Malaysia 2019 Budget highlights

*Malaysia 2019 Budget highlights*

1. 2019 Deficit of 3.4% of GDP
2. Education to get 19% of budget.
3. To launch airport REIT  ✈
4. Airport Departure tax RM20 to asean,
RM 40 to other countries from July 2019. 🤨
3. RPGT for houses. Tax on citizens 5% after 5 year holding period, for foreigners, increase from 5% to 10%.  🏠
4. Property Stamp duty from 3% to 4%.
5. Casino duty 35%. Jackpot duty 20%  🎰
6. RM5b grant for low income households & children 👶
7. RM2b petrol subsidy for cars <1500cc 🚗
8. All luxury items, Cars and Handbags will see higher tax 👜
9. Inland Revenue Board IRB given more power to investigate ostentatious lifestyle not in line with income 💰
10. Amnesty of previously undeclared income:
Now til mar 2019 10% tax
Apr to Jun 2019 15% tax
After Jun 2019 80% to 300% tax
11. MACC anti corruption  agency to see an increase of 100 👮‍♀ officers
12. 40 sen/l  sugar tax on 🥤 drinks
13. No smoking in restaurants from  1-1-19 🚬
14. No toll hike for 2019
15. Min wage set at RM1100.
16. p2p lending/ crowdfunding. A buyer can purchase a home worth RM250,000 by paying only RM50,000 while the balance is financed by investors through the peer-to-peer scheme.
17. Tax exemption for money market wholesale fund to end 31-12-18.
18. Tax cut on bond and Sukuk issues
19. Establish special taskforce for developing Islamic banking
20. Foreign worker levy for agriculture reduced from RM10k to RM3.5k pa.
21. Pangkor and Penang port cruise centre to be duty free. 🛳
22. 7 day leave for religious trips. For both Muslims and non Muslims.
23. Msia to issue 10 year ¥200b Samurai Bond at 0.65%  🇯🇵