By KINIBIZ
– RM150 million is earmarked for the Bumiputera Agenda Unit to implement various programmes.
– Economy class passengers on Rural Air Service routes in Sabah, Sarawak and Labuan are exempted from GST.
– RM70 million is provided through Bank Simpanan Nasional for interest-free loans to build longhouses with maximum loan up to RM50,000.
– RM260 million is set aside to ensure price uniformity of selected items nationwide through 1 Price 1 Sarawak and 1 Price 1 Sabah.
– RM115 million is allocated to special programme for bumiputera in Sabah and Sarawak such as native customary rights.
– RM600 million to be channelled to Tekun, where RM500 million is for bumiputera entrepreneurs and RM100 million for Indian entrepreneurs.
– RM300 million is allocated for the welfare and progress of the Orang Asli community.
– Building 175,000 units of PR1MA houses, Rumah Mesra Rakyat (10,000 units), PPA1M (100,000 units), People’s housing Programme (22,300 units of apartments and 9,800 units of terrace houses).
– RM180 million is provided for establishing the National Disaster Management Agency to strengthen natural disaster management.
– RM730 million allocated to provide Flood Mitigation Projects nationwide RM1.4 billion allocation to improve public service effective from July 1, 2016, including salary adjustment equivalent to one annual increment according to grade, improvement of 252 schemes of service and setting a minimum starting salary in the civil service at RM1,200.
– A new category introduced for all participants in the e-Kasih database, with monthly income below RM1,000 receiving BR1M of RM1,050.
– RM500 special assistance to all civil servants and RM250 for government pensioners.
– RM877 million is set aside to provide clean water supply by building water treatment plants.
– RM515 million is allocated to ensure the reliability of electricity supply in Sabah.
– RM41.3 billion is allocated for 2016 under the Education Blueprint.
– 30 primary schools, 27 secondary schools, four MRSM and five fully residential schools will be built
– RM135 million is set aside for upholding Bahasa Malaysia and strengthening English.
– Maximum relief on tuition fees for individual taxpayer increased to RM7,000 from RM5,000 a year.
– RM70 million proposed for interest-free loans under BSN to build longhouses in Sabah and Sarawak; maximum loan of RM50,000 for every unit in longhouse.
– RM145 million is allocated to prepare athletes for the 29th SEA Games and 9th Asean Para Games in 2017 Kuala Lumpur.
– RM75 million is allocated to produce world-class champions under the Preparation of Elite Athletes (Podium Programme).
– RM22 million is to be channelled to build two sports complexes in Bagan Datoh and Kuantan.
– RM360 million is provided to improve the National Service Training Programme for 20,000 trainees.
– RM77 million is set aside to implement the Train & Replace Programme in selected fields, to improve the management of foreign workers.
– 100,000 houses priced between RM90,000 and RM300,000 to be built by 2018 under Perumahan Penjawat Awam 1Malaysia.
– For the first time, tax relief for children who provide for parents is given total tax relief of RM1,500 for the mother, RM1,500 for the father.
– Tax relief increased to RM8,000 for each child above 18, including disabled child, studying at local or foreign institutions of higher learning from year of assessment 2016.
– Tax relief for each child below 18 years old increased to RM2,000 from RM1,000 from year of assessment 2016.
– MCMC to provide RM1.2 billion for rural broadband projects, National Fibre Backbone Infrastructure, High-Speed Broadband, undersea cable system.
– RM250 million to be channelled for national broadcasting digitisation project to enhance audio visual quality and provide value-add to TV content .
– RM1.4 billion to build and upgrade 700km rural roads nationwide.
– RM878 million for Rural Electrification Project covering 10,000 houses.
– RM568 million for Rural Water Supply Project to benefit 3,000 houses.
– Tax relief for individual taxpayer whose spouse has no income increased to RM4,000 from RM3,000.
– RM500 special assistance to all civil servants and 700,000 government pensioners to get special payment RM250 in January 2016.
– From July 2016, minimum pension rate at RM950 a month for pensioners with at least 25 years of service.
– Minimum starting salary in the civil service set at RM1,200 a month from July 2016, to benefit 60,000 civil servants.
– Government to improve 252 schemes of service that will benefit 406,000 civil servants.
– MRT Sungai Buloh-Semantan ready in December 2016, Semantan-Kajang to complete by mid-2017.
– MRT Line 2 Sungai Buloh-Serdang-Putrajaya will commence in second quarter of 2016, to complete by 2022.
– LRT3 Bandar Utama, Damansara-Johan Setia, Klang will commence in 2016 and expected to complete by 2020.
– RM17.3 billion allocated to Defence Ministry; armed forces will be equipped with latest technology.
– Building and improving rail transport network and highways.
– RM900 million allocated to implement Jalan Tun Razak Traffic Dispersal Project.
– Feasibility study on constructing a Masjid Tanah-Klebang-Jambatan Syed Abdul Aziz coastal highway in Malacca.
– RM42 million allocation for the construction of Mukah Airport, Sarawak, and upgrading airports in Kuantan and Kota Bharu.
– Feasibility study for the extension of the runway in Batu Berendam Airport, Malacca.
– Number of GST-registered companies approaches 400,000 with submission compliance at over 90%.
– Oil prices expected to remain low in 2016 with oil-related revenue estimated to decline to RM31.7 billion.
– GST revenue returned to benefit the people..
– GST revenue at RM39 billion.
– Government prepared to forego GST revenue on several basic necessities.
– Malaysian consumers to get rebates on mobile pre-paid cards equivalent to GST amount paid, effective Jan 1, 2016 to Dec 31, 2016.
– Taxable income band for highest tax rate to be raised from 25% to 26% for those with an income of between RM600,000 and RM1 million.
– Tax rate for those with an income above RM1 million to be raised from 25% to 28%.
– RM200 million earmarked for First House Deposit Financing Scheme to assist first-time homebuyers of affordable houses to pay deposit.
– RM100 million provided by Communications and Multimedia Ministry for eRezeki, eUsahawan programmes; to benefit 100,000 people from B40 households.
– Domestic investment with contribution to the GDP is estimated at 26.7% in 2016.
– Development of the Malaysian Vision Valley with initial investment forecast at RM5 billion in 2016.
– Implementation of Cyber City Centre in Cyberjaya with development cost of almost RM11 billion.
– Development of an airport township or KLIA Aeropolis to attract an investment of RM7 billion.
– Investment of RM6.7 billion by Khazanah Nasional Berhad in nine high-impact domestic projects.
– Investment of RM18 billion for RAPID Complex in Pengerang, Johor.
– Development of Rubber City, Kedah with an allocation of RM320 million, Samalaju Industrial Park, Sarawak (RM142 million) and Palm Oil Jetty in Sandakan, Sabah (RM20 million).
– Special reinvestment allowance for manufacturing and agriculture sectors for selected existing companies.
– 20% stamp duty exemption on Syariah-compliant loan instruments to finance the purchase of houses.
– RM107 million allocated to SME Blueprint.
– RM60 million earmarked for Entrepreneur Acceleration Scheme, SME Capacity and Capacity Enhancement Scheme.
– Establishing a RM200 million SME Technology Transformation Fund to provide soft loans at 4%.
– RM41.3 billion proposed for education in 2016.
– RM3.7 billion allocated for Mara expenditure, including for sponsorship of 72,000 bumiputera students at tertiary level.
– Pan-Borneo Highway scheduled for completion in 2021, will be toll-free.
– Promote bumiputera equity and entrepreneurship.
– RM400 million to be allocated to Ekuinas.
– RM250 million to be allocated to PUNB.
– RM150 million for Pelaburan Hartanah Bhd.
– RM100 million as loan to UDA to develop Kampung Baru, KL.
Government revenue
Government revenue would have been lower by RM21 billion in 2016 if not for the goods and services tax (GST).
Najib said if the sales and services tax (SST) has been retained, the collection for the year is estimated at RM18 billion compared with GST revenue of RM39 billion.
Also the finance minister, he said this when tabling the Budget 2016 in the Dewan Rakyat today.
He said if this was the case, the fiscal deficit would have increased to 4.8% and not the 3.1% targeted for 2016.
“The government would have then been forced to borrow, including to pay civil servants salaries, the nation’s credit rating would be downgraded and all borrowings costs, including personal, business and housing loans would definitely be higher,” he added.
The GST was implemented on April 1 this year at the rate of 6% to replace the SST of 10%. The tax regime has to date been implemented in more than 160 countries.
– To provide clean water supply, RM877 million earmarked to build water treatment plants.
– Fiscal deficit expected to decline from 6.7% to 3.2% in 2015.
– From January 2016, RM100 schooling aid targeted to students from households with monthly income of RM3,000 and below.
– RM30.1 billion is allocated to the economic sector.
– RM13.1 billion is earmarked for education and training, health, housing and the well-being of the people.
– RM5.2 billion is allocated to the security sector.
– Federal government revenue collection is estimated at RM225.7 billion, an increase of RM3.2 billion compared to 2015.
– Fiscal deficit is expected to decline to 3.1% of GDP in 2016
– To promote the use of Industrialised Building System (IBS) in the construction sector, the government is allocating RM150 million as loans for contractors holding licence category G5 and below via SME Bank.
– Tax-exemption for further study raised from RM5,000 to RM7,000
– While government has agreed in principle to TPPA, the final decision will be made through Parliament later. Thus far Malaysia has signed six regional free trade agreements (FTAs) and seven bilateral FTAs.
– The government targets some 30.5 million tourist arrivals in 2016 who are expected to contribute RM103 billion to the economy.
– Some RM250 million is allocated for the digitisation of national broadcasting.
– From 2009 up to present day, road access nationwide has increased from 46,000 km to 51,000 km.
– RM60 million to be spent in social amenity projects and flood prevention efforts.
– BRT Bus Rapid Transit KL-Klang project at cost over RM1.5 billion and Bus Rapid Transit Kota Kinabalu at cost nearly RM1 billion will go ahead.
– RM67 million allocated for bus operation routes outside the city.
– Tourism expected to generate RM103 billion in revenue, hence RM1.2 billion allocated to Tourism Ministry, online visa application with seven countries including US and China, e-Visa by mid-2016
– SME plays an important role in developing economic value chain. To achieve 41% GDP contribution by SMEs by 2020 – five actions:
1 – Additional RM1 billion for Syariah-compliant Skim Dana Pembiayaan PKS until Dec 31, 2017 with government bearing 2% of profit rate of financing.
2 – RM107 million for Plan Induk PKS, RM60 million for Skim Anjakan Usahawan, Skim Peningkatan Kapasiti and Keupayaan PKS.
3 – RM60 million for Skim Anjakan Usahawan dan Skim Anjakan Kapasiti.
4 – RM200 million SME Tech Transformation Fund under SME Bank at 4% interest rate.
5 – RM18 million for TUKAR, and Projek Automotive Workshop Modernisation (ATOM)
– RM250 million for digitisation of national broadcasting.
– Road access in rural areas has increased from 46,000km in 2009 to 51,000km.
– RM200 million to upgrade roads in Felda settlements.
– RM70 million for rural business challenge programme.
– In 2016, govt aims 30.5 tourists which are expected to contribute RM30 billion to economy.
– RM5.3 billion for Agricultural Ministry – among others RM450 million for various high-impact programmes such as planting fruit trees, grants etc. RM190 million to Fama for programme penurunan harga by adding 50 pasar tani and bazar rakyat baru. RM90 million for programme pembangunan agropreneur muda via grant-in-kind.
– 42 million – Construction of Mukah airport and upgrade Kuantan, Kota Bharu airports.
– RM1.2 billion to improve Internet speed up by four times from 5 to 20 Mbps
– LRT Ampang Line, 18.1km, will be ready by March 2016. LRT Kelana Jaya extension, 17.4km, will be ready by mid-2016. Both collectively worth RM10 billion. MRT Sg Buloh-Semantan ready by December 2016. Phase 2 of Semantan-Kajang ready by mid-2017.
– 2Q16 start work on KVMRT2 SSP Line.
– LRT3 36km will benefit two million residents with RM10 billion cost. Start work 2016 and ready by 2020.
– High-speed rail negotiation will go on with the Singaporean government.
– Prepaid users will receive a GST rebate, which will be credited to them starting January 2016 till end-December 2016.
– GST exemption for procurement of teaching materials and tools for vocational and skills training.
– Nearly 400,000 companies have registered for GST to date with more than 90% submission rate.
– In 2016, federal government revenue collection is estimated at RM225.7 billion, up RM3.2 billion over 2015.
– RM267.2 billion allocated under Budget 2016 compared with revised RM260.7 billion in 2015.
– RM215.2 billion is for operating expenditure and RM52 billion for development expenditure.
– RM70.5 billion is for emoluments and RM36.3 billion for supplies and services.
– Government to extend zero-rated and exempt lists under the goods and services tax (GST).
– Items such as foodstuff, baby soya and organic milk formula, dhal, gula melaka, dry mee kolok included in zero-rated list.
– Najib: Government will continue to make right decisions though not popular in the best interest of the rakyat and nation.
– Najib: Malaysia is not a failed or bankrupt nation but stable with strong economic fundamentals and remains competitive.
– Najib tables Budget 2016 in the Dewan Rakyat on the theme ‘Prospering the Rakyat’.
– Najib: Malaysia is not spared from impact of global economic slowdown, declining commodity prices, ringgit depreciation, and slower growth in advanced economies.
– Prime Minister/Finance Minister Najib Abdul Razak begins to table Budget 2016 at Dewan Rakyat.
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