What to Expect in Budget 2012

img src=”http://www.malaysia-kini.com/wp-content/uploads/2011/10/bajet2011.jpg” alt=”Budget 2012″ title=”bajet2011″ width=”585″ height=”327″ class=”alignnone size-full wp-image-3200″ /
The strongMalaysia Budget 2012 /strongwill be presented this coming Friday. As usual, many are talking that the Budget 2012 is the election budget and the strongBudget 2012/strong is set to strengthen the domestic economy and help lessen the burden of rising costs of living !

What to expect in strongBudget 2012/strong ?

Based on the media report one of the big thing that will be announced is on the new pay scheme for the country’s 1.3 million civil servants that will see salaries jump by up to 40 per cent next year. Besides that, our Prime Minister Datuk Seri Najib Razak is expected to announce a return to a single-tier system when tabling Budget 2012 after more than 15 years of grumbling from public sector employees who say the current triple-tier system is unfair.

The increase could be up to RM700, and in terms of percentage this will be up to 40 per cent for some grades.

Some sources said that the prime minister was considering a hefty strongbonus/strong or pay increase for the civil service in a “break-the-bank” budget to counter rising costs and keep their support ahead of a general election expected within a year.

strongReal property gains tax (RPGT)/strong would probably increase after Budget 2012 by another 5%. The current RPGT, imposed after Budget 2010, is 5% for all properties sold within the first five years of purchase.

strongTax on Hybrid Car /strong? Will the Government extend the same waiver of import tax for hybrid car below 2.0cc.

Lets wait for Friday for details….

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