #Belanjawan2019 #Budget2019
RM20 million will be allocated by the government to launch a "Buy Malaysian First" campaign to support the sales of local products and services. #Belanjawan2019 #Budget2019
Khazanah Nasional will be leading the restoration for the Sultan Abdul Samad building and repurpose it as a cultural hub. In case you are wondering why it sounds so familiar, think Dataran Merdeka... #Belanjawan2019 #Budget2019
RM926 million will be allocated to improve road and bridge condition in rural areas, especially those that are used as access roads. #Belanjawan2019 #Budget2019
RM694 million and RM738 million will be allocated to enhance the supply of water and electricity in rural areas. #Belanjawan2019 #Budget2019
RM10 million will be allocated to build 50 childcare centres in government offices. #Belanjawan2019 #Budget2019
This is to ensure that women are not pressured to leave the workforce in the situation that they need to care for their children.
This is to ensure that women are not pressured to leave the workforce in the situation that they need to care for their children.
The government is committed to increase the participation of women in the workforce especially in company leadership roles by 30% #Belanjawan2019 #Budget2019
A lot of roaring happening at the moment. Also, a bit of update on Jho Low but since it's not related to personal finance, we'll just put this photo here to show our support #Belanjawan2019 #Budget2019
Thanks for sticking with us till the very end! Also, we will be working on an article related to everything that you need to know about #Budget2019 so keep a close eye on our blog for that #Belanjawan2019
We've promised! Have a #Budget2019 write-up from us, sincerely yours by the RinggitPlus team! #Belanjawan2019 - bit.ly/Budget2019Mala…
