KUCHING: Sheda (Sarawak Housing and Real Estate Developer Association) Kuching Branch advisor, Sim Kiang Cheok has descr ibed Budget 2018 which was announced by Prime Minister, Datuk Seri Najib Tun Razak as “good and expansionary.” He said that the budget would encourage the growth of the country’s economy.
“The budget proposed to continue with BR1M and this is good in spurring our economy. “Even the middle income M40 group also enjoy sa tax reduction o f 2% o n inc ome band o f RM2 0 , 0 0 0 t o RM7 0 , 0 0 0 . T h i s w i l l equate to about a maximum of RM1000 reduction in income tax.” Sim is disappointed that there is no reduction in the corporate tax in the budget to make Malaysia more competitive as a business investment country compared to Hong Kong or Singapore.
“ In Sarawak, we are happy wi th the Pan Borneo Highway commitment with the budget allocation of RM 2 billion, RM 1 billion for communication infrastructure and broadband and half a billion ringgit for rural roads in Sarawak and Sabah. The RM1 billion for the repair of dipiladated schools is also much appreciated.
These investments in the infrastructure and assets will br ing many benefits dur ing the construction period. When completed, these projects will bring long term economic growth to Sarawak,” added Sim.
He pointed out that the 50% tax exemption on rentals received for residential property by resident individuals not exceeding RM2,000 per month was welcomed by house owners and developers.
