The reduction is expected to provide around 2.4 million taxpayers with added disposable income of up to RM1,300, which will benefit the M40 group, he added.
“As I have explained, the government will take a progressive approach. While the M40 group will benefit from a reduced income tax rate, we will raise the tax rate for the high-income group by 0.5 to two per cent for tax bands of over RM100,000 to RM1 million.
“Only less than 150,000 taxpayers will be affected by the higher tax rate,” he said when presenting the Budget 2023 at the Dewan Rakyat today in his capacity as Finance Minister.
Anwar said through this approach, RM900 million in government tax income reduction will go on to benefit Malaysians, especially the M40 group.– BERNAMA
By Sarawakian In 2008, Subang Jaya discovered the power of the ballot box. For decades, residents had complained about traffic,… Read More
By Paul Yung I have been playing quite a bit of pickleball recently, and I discovered something rather strange. The… Read More
By Teh Eng Hock With its first home completed in 1976, Subang Jaya is half a century in age. Like… Read More
We cannot keep cleaning the drains while ignoring who keeps dirtying them. Subang Jaya has much to be proud of.… Read More
Dorsett Grand Subang has appointed hospitality industry veteran Nigel Boey as its new general manager, effective Sept 1. Boey brings… Read More