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BUDGET 2011

The budget in brief:

a)   Toll highways and PPP projects

  • The government plans to build six highways.
  • Toll rates on four highways owned by PLUS Expressway Berhad will not be increased for the next five years.
  • Greater KL MRT to be implemented from 2011.
  • A new 100-storey landmark, Warisan Merdeka, to be completed in 2020.

b)   Tax Incentives/hike

  • Import duties for around 300 preferred consumer items to be abolished.
  • Service tax to be imposed on paid television broadcasting services.
  • Service tax for restaurant, hospitals and car rentals to be increased from 5% to 6% .
  • Sales tax will be exempted on all types of mobile phones.

c)    Housing and Community

  • Stamp duty exemption of 50% for first time house buyers on a house priced less than RM350,000.00
  • RM350mil to be implement various programmes to combat crime.

d)   Family and women

  • RM70mil for programmes with selected NGOs to strengthen the family institution and address social ills.
  • 40 1Malaysia TASKA to assist women to obtain quality childcare and early education for their children.

e)   Civil service

  • Maternity Leave increased from 60 days, not to exceed 90 days for civil servants.
  • Housing loan for civil servants increased to a maximum of RM450,000 from RM360,000 currently.

f)     Education

  • RM576mil allocated for scholarships for those wishing to further their studies.
  • RM213mil allocated to enhance proficiency in Bahasa Malaysia and the English Language.

g)   Health

  • RM15.2bil to build new hospitals and increase the number of doctors, nurses and supplies of medicines and equipment.
  • Another 25 1Malaysia clinics will be established, bringing the total 76.

h)   Environment and green tech

  • RM1.9bil to finance environmental preservation projects.
  • To further encourage ownership of hybrid cars, import duty and exercise duty exemption will be extended until Dec 31, 2011.

i)     Welfare

  • RM100mil allocated to implement various orang asli programmes.
  • RM218mil to benefit 80,000 disabled individuals through various programmes.

 We would like to know what you think, please leave comments here. For Home Loan info please contact us.

By | 2016-11-01T10:40:19+00:00 October 16th, 2010|Latest Article/News|2 Comments

2 Comments

  1. meena October 16, 2010 at 3:10 pm

    it is a fastastic plan for 2011

    i love malaysia sorry 1 malaysia

    meena.

  2. Melissa December 12, 2010 at 5:19 am

    Hi,would like to know about the first homeownership programme where I can get 100% loan for income below RM3K. WOuld like to know how to entitle to it.

    Thanks
    Melissa

Comments are closed.