What is the implication of SST on financial products & services? (Aug 2018)

The Ministry of Finance has announced that 6% of Service Tax will come into effect in Malaysia on 1st September 2018, repealing the Goods and Services Tax (GST) which was first introduced as 6% on 1st April 2015 and further reduced to 0% on 1st June 2018.

Unlike GST which taxes all goods and services unless an exemption is provided, Service Tax is only charged on certain prescribed services made by prescribed taxable persons.

For Life Insurance products, Service Tax of 6% will be chargeable on the premiums of products below:

The 5 companies that Khazanah Nasional invested in may surprise you !!!

First of all, we have to bid farewell to Tan Sri Datuk Azman Mokhtar for his great leadership and guiding the investment arm of our government - Khazanah Nasional Bhd - for the past 14 years. Also, this should extend to all board members who were collectively resigned voluntarily last month.

Khazanah Nasional Berhad is the strategic investment fund of the Government of Malaysia. We are entrusted to hold and manage the commercial assets of the Government, and to undertake strategic investments on behalf of the nation.

Spectacular performance for the past 14 years !!!

RAV: Market value of all equities, securities and cash held;
NWA: RAV less Total Liabilities and adjusted to measure value created

Interesting companies that were invested by Khazanah Nasional Bhd:

Knowing the 5 'Avengers' of “Council of Elders” by Tun Mahathir

First of all, let us congratulates Pakatan Harapan (PH), lead by Tun Mahathir, coming with a beautiful victory over the ruling coalition Barisan Nasional (BN) on 9th May 2018. This is the 14th general election of Malaysia where Malaysians vote to decide who to lead the country forward. The mandate was given for 5 years, and Tun Mahathir scores the many history records on this beloved country and the world.

And, one of the first by the newly elected Prime Minister (PM) Tun Mahathir was by setting up a "council of elders" comprising 5 experts from various fields whom will serve as advisors to the new government in order to rectify the current 'troubled' economic problems of the country. Let us know the background of these 'Avengers' to save the country...

Where will the local market heading to after GE14 ???

Yeah... It's drawing closer and closer now. The election war officially started on nomination day where we see troops of supporters from both sides (even 3 corner fight) raving from the nomination center till various social media platforms.

The ruling party already flooded your favorite YouTube, News portals, and TV channels with their campaign manifesto, while opposition parties holding ceramah day-and-night nationwide to draw the attention of voters on top of their usual Facebook reach-out strategy.

The current ruling government was expected to continue its power by most analysts given the split of votes on the opposition side. Anyway, everything is possible in the current world judging from the surprise outcome from Brexit, UK election, US presidential election...

Would Malaysia follow the surprise trends of the world?
Let's see and investors should prepare for the different outcomes of the result.

YA2017 Tax Relief for Personal Income Tax Filing

Here are the updated tax relief listings for your reference. Let's max up the relief given to reduce your tax burden.

Please take note that item 8 was combined together and only can be entitled up to a maximum of RM2,500 relief. Although the limit was reduced, if compared to the separate limit given in previous years, it does include internet subscription and smartphone and tablet this round.