Post Budget 2014

6:34 AM

The only thing that I can remember from the PMs budget announcement was

"Kurangkan manis dalam minuman, tingkatkan manis dalam senyuman"

.....or something like that. I managed to listen some parts of it on my way back from work.

What was puzzling to me was why was the announcement on the reduction on sugar subsidy bundled together with the 'Health' budget (I think it is just an excuse to reduce the subsidy). Seriously, can an increase in the price of sugar result in a reduction in Diabetes Mellitus incidence? Diabetes Mellitus is so much more than just reduced sugar intake. They are taking kencing manis (sweet urine) quite literally. Well, I am sure they have done they're research on this. I am just a regular MO, I wouldn't know much anyways. If it does help in reducing DM cases, then I will be happy. I can go sit back and just focus on non-DM cases.



Anyhow, let's just move on. Subsidies will need to be reduced gradually, even on petrol.

I love the summary of the whole budget in imoney.my. I won't reproduce the infographic here, but just click on the link. As for GST, I am still trying to digest the whole thing and this link from savemoney.my is wonderfully simple to understand. It is still 17 months away from implementation and I am starting to see the big picture. In the long run, it might just help the country's deficit, provided taxpayer's money are utilized efficiently. There is still time to make adjustments to the GST, perhaps reducing it to 4%. The RM 2,000 tax relief for middle income group looks promising as well.

Increased in RPGT and a ban on DIBS (developer interest bearing scheme) may help stabilize property prices in the long run. It might not be good for speculators though, especially those intending to flip their property in 2014 onwards. Hopefully there will be more long term investors in the future.

It is still to early to see the effects of Budget 2014. What we can do is prepare ourselves financially for the worse. Stop depending on the government. Running a country is not easy. At these times, think about what we can do for the community and the country.

"Ask not what your country can do for you, but what you can do for your country"

John F. Kennedy

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1 comments

  1. For me, applying GST is like giving NSAIDs for a patient that's having a stage IV cancer but presenting to you with complaints of chronic pain in bones or other areas of body and persistent fatigue/ headache . It wont solve the problems at all.

    The only way to reduce the country's deficit is not simply by applying new taxes, but the most crucial part is by eliminating and fighting against leakages, overspending, addiction, wasteful investment and unnecessary expenditures.

    The Auditor General's report clearly indicates that this country is having big issues with malignant corruption at all levels. Malaysia is rotten to the core. Imagine spending RM 40 000 for a laptop and RM 3800 for a wall-clock? Can you top that stupidity?

    Don't forget that we also have difficulties with our balance sheets as Malaysia was ranked Second in Illicit Financial Outflows by Global Financial Integrity, which means that Hundreds of Billions of Ringgits of the Country's wealth had been transferred abroad mainly by corruption, bribery, and tax evasion.

    . http://www.themalaysianinsider.com/malaysia/article/clocks-scanners-and-miscellaneous-items-cost-rtm-rm9m-up-to-7200-times-over
    http://dinmerican.wordpress.com/2012/12/18/on-dirty-money-outflow-malaysia-is-no-2/
    http://www.youtube.com/watch?v=Q7djTbnt3Lo

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