Author Topic: Budget 2007 Perks  (Read 3399 times)

Offline Calvin Wong

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Budget 2007 Perks
« on: September 04, 2006, 10:35:06 AM »
Let's use this forum to share how we can take advantage of the new budget. :)

One thing that was 'falsely advertised' to me was the tax relief for buying personal computers. It seems tax relief and tax rebate are not the same thing. :( Formerly it was a tax rebate of RM500 off your total tax bill but now you can only subtract RM3000 before taxes. This will only benefit those with a taxable income of RM53,000 and above.

Considering that only the upper-middle class (those earning above RM53,000 per year) will benefit, will this increase or decrease PC sales, or will it have no effect?

Offline Maxforce

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Re: Budget 2007 Perks
« Reply #1 on: September 04, 2006, 09:20:29 PM »
haha... misleading heh?
Well, it will have an effect but like you ve said, its all about those who earns higher income.
Imagine after calculation, you have more than RM35,000 taxable income. ANd with the PC, you can reduce to less than RM35,000 income.
Effectively you qualify for the RM350 rebate and also enjoy a lower tax range.
But in tax, its all about ranges. So if you re not in the range that benefits, tough.
Net impact? GOvt gets more revenue as it will not give RM500 rebate to all. Now it only needs to give RM5,000 relief to certain quarters. Smart heh?
Five points a day, keeps you out of harm's way.

Offline Calvin Wong

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Re: Budget 2007 Perks
« Reply #2 on: September 06, 2006, 02:20:00 PM »
GOvt gets more revenue as it will not give RM500 rebate to all. Now it only needs to give RM5,000 relief to certain quarters. Smart heh?

I have enough faith in our government to believe that they had good intentions when they decided on this tax relief structure. I'll give them the benefit of doubt and assume that they messed up.

Just like our speeding fines. Now that's another perk! :D

Offline Maxforce

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Re: Budget 2007 Perks
« Reply #3 on: September 06, 2006, 08:11:21 PM »
Haha... faith may be misplaced my friend.
Action always speaks louder than words.
And this action really speaks
Five points a day, keeps you out of harm's way.

Offline jeybon

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Re: Budget 2007 Perks
« Reply #4 on: September 10, 2006, 08:32:40 PM »
The reduction of the corporate tax sounds promising on the sales & marketing of MNCs.  1% meant quite much for an MNC it would sounds like 1million for a 100million revenue.  This 1 million will translate to better perks for employees like incentive trips or even more incentives.  However, I doesn't see the SMI benefit much from the reduction. :-[
Regards,
Jeybon

Offline DenLee

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Re: Budget 2007 Perks
« Reply #5 on: September 17, 2006, 07:22:53 AM »
The government tried to help SMI by setting up SME bank.  However, there seemed to be lots of red tape going on in the application process.  Worse if you are a non-bumi.
Regards,
Denlee

Offline Maxforce

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Re: Budget 2007 Perks
« Reply #6 on: September 17, 2006, 10:46:06 AM »
Exactly my sentiment
Five points a day, keeps you out of harm's way.

Offline julez.lim

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Re: Budget 2007 Perks
« Reply #7 on: September 19, 2006, 11:22:40 AM »
There are a lot of organizations, groups and bodies that are assisting SMI like SMIDEC and etc depending on the field one is in. MATRADE, if you wanna promot your business overseas...

I think you are refering to Micro businesses right? (Those lesser than 100 employees)