2008 Budget Highlights

I don't know about you..BUT..I really don't see anything beneficial to me here *sulking again*

Source NST Online

• Some 100,000 tax payers to be out of the tax net as rebate for taxable income of RM35,000 and below will be increased to RM400 from RM350 - BIG DEAL..

• Tax exemption for all interest income for individuals - DON'T SEE THE SIGNIFICANCE
  
• Reduction of import duties for consumer durables (examples: blender, rice cooker, microwave oven and electric kettle- HUH!!!!) to between 5 percent and 30 percent from 10 percent and 60 percent
  
• Import duty exemption on several food items including vermicelli, biscuits, fruit juices and canned sweet corn - DOUBLE HUH!!!!
  
• Road tax for passenger vehicles with diesel engines to be similar with petrol engines effective Sept 1, 2008 - DIESEL ONLY??
  
• Tax exemption for employees on staff benefits such as subsidised interest on housing, motor vehicles and education loans - MUST CHECK ON THIS
  
• Bills of mobile and fixed line phones as well as internet paid by employers to be tax-exempted - HOW TO MAKE SURE MY BOSS ADHERES??
  
• Government to provide RM3 billion soft loan facility under public transportation to finance acquisition of buses and rail assets to be administered by bank pembangunan malaysia bhd - WAIT N SEE LAR

• 50 percent reduction in toll charges for all buses, except at border entry points, for two years effective Sept 15, 2008 - NOTHING TO DO WITH ME
  
• Efficiency of public transportation to be improved via rm35 billion expenditure from 2009 to 2014 - DITTO
  
• Farmers to benefit from proposal to abolish import duty on fertilizers and pesticides - CHEAPER FRUITS/ VEGE??
  
• Home ownership among civil servants to be boosted by extension of housing loans tenure to 30 years from 25 years - NOTHNG TO DO WITH ME
  
• Government housing loan insurance panel to be expanded to all eligible insurance companies from only five insurance companies now - DITTO
  
• Excise duties on cigarattes up three sen to 18 sen per stick. Duty for 20-stick pack now up 60 sen - 3 CENTS??? HE MUST BE JOKING..
  
• Highest marginal tax rate for individuals to be cut to 27 percent from 28 percent effective year of assessment 2009 - DON'T UNDERSTAND FULLY..BUT 1 % POINT?? GOT DIFF MEH?
  
• Middle income group to benefit from cut in marginal tax rate to 12 percent from 13 percent - AGAIN..1%??
  
• Accelerated capital allowance for purchase of ICT equipment can be claimed over one year instead of two years (86) - APPLICABLE TO ME ?
  
• Import prohibition on cranes used at ports to be removed. Import duty for the cranes cut to 5 percent from 20 percent (88) - NOT RELEVANT TO ME
  
• New investments by operators of four-star & five-star hotels in sabah and Sarawak to enjoy pioneer status with 100 percent income tax exemption or investment tax allowance of 100 percent for five years. - DITTO
  
• Venture capital companies to enjoy five-year tax exemption for investing at least 30 percent of their funds in start-up, early stage financing or seed capital - DITTO
  
• Local shipping industry to be promoted via a new rm2 billion fund to finance the purchase of ships and upgrading of shipyards. - DITTO
  
• Plants and machinery acquired by SMEs in the years of assessment 2009 and 2010 to be accorded accelarated capital allowance to be claimed within one year. - DITTO