KUCHING: Sarawak Housing and Real Estate Developers’ Association (SHEDA) Kuching branch chairman Datuk Sim Kiang Chiok commended the Budget 2023 as an expansionary budget that Malaysia needs to restore the growth in the economy.
In stating this, he lauded Prime Minister Datuk Seri Anwar Ibrahim for carrying out the previous government unapproved budget initiatives and increased the overall budget to try to continue the recovery from the COVID-19 pandemic.
“In my personal opinion, it is good to control inflation through the RM64 billion allocation for subsidies, aid and incentives and cost of living through cash handout of RM8 billion in cash aid under Sumbangan Tunai Rahmah. This will benefit 8.7 million people of B40.
“Furthermore, the poorest will receive up to RM3,100 and RM200 for those aged 18 to 20 years old.
“For M40 personal income tax rate reduction by 2 per cent for those earning between RM35,000 and RM100,000. This will benefit around 2.4 million taxpayers,” he said in a statement yesterday.
He also welcomed the aid for the small and medium-sized enterprises (SMEs) where their income tax is reduced from 17 per cent to 15 per cent for the RM150,000 and the various loan facilities given through the government guarantee and loans.
“In terms of the housing, the budget also includes stamp duties waiver for houses below RM500,000 and 75 per cent reduction for properties below RM1 million, and RM5 billion in funds under the Housing Credit Guarantee Scheme for 20,000 eligible borrowers which mainly cater for the borrowers without fixed income,” he said.
Sim also said that it is commendable that the employment initiative is continued under Social Security Organisation (SOCSO).
“Under this initiative, an incentive worth RM45 million is allocated for employers to hire 17,000 technical and vocational education and training (TVET) graduates.
“Moreover, there is also an incentive provided for up to three months to firms that hire the disabled, ex-inmates, homeless and jobless.
“All in all, the budget will definitely restore our economy,” he said.
