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Will GST Exemption Lower the Property Prices?

The expectation is quite high that an increase in the Real Property Gains Tax (RPGT) and an abolition of the developer interest bearing scheme (DIBS) will dampen the property market. But, there has been little attention on our government’s move to exempt residential properties from the Goods and Services Tax (GST), which is going to replace the current Sales and Service Tax (SST) effective from April 2015.

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Do you think the prices will drop or remain unchanged? To me, it is very unlikely. Why? First, there is a need to understand GST and the supplies that come under it. As for exempt supplies, the category in which the residential properties have been placed are not subject to GST. So, businesses providing exempt supplies cannot charge GST on the final product to their consumers. However, those developers who are not eligible to claim input tax from the government on GST paid will then be saddled with additional costs due to the 6% of GST which is payable on almost all its inputs such as construction cost, services, building materials, etc cannot be claimed from the government. Being business entities, they will most probably pass on the non-claimable tax to the consumer end.

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November 27th, 2013 | Leave a Comment | 7,052 views

GST to be Implemented in Budget 2014

Malaysia may introduce the goods and services tax (GST) when Budget 2014 is tabled on Oct 25. This is prompted by worries of a ratings downgrade should Malaysia’s fiscal deficit remain unresolved.

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According to Fitch Ratings, one of the Top three global ratings agencies, the public finances remained as the country’s main weakness, namely the high federal government debt that stood at 53.3% of GDP at end of 2012 compared to 51.6% at end 2011. At the same time, the country’s low fiscal revenue base stands at 24.7% of GDP compared with the median of other A rated countries at 32.8%.

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October 16th, 2013 | Leave a Comment | 3,491 views

Cash RM500 For Households Earning Below RM3,000

A household with a monthly income below RM3,000 will be eligible for the RM500 cash assistance. This proposal is to help those low income earners or families for reducing the cost of living.

Who are eligible for the cash assistance?

The entitled household includes:

i. Married including married children and staying with parents

ii. Single parents with commitment

iii. Individual who is single and has commitment

iv. Old folks who are staying alone

BR1M

Even if your married son/daughter stay with you and have their own income, you can still claim as long as your income is below RM3000.

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December 12th, 2011 | 4 Comments | 6,204 views

KLCI 30 Component Stocks

KLCI

Here the latest list of 30 component stocks in FTSE Bursa Malaysia. It’s very much influence to our KLCI index. And, you will have a better market view if you know these companies’ stock performance very well.

RHB Capital
British American Tobacco (Malaysia)
Axiata Group Bhd
Maxis Bhd
Malaysia Marine and Heavy Engineering Holdings Bhd
PETRONAS Chemicals Group Bhd
Genting
Kuala Lumpur Kepong
Malayan Banking
MMC
PPB Group
Sime Darby Bhd
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November 7th, 2011 | Leave a Comment | 4,195 views

Great Eastern Buddy Up and Get Rewarded with Prizes Worth More Than RM55,000

Most of the time, I love traveling with my buddies, as it will be cheaper when we are in a group. In the other words, my buddies and I can split the costs of food and transportation! Besides that, we can also negotiate for better rates on hotel & tours if traveling in a larger group. Travel with buddies and watch your savings add up!

It’s possible that when I travel overseas, I might get sick. That’s when traveling with my buddies will really come in handy. They will help get medication and even find me a nice place to rest. The added bonus is they can provide me moral support and I won’t be so lonely in some strange place.

One of the favorite things when traveling with friends is we can take turns to watch over our belongings for each other when we are at a public place. So, it is undeniably awesome.

My friends and I stayed at Cameron Highlands for one night last month and we went on an unforgettable tour of various fruit farms (Strawberry Farm, Cactus Farm, and etc). Besides that, it is a place that has very warm and welcoming weather. Honestly, we love Cameron Highlands for its serenity, cool environment and of course we had steamboat for dinner as well. It was a very perfect and fun trip, no questions about that, all of us enjoyed ourselves.

How I hope we can have more trips like these!

Well, actually, now we can.

BuddyUp

In conjunction with its 103 years anniversary celebration, Great Eastern wants to make life great for you and your buddies. Now, you can walk away with fantastic getaway adventures. The best thing is, you can bring your buddies together! What you need to do is just Buddy Up with as many friends as possible to walk away with holidays and cash prizes worth more than RM55,000.

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September 27th, 2011 | Leave a Comment | 4,172 views