Monday, September 24, 2007
Saturday, September 8, 2007
2008 Malaysia budget - personal relief
- Single-tier tax system, effective from the year of assessment 2008. Under a single-tier tax system, profits are only taxed at the company’s level and dividends received are exempted from tax.
- To further stimulate the property sector in particular housing, the Government proposes that a 50% stamp duty exemption on documents of transfer be given for the purchase of one house of not more than RM250,000 per unit.
- Beginning the 2008 school session, the Text Book Loan Scheme will be provided to all students, irrespective of their families’ income and with no restrictions on the number of eligible children. With this, 5.7 million students will benefit from this Scheme compared with 4.5 million students currently. With these measures, schooling in Malaysia is now completely free.
- The active participation of students in co-curriculum activities, such as uniformed bodies, associations and clubs as well as sports, is important for character building and developing leadership qualities among students. To ensure every student has the opportunity to participate in uniformed activities, the Government will provide a free uniform for one activity for school students from families with a monthly income of RM1,000 and below.
- The Government also proposes that last mile network facilities providers be given Investment Allowance of 100% on capital expenditure incurred for broadband up to 31 December 2010; import duty and sales tax exemptions be given on broadband equipment and consumer access devices; and tax deduction be given to employers on benefits in kind in the form of new computers and payment of broadband subscription fees for employees. Such benefits in kind received by the employees will also be tax exempt.
- To ease the burden of home loan repayment, the Government will allow EPF contributors to make monthly withdrawals from the balance in Account 2. The scheme will be effective 1 January 2008 and is for the financing of one house. This is a major move, which will benefit 5 million active EPF contributors. This scheme will enable contributors to own better houses than they could otherwise afford as well as lessen their monthly financial obligations. This scheme will make available up to RM9.6 billion annually for the purchase of houses.
- In addition, to promote healthy lifestyle among Malaysians, the Government proposes that individual tax relief of up to RM300 a year be given on the purchases of sports and exercise equipment.
Thursday, August 23, 2007
2007 Malaysia Personal income tax relief
Below are the highlight for 2007 Malaysia budget on personal income. Note that the major changes is personal computer relief.
- In recognition of the importance of the use of technology, individuals will be given tax relief of RM3,000 once every 3 years for the purchase of a personal computer. (Prior to this, a rebate of RM500 was given once in 5 years instead).
- The annual tax relief on the purchase of books, journals, magazines, etc, has been increased from RM700 to RM1,000.
- The tax exemption on the provision of 3 leave passages within Malaysia has been extended to cover the provision of food and accommodation. Previously, an individual was only exempt from being taxed on the benefit of the air-fare or travel cost.
- An income tax exemption of upto RM1,000 will be given in relation to long service awards for employees who have worked with the same employer for more than 10 years.
- Employees will be exempted from tax (i.e. to the extent of RM 6,000 for a completed year of service) in respect of payments received pursuant to a voluntary separation scheme (i.e. a scheme whereby the employee is given an option toterminate the employment contract), subject to certain conditions.
- The scope of tax relief of RM5,000 for further education has been extended to include Islamic financing courses in line with the Government’s focus in this area.
- The tax exemption for seafarers has been extended to include the income of an individual working on a foreign ship operated by a resident shipping company.
Tuesday, August 21, 2007
Friday, August 10, 2007
Sally Yeh in Penang
Sunday, July 15, 2007
Rainy day, special visit to Marvell Semiconductor Penang
Tuesday, July 3, 2007
Penang upcoming event - till December 2007
Events between these dates: 01/08/2007 - 31/12/2007
Mega Shopping Carnival 2007
01/08/2007 - 30/09/2007
Launching of Mega Shopping Carnival 2007
04/08/2007 - 04/08/2007
Penang Biathlon 2007
05/08/2007 - 05/08/2007
Penang World of Percussion
10/08/2007 - 12/08/2007
Merdeka Eve Classical Film Festival 2007
24/08/2007 - 31/08/2007
50th Merdeka Eve Celebration
30/08/2007 - 30/08/2007
50th National Day
31/08/2007 - 31/08/2007
Penang International Mountain Bike Challenge 2007
01/09/2007 - 02/09/2007
Moto GP Roadshow
01/09/2007 - 30/09/2007
Pasar and Bazaar Ramadhan 2007
13/09/2007 - 12/10/2007
Penang International Lantern Festival
15/09/2007 - 14/10/2007
Penang Mid Autumn 2007
25/09/2007 - 25/10/2007
Hari Raya Open House 2007
27/10/2007 - 27/10/2007
Raja Muda Regatta 2007
16/11/2007 - 24/11/2007
International Meatless Day Carnival 2007
18/11/2007 - 18/11/2007
Deepavali Open House 2007
19/11/2007 - 19/11/2007
14th Penang International Dance Sport Championship 2007
24/11/2007 - 24/11/2007
Penang Island Jazz Festival 2007
01/12/2007 - 02/12/2007
Kayuh Lasak Penang Mountain Bike Jamboree2007
01/12/2007 - 02/12/2007
Pesta Pulau Pinang 2007
01/12/2007 - 31/12/2007
International Conferenc e on Ergonomics 2007
03/12/2007 - 05/12/2007
Starwalk Carnival 2007
07/12/2007 - 09/12/2007
Penang Paintball World Cup *
14/12/2007 - 16/12/2007
Chingay Competition 2007
23/12/2007 - 23/12/2007
Penang Line Dancing Carnival 2007
25/12/2007 - 25/12/2007
Chingay Parade
25/12/2007 - 25/12/2007
“Welcome 2008 Concert”
31/12/2007 - 31/12/2007
Penang Haze - annual event
Tuesday, June 19, 2007
WARNING ON STRONG WINDS AND ROUGH SEAS OVER THE NORTHERN STRAITS OF MALACCA AND SAMUI SEA
FIRST CATEGORY WARNING
WARNING ON STRONG WINDS AND ROUGH SEAS
OVER THE NORTHERN STRAITS OF MALACCA AND SAMUI SEA
WARNING UPDATE
Section A (Thunderstorm Warning)
Updated on 18 Jun 2007, 3.00 pm
Thunderstorms activities with strong winds occurring over the South China Sea is expected to continue until Thursday, 21 June 2007.
This condition is expected to cause rough seas up to 2.5 meters and dangerous to small boats.
Section B (Strong Winds and Rough Seas Warning-First Category)
Updated on 17 Jun 2007, 12.30 pm
The strong northwesterly winds of 40-50 kmph over the northern Straits of Malacca and Samui Sea with maximum wave heights of 3.0 meters are expected to continue until Thursday (21 June 2007).
This condition of strong winds and rough seas is dangerous to small boats.
Updated on 19 Jun 2007, 7.50 pm
Oleh: Jabatan Meteorologi Malaysia
(Bhg. Kajicuaca Lautan dan Oseanografi) Kementerian Sains, Teknologi dan Inovasi
Unusual strong wind in Penang island
Unusual strong wind attack Penang island around 1.30pm yesterday, lasting for about 3 hours. The wind peaked at 43 knots per hour. Fallen tree and branches can be observed everywhere in Bayan Baru and Bayan Lepas area. More pic at : thestar.com.my
Location : Esplanade