Malaysia Budget Policy Advantages And Disadvantages Analysis

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The Advantage in Malaysia’s Budget Plan 2015 YAB Dato’ Sri Mohd Najib Tun Haji Abdul Razak presented the Malaysia’s Budget Plan 2015 on Friday October 10th 2015. Budget Plan 2015 are formulated and brings out more focus in the People’s Economy. In my personal point of view, the 2015 Budget Plan is a nice balance of the people’s economy and the capital economy. The people’s economy is aligned with the citizen’s interest like their employment, their cost of living, their income, the quality of their life. However, the capital economy is more to the managing of economy and the policies made. This includes macroeconomics viewpoint whereby it involves GDP growth, income per capita, capital market and more. One of the advantages of the Malaysia’s Budget Plan 2015 are, the escalation in the BR1M receivers in Malaysia. BR1M is a financial aid distributed by the government for citizens with low income that in need in household help. It was first implemented in the year of 2012. Whereas the Malaysia’s Budget Plan 2015 have taken measures in thinking over the rise of consumer’s cost of living and increase BR1M with a total of RM4.9 billion for Malaysia citizens. Based on the data above, the government increase the BR1M to RM950 from RM650 for household with the income not more than RM3000. For income…show more content…
Individual income tax rates will be lower 1% to 3%. People that pay taxes that have a family of their own with an income of RM4,000 are excluded from tax liability. Tax liability is the whole amount of tax that an individual have to pay, when things that are capable of being taxed occur. Also in the Budget Plan 2015 itself stated that maximum tax rate will be reduced to 24%, 24.5% and 25% from 26%. Thus, the tax payers will be in the advantage resulting at least 5.3% of tax saving. They can save up and spend when in need or on important
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