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Friday, January 28, 2022
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Updates made to Malaysia National Budget 2021

Updates made to Malaysia National Budget 2021

In order to get the support from all the Members of the Parliament (MP) of Malaysia, our Finance Minister, Tengku Datuk Seri Zafrul Tengku Abdul Aziz had made some amendments to the National Budget.

Let’s have a look at the following amendments had been made.

  • Introduced i-Sinar made available to all EPF members, which enables the members to withdraw up to RM10,000 from the first account.
  • RM5 million will be donated to Sabah via Agensi Pengurusan Bencana Negara (NADMA), on top of the RM4.4 million donation made via Ministry of Health (MOH).
  • Extended Moratorium to M40 and B40, subjected to certain criterias.
  • Additional support to Covid-19 frontliners, a one-off subsidy of RM500 to medical staff and RM300 to police, and staff from other departments such as immigration department.
  • Support to fishermen who are affected by the monsoon season increased from RM250 to RM300.
  • One-off subsidy to retired policemen of RM500.
  • Donation of up to RM100 million to JAKIM to be distributed among the Islamic schools.
  • E-Wallet support increase from RM50 to RM100, and is extended to college and university students who are above the age of 20.
  • Lessor who give a 30% rent reduction will enjoy a 6 month income tax relief until March 2021.
  • Reduce resource allocation to JASA, however, details will be released in the next reading.

There could be more coming from the next reading, stay tuned for more announcements made by Tengku Zafrul about the National Budget.

Comment if you like the amendments made the the National Budget 2021.

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