EDUCATION
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> RM30 billion for primary and secondary education.
> Pre-school education to be incorporated as part of the mainstream national education system and centralised pre-schools to be set up in existing school premises.
> National scholarships to 30 creme de la creme students strictly based on merit to further their education in world renowned universities.
> National Higher Education Fund Corporation (PTPTN) loans will be converted to scholarships for students who graduate with first class honours degree or equivalent, beginning 2010.
> 50% discount on fares for long-distance services of Keretapi Tanah Melayu Berhad (KTMB) to students aged 13 and above. A complimentary 1Malaysia student discount card can be obtained from KTMB from 1 Jan, 2010.
> Netbook package, including free broadband service, to university students for RM50 per month for 2 years. Priority will be given to first year students and those from low-income families.
TAX RELIEF
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> Personal income tax relief increased from RM8,000 to RM9,000
> Existing personal tax relief on RM6,000 on EPF contribution and on life insurance premium increased to RM7,000. THe RM1,000 increase is solely for premiums for annuity schemes by insurance companies.
> Maximum tax rate down by 1% to 26%
CREDIT CARD
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> Service tax be imposed on credit cards and charge cards including those issued free of charge, at the rate of RM50 per year on the principal card; and RM25 per year on the supplementary card. Service tax will be collected on the date the card is issued, on the completion of each year or on the date of renewal.
REAL PROPERTY GAINS TAX
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> A tax of 5% be imposed on gains from the disposal of real property from Jan 1 2010. However, the existing tax exemption will be retained for gifts between parent and child, husband and wife, grandparent and grandchild. This exemption will also be given on disposal of a residential property once in a lifetime.
INFORMATION TECHNOLOGY
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> Individual taxpayers to be given tax relief on broadband subscription fee up to RM500 a year from 2010 to 2012.
> Civil servants can apply for computer loans up to a maximum of RM5,000 from the Government once in every 5 years instead of the present 3 years.
GREEN TECHNOLOGY
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> A fund of RM1.5 billion to be set up to provide soft loans to companies that supply and utilise green technology.
> Building owners who get Green Building Index (GBI) certificates from Oct 24 2009 until Dec 31 2014 to be given income tax exemption equivalent to the additional capital expenditure in obtaining such certificates
> Buyers purchasing buildings with GBI Certificates from developers to be given stamp duty exemption on instruments of transfer of ownership. The exemption amount is equivalent to the additional cost incurred in obtaining the GBI Certificates. This exemption is given to buyers who execute sales and purchase agreements from Oct 24 2009 until Dec 31 2014.
IMMIGRATION
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> The granting of Permanent Resident (PR) Status to highly talented and skilled individuals will be simplified.
> Visas will be automatically granted to working and dependent expatriate family members within 14 days. PR status will also be extended to foreign men married to Malaysian women.
RETIREMENT
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> 1Malaysia Retirement Scheme for self-employed and those without fixed income to be managed by EPF. Government will give 5% for every RM100.
HEALTHCARE
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> RM14.8 billion to manage, build, prgrade hospitals, clinics and expanding community clinic services.
> 1Malaysia community health clinics will be established in urban areas next year in shoplots within housing areas and manned by medical assistants for
basic treatment of fever, cough and flu everyday. For a start, RM10 million would be provided to set up 50 clinics.
CRIME PREVENTION
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> RM1 billion for police to reduce crime, including snatch thefts and robberies, and another RM1.9 billion to enhance country’s border security
CREATIVE INDUSTRY
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The establishment of a RM200 million Creative Industry Fund to finance activities such as film and drama productions, music, animation, advertisements and local content development. The fund managed by Bank Simpanan Nasional will provide soft loans with simplified loan application procedures
AGRICULTURE
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> RM6 billion to ugrade and improve drainage and irrigation infrastructure in paddy fields, modernise the aquaculture industry and implement entrepreneurship training scheme for aquaculture breeders, develop food farming industry such as fruits, organic farming and hebs, develop basic infrastructure of livestock farms and for training agro-entrepreneurs
SMEs
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> To encourage the development of local entrepreneurs, particularly small and medium enterprises (SMEs), the Government will allocate a sum of RM350 million to SME Corp., of which RM200 million is for SME soft loans, RM100 million for capacity enhancement, while the balance is for branding and promotion. The interest rate on soft loans offered by SME Corp will be similar to rates offered by development finance institutions.
> RM538 million will be allocated for the implementation of various SME development programmes, includes RM281 million to state economic development corporations, RM200 million to Tekun (Tabung Kumpulan Usaha Niaga), and RM20 million for small-scale Malaysian-Indian entrepreneurs, which is an addition to the existing allocation of RM15 million.
> An allocation of RM57 million, among others for the purchase of business premises, provision of infrastructure outside industrial areas and Skim Kilang Bimbingan through the SME Bank.
INFRASTRUCTURE
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> An allocation of RM9 billion to be provided to finance infrastructure projects including road and bridge projects, water supply and sewerage services, rail facilities, airport and sea services.
BUSINESS
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> Business registration and issuance of Development Orders to be expedited.
> 2 new Commercial Division Courts to expedite the hearing of commercial cases and resolve them within 9 months.
> Individuals and companies are only required to use a single reference number in their dealings with Government agencies. For individuals, the initiative known as MyID, uses MyKad number, while for companies, MyCoID utilises the Companies Commission of Malaysia (CCM) business registration number.
TOURISM
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> A total of RM899 million to further intensify the tourism industry, particularly ecotourism, agrotourism, edutourism and health tourism.
> More initiatives to attract participants from United Kingdom, Japan, Republic of Korea, Middle East, India and China to join the Malaysia My Second Home (MM2H) programme;
> More attractive tourism products and events including KL Grand Prix Fest, National Water Festival, Rain Forest EcoChallenges and Malaysia International Golf Exhibition as well as launching a large-scale shopping mall for branded items based on the factory outlet concept
MEDICAL TOURISM
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> Government will enhance tax incentives for healthcare service providers who offer services to foreign health tourists.
> Income tax exemption of 50% on the value of increased exports will be increased to 100% to enable healthcare service providers to offer high quality health services and attract more health tourists.
INSURANCE
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> Micro insurance and takaful coverage will be expanded. With premium as low as RM20 per month, small-scale businessmen will benefit from coverage ranging from RM10,000 to RM20,000.
STOCK MARKET
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> Liberalise the commission-sharing arrangements between stockbrokers and remisiers in 2 stages to encourage retail participation in the stock market.
> 100% foreign equity participation allowed in corporate finance and financial planning companies compared with the present requirement of at least 30% local shareholding
MICRO-CREDIT PROGRAMME
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> The Ar-Rahnu micro credit programme will play an important role to assist those unable to secure financing from financial institutions, to obtain business capital expeditiously by using gold as collateral.
> Syariah-compliant financial and banking institutions, such as Bank Muamalat and Bank Islam to offer the Ar-Rahnu scheme.
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