Malaysian Budget 2008 - 13 Goodie Bags

1. Corporate Joy

• Corporate tax to be further lowered by 1% to 26% for 2008

2 . Home Sweet Home

• EPF members can use savings to offset monthly repayments
• Scheme to enable people to own better homes
• RM9.6 billion will be made available for the scheme
• 50% stamp duty exemption on ownership transfer up to maximum of RM2,000.

3. Housing for All

• RM50 million fund to guarantee housing loans taken by those without fixed income
• RM381 million for low-cost housing programmes
• RM887 million to build quarters for civil servants.

4 & 5. Free Education

• Textbook Loan Scheme to be extended to all pupils
• 5.7 million pupils to benefit compared with 4.5 million currently
• Annual fee for primary and secondary schools abolished
• Examination fee for Sijil Tinggi Agama Malaysia abolished

6. I. T. Knowledge the Key

• Import duty and sales tax waived on broadband equipment and consumer access devices
• Companies to enjoy tax deduction on computers and broadband subscription given to employees
• Employees receiving such benefits in kind exempted from tax

7. C.O.LA. Cheer for Scholarship Holders

• Cost of living allowance (Cola) for scholarship to be increased by between 23% - 84%
• Scholarship holders overseas to get 97% increase in Cola
  

8. Lifelong Learning

• Tax relief of RM5,000 for all postgraduate studies
• Human resource Development Fund can be used for Master's and Doctoral studies.
• Construction industrial Development Board to set aside RM100 million to train 50,000 workers under the Masterskills Training Programme

9. Biotechnology

• RM236 million to provide infrastructure and technological facilities
• Bionexus-status companies to be allowed to use laboratories and research facilities at local universities.

10. Efficient Transportation System

• RM12 billion for Kuala Lumpur and Penang over 4 years
• Road and rail improvements in Sabah and Sarawak
  

11. Help for Single Mothers

• RM782 million to help women, especially single mothers
• Project include skills training
• RM10 million to NGOs to train housewives in baby and childcare as a business

12. Senior Citizens

• RM2 billion bond for those aged 55 and without permanent jobs
• Maximum limit RM50,000 per person
• Maturity period of 3 years
• 5% return per annum
• Higher allowance of RM300 (previously RM200) for needy senior citizens from 1 Jan 2008

13. Joy for Teachers

• Special education teachers' monthly allowance to go up to RM250 from RM100
• Graduate substitute teachers' allowance goes up to RM150 per day (previously RM85)
• Allowance of RM60 per hour for degree holders, RM50 for diploma holders to teach Mandarin or Tamil.