Malaysia Budget 2013

The full text of SPEECH BELOW

The good news for most Malaysians in Budget 2013, Datuk Seri Najib Tun Razak disclosed various incentives and goodies, and announcing that the 2013 fiscal deficit would be reduced to 4% from% last year 4.5.

Among the goodies the building of 123,000 affordable homes cost RM1.9bil in key locations such as Kuala Lumpur, Shah Alam, Johor Baru, Seremban and Kuantan. The houses will cost between RM100, 000 and RM400, 000 each.

He also announced the continuation of the people 1Malaysia Aid (BR1M) of RM500 to households earning not more than RM3, 000 per month.


The Prime Minister also extended assistance under cover 2.0 BR1M RM250 payment only for unmarried individuals aged 21 and over, earning more than RM2, 000 per month.

It also increased the 1Malaysia book voucher for Artists students studying in higher education institutions Fearing RM250 from RM200 previously.

A retired civil servant who served the Government at least 25 years now see their pensions raised a minimum of RM820 per month from RM720 previously.

Najib announced a month-and-half bonus for civil servants and a reduction in income tax of one percentage point for the first RM50, 000 of chargeable income.

Budget 2013: Facts and figures

Here are the main points of Budget 2013, Najib in Parliament on Friday.

* Najib said that the budget is a sign of respect for Malaysians and based on the background of the economy was poised to expand 4.5% -5% for 2012, spurred by private investment.

* The allocation for next year's budget RM251.6bil the fiscal deficit by 4% compared to the 2012 deficit of 4.5%.

* The Government will re-introduce to get foreign company incentives and tax incentives for local service providers

* RM500mil will be allocated for the River of Life project to rejuvenate Klang River

* Halal Industry Fund will be available to RM200mil to fund working capital for small and medium-sized enterprises that produce halal products

* Government to set up a group insurance coverage for hawkers and small business owners

* Tax incentives for private entrepreneurs in the oil and gas industry, including a 100% income tax waiver for 10 years, withholding tax exemption and stamp duty

* Global Incentive tax incentive for Trading (GIFT) program malaysia international commodities trading hub of global demand for liquefied natural gas (LNG). Will trade commodities including commodity Approved, for example in agriculture,, filtered raw materials, minerals and base chemicals. Gift will see a 100% income tax waiver for the first 3 years of operation

* Tun Razak Exchange expected to attract 250 international companies and 40,000 jobs to offer; 10-year tax exemption for companies with TRX status

* RM230mil in incentives for fishermen, RM2.4bil in subsidies and incentives for sectors Paddy

* Securities Commission will framework for issuing AgroSukuk companies involved in agriculture. To AgroSukuk, the government has allocated a double tax deduction for a period of four years from 2012 to 2015

* RM350mil for all entrepreneurs, including RM50mil for Indian entrepreneurs

* RM38.7bil to improve the quality of education in the country a further RM500mil for training teachers in the core subjects of English, Bahasa Malaysia, Science and Mathematics.

* Free tax incentives and grants for the establishment of new nurseries and kindergartens. RM1.2bil allocation for the development of pre-school

* Total upgrade 1bil schools - RM400mil for national and RM100mil all schools of Chinese, Tamil, mission, beliefs, boarding schools and MRSM

* RM1bil to set up a fund to help small and medium enterprises to increase bumiputra equity stake in the economy

* Minimum Pension will be increased to RM820 for those who served at least 25 years govt. More than 50,000 pensioners afftected.

* The Government will establish a Graduate Employability Taskforce with an allocation of RM200mil to strengthen the employability of of Graduate Employability Blueprint unemployed graduates by the end of 2012

* The Government will allocate RM440mil to the Skills Development Association Fund Corporation (PTPK), to provide loans to trainees undergoing training in skills

* SOCSO will allocate RM200mil to enable its 1.4 million members to undertake health screening free of charge in government hospitals or clinics SOCSO panel on detection of non-disease.

* For further support the production and use of technology-based green products, the GTFS fund will increase RM2bil and the application period will be extended for three years ended December 31, 2015.

* A grant provided by the Government to send RM14mil National Legal Aid Foundation for those who can not afford legal representation. For 2013, an additional allocation of of RM20mil available.

* Further efforts will reduce the to improve crime rate, with an allocation of RM591mil in 2013

* The Government will ensure the rakyat enjoys good health services. For 2013, the Government RM19.3bil allocation for operational expenditure and development expenditure.

* A total of 500 women to train as board members of the Women's Program Directors

* The Single Mothers Skills Incubator Program (I-Kit) will be enhanced to provide advisory and training services for single mothers in entrepreneurship

* 1Malaysia Welfare Programme (KAR1SMA) under the Ministry of Women, Family and Community will allocate RM1.2bil comprises assistance programs for citizens, senior and disabled workers as well as children with chronic illness.

* To help young ICT entrepreneurs, New Entrepreneur Foundation (NEF) with allocated RM50mil front. The NEF will provide the platform and guide training programs.

* In addition, the Young Entrepreneurs to establish a Fund with an allocation of RM50mil by the SME Bank. The soft loans, aimed at youths aged 30 and below, the rate of 2% interest subsidy on loans up to RM100, 000 with a repayment period of seven years.


* Through the Youth Communication Package, a one-time rebate of RM200 is to provide for the purchase of one unit of a 3G smartphone from authorized vendors. The project is for young people aged 21 to 30 years with a monthly income of RM3, 000 and below. A sum of RM300mil allocation will benefit 1.5 million youths.

* 50% discount on fees KTM Komuter be extended to all Malaysians traveling with a monthly income of RM3, 000 and below by KTM Komuter.

* The Government will allocate RM1.9bil to build 123,000 affordable housing units in strategic locations in 2013. The initiatives implemented by PR1MA, Syarikat Perumahan Nasional Berhad (SPNB) and Jabatan Perumahan Negara

* The total RM500mil to spend PR1MA build 80,000 houses in large parts of the country with the selling price ranging between RM100, 000 and RM400, 000 per unit. Among these sites Kuala Lumpur, Shah Alam, Johor Bahru, Seremban and Kuantan.

* PR1MA will provide the Housing Facilitation Fund totaling RM500mil to build houses in partnership with private housing developers. House prices under this program will be 20% lower than the market price and distribution through an open voting system.

* To enable more Malaysian their own residential property for the first time, My First Home Scheme, launched under the previous Budget, be improved by increasing the income limit on individual loans from RM3, 000 to RM5, 000 per month or joint husband and wife loans of up to RM10, 000 per month.

* In an effort to curb speculation, the Government proposes that the property gains tax (RPGT) true from disposal of property made within a period not exceeding two years from the date of purchase will be taxed at a rate between 15% and 10 % of disposal of property within a period of 2 to 5 years. To dispose of property after five years from the date of acquisition, RPGT is not applicable

* BR1M also extend to less than RM2000/month singles. But the amount of RM250.

* Subsidy sugar to be charged at RM0.20 per kg, with effect from September 29, 2012

* RM386mil to ensure the prices of essential goods in Sabah and Sarawak, as well as in Labuan sold at lower prices through the opening 57 KR1M; delivery and the cost of products from Peninsular Malaysia to Sabah, Sarawak and Labuan including inside the bear areas.

* Reduction of individual income tax rate by 1 percentage point for each annual grouped income tax not exceeding RM2, 500 to RM50, 000. The measure will benefit 170,000 taxpayers from paying tax as well as savings on their tax payment.

* Government to help school bus operators rebate RM10, 000 cash and a 2% interest rate subsidy on total loans for the purchase of new buses to replace buses with more than 25 years old with new 12 18 seater buses.

* To ease the financial burden on parents, the Government proposes that the existing tax relief on higher education of the children who RM4, 000 per person increased to RM6, 000.

PTPTN loans: Incentive for repayment of the loan in full from October 1, 2012 to September 30, 2013, will give a 20% discount on their loan. Regular repayment gets 10% discount.

* Felda implementation will generate new housing project completed represents 20,000 units for a period of five years on 5,000 acres of land in Felda areas. The project will cost the sum of RM1.5bil

* Development Berhad 1Malaysian Trust will allocate RM300mil to provide educational grants and preschool to build Rumah arau financial aid students on the interior of Sarawak Clinic, 1Malaysia Mobile and repair houses for the poor and needy

* One and a half month bonus for civil servants this total, half a month during Aidilfiltri bonus paid last half month bonus at the end of December 2012, and January 2013, respectively.

IMPLEMENTATION OF THE BUDGET SPEECH 2013 Sri YAB Dato 'Mohd Najib Tun Haji Abdul Razak Prime Minister and Minister introduction FINANCIAL SUPPLY BILL (2013) SA RAKYAT Dewan Friday, September 28th, 2012 "prospering THE NATION, WELL BE THE RAKYAT: A Promise comply "

Mr. Speaker Sir, I beg to move the Bill entitled "An Act to sum from the Consolidated Fund for the service of the year 2013 and to appropriate that sum for the service of that year" be read a second time.

INTRODUCTION

I begin with the 2013 statement of reciting the kalimah Budget sacred Bismillahirrahmanirrahim and by repeating a verse from Surah Al-Baqarah, revealed in Madinah: "And everyone is a direction to which he should turn, therefore hasten to (a do) good works; wherever you are, Allah will bring you all together (for judgment); surely Allah has power over all things ".