Friday, 7 September 2007

Of budget and 2 awards

Warning: This is not a Friday Frolics entry.

For those of you who are not aware, our PM will be announcing the National Budget 2008 tomorrow at about 4pm. Does it sound extraterrestrial to you? Well, it is something that you probably do not know because you think you don’t need to know but in actual fact, you need to know at least a little because it affects you… you know?

You know those high prices you pay for booze and ciggies? It’s all because of sales tax imposed on such products. And you know what? The National Budget is the time when an increase will be announced or otherwise. Increase in sales tax for booze and ciggies is an annual affair but with the erection election anticipated… who knows? You might just be able to drown your sorrow with booze or smoke your life away without having to pay more.

Speaking about the speculated imminent election, it is also anticipated that there will be a lot of goodies for you and I, which can effectively translate to dollar and cents. One of the goodies that I can think of is reduction of individual income tax. Doesn’t concern you because you don’t pay tax? Well… how about… further reduction in driving licence fees or maybe reduction in passport renewal. Of course, there will be the usual… “improvement in civil service” and maybe some announcement of more mega projects.

Back to reduction of individual income tax which you think it will not affect you as you may not be in the tax paying bracket… well, how about staying in that non-tax paying bracket for a longer period of time? Now… doesn’t that sound attractive?

But hold your horse… the reason why individual tax rate may be reduced, besides trying to win votes… is that GST may be implemented soon.
I have talked about GST before here. For those who didn’t read it or choose not to read it… basically, it is a tax imposed on almost every product. You know how you are paying a 5% tax when you eat in McD or KFC… imagine paying tax when you buy things ranging from gadgets to clothes to condoms. Sucks eh? But don’t worry… many experts do not think GST will be implemented until after the “E”.

Of course, we can also expect things like “there-will-not-be-any-petrol-price-increase-for-the-time-being”… but what will entails tomorrow? Let us wait and see if what I said will materialise. More importantly, the National Budget is something that affects us all, directly or indirectly. If we claim to be Malaysians, we should at least know a little about it.

Last but not least, many thanks to
hcfoo for giving me the ‘Nice Matters Award’. It’s good to know that I am considered as one who care about others and I am a positive influence. It’s indeed very heart warming to receive it. Appreciate it.

Also (I know, this is beginning to feel about some self gratification but…what the heck)… a big thank you to
cibol for awarding me the ‘Thoughtful Blogger Award’. Consider that cibol only award me and choose not to award ‘the other bloggers’… really made me feel as though I am getting an oscar! I am honoured and truly appreciate such award.

Have a brilliant weekend ahead!

39 comments:

tingtitlei said...

the big E eh. the complete antonym of the big O.

maegen said...

i hate the budget day as its the most busy weeks for me before the day come as our "goods" usually are in the "raising" column .. sucks.. "M" are not allow to DRINKS alcohol but who's drinks the most ??how our business going to survive if the drinks keep raising ?? DAMN it ..

LaSh said...

Yet another blogger award!

Congrats Zewt!

:D

Twisted Heels said...

You're indeed an influence. Congrats!

Soulblade said...

congrats zewt. u deserve it.

*clap clap*

*pat on your back*

FriendfromTaiwan said...

Well done my friend , you deserve it, I have seen this blog since it started from its humble beginnings and its the only blog I constantly read from Malaysia, much better than all those other shameless self promoting blogs that do nothing but try and portray that the writer has some amazing social life when it fact they are fucking sad twats who photograph every meal they eat and camwhore everytime they buy some ugly new clothes...i have seen you grow from a hot dog to a big "lap cheung" haha Keep up the good work!

Firehorse said...

Congrats on both awards, you truly deserve it.

Anonymous said...

congrats, congrats on your two awards...

btw, read the Star today and apparently, Govt is gonna give some housing scheme incentive. hmmm, definitely the signs for the "E" is in the air...

Sunshine said...

lets wait and see what is in store for us tomorrow... hope its good news!

Hor ny Ang Moh said...

Lets hope there is really some goodies! I do hope it is no the case of 'I give u one inches today but tommorrow I will force u to pay me back by 1 feet'! I am sure u know what I meant as this is also the tactic employed in the slavery world! Have a nice weekend!

hcfoo said...

Oh, the budget is today or Saturday? Lately I'm kinda lost track with the current news. Well, I hope the gov will increase the prices for ciggies again!

I predict the gov will be very generous in this Budget since election is just around the corner.;)

me said...

atchoo ah, all i can say is.......

....eh, your timing wrong lah. your post is dated friday but you say budget released tmr 4pm. despite the fact that u were writing it on thurs night, must have matching lah. first principle they teach you in accounts lah. :-p kekeke.

j or ji said...

So malaysian lah with all the awards...later masuk Malaysian book of record for "blogger pemenang award terbanyak!"

hahaha..joking lah!

Angie Tan said...

hmmm.. one thing about the GST was that the big 4's tax dept was scrambling all over it, in anticipation of the new work.

my fren was roped into it as well but after it fell flat, she was "disappointed" with no new opportunities in tax.

so, i'd guess other than the gahmen, the big 4 accounting firms are very happy to look for the GST - i.e. more work ma = more chargeability = more $$$ in terms of courses, consultations.. :-P

sigh... yeap, like what tingtitlei said, big e is antonym of big o. hahaha

Huei said...

Congratulation on ur awardS! =D

ahh..i can't believe that there'll be no raise..simply CANNOT believe! hey, afterall, their new year is coming soon, and they need that extra *kAChiNG* right?

if they don't, after the erection, they will somehow come out with excuse to make our smoking and boozing sessions miserable, so now, who are you people gona vote (will that make a difference actually?)?

OK i should get myself registered, though i voted in ur poll that it won't make a difference, but wut the heck! i'll do anything to kick Bullshit Nation(al) out!

"Joe" who is constantly craving said...

pity me..goin to brainstorm tonite..overnight that is..sighh

Seaqueen said...

Budget eh. Yea. I'm waiting for the personal tax reduction. Hehehe!!! We'll see about that.

cibol said...

lower tax for personal one and maybe a 2 months bonus for civil servants so that I can pau extra cash from my dad. Ha ha ha .. kidding

tulipspeaks said...

no matter how 'lenient' the budget turn out to be, things will change again once the election ends. back to square one or may be even worse.


ammu.

Helen said...

GST after 'E'?

I heard people are saying E is closer than we think... More bad news ahead I guess. ;-(

Michael Song said...

2 malaysian high profile campaigns say it all...

"MALAYSIA BOLEH"!!! Tapi "TAK NAK"!!!

Michael Song said...
This comment has been removed by the author.
Maverick SM said...

With the launching of so many corridors and projects to the tune of $trillions, increase taxes is imminent. There is also the pilferages and it has to be substituted and balance-sheeted with taxes.

Terra Shield said...

GST? No way... people will die, man.

Pookyma said...

Wah lansi d got award.....

Will write more bout the porly issue soon...

Anonymous said...

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sharlydia said...

Congrats on your new award, dude!

I always feel the "pain" when it's the budget release day...coz i'm one of the tax payer and i feel the pain in the butt! Paying tax yet "cheng hoo" not doing much...sigh!

ehon said...

im soooo lazy to read larrr.. it's my stupid lab report. i suspect it killed probably 10 000 of my brain cells already. *dies!*

happy weekend!!

anigma said...

Erm.. how about reduction in stamp duty assessments for buying second hand houses ah? Got reduction or not? Now buying house leh.

alan zed said...

ciggy n alcohol confirm naik. hehe.

Anonymous said...

ok... just read the summary article...

I think the most crappy part of all is this:

- Beginning financial year 2008, public listed companies will be required to disclose their employment composition by race and gender, as well as programmes undertaken to develop domestic and Bumiputera vendors.

This is just a blatant regression to cavemanhood.

bensiu said...

Congrats congrats. Wahh... lanC case..but then you deserve it la..my days arent complete unless i read your blog....like my TheStar newspaper...hahaha

Oh Oh...update me on the budget contents..though abroad, my vote still counts, right? When is it officially?

zewt said...

tingtitlei - the big O?

maegen - well... it didnt rise though... surprisingly... so we can still enjoy our alcohol... but it's already very expensive.

LaSh - thanks :)

twisted heels - really? thanks for the compliment.

soulblade - thanks... it's all due to kind visitors here.

friendfromtaiwan - thanks thnks thanks... well, u know i can be quite vocal. let's hope my fame will not get my ass into trouble.

zewt said...

firehorse - thanks for the compliment.

anon @ 7.58am - the monthly EPF withdrawal... to boost consumption.

sunshine - apparently... i was wrong... very wrong.

hor ny - hahaha... well,the budget, according to many... was boring.

hcfoo - i made a boo boo... it's today. why... u smoke?

me - yeah la yeah la... i am wrong la... slight boo boo in timing only mah.

zewt said...

jorji - shhh... dont burst my bubble la... hahaha...

Angie Tan - they didnt implement it still... not until the E... yeah... those big 4... they are waiting to pounce i tell u!

Huei - they didnt increase sin tax though... to the surprise of many... but isnt that a clear sign of E? well... get registered quick!

constant craver joe - hahaha... i have been there.

seaqueen - didnt happen... :)

cibol - didnt happen either....not even half a month.

zewt said...

tulipspeaks - yup... you got it right there. definitely.

Helen - that is why... the budget was very 'ppl friendly'.

Michael Song - hahaha... damn true!

Maverick SM - they reduce corporate tax and didnt touch individual... some very confusing sign.

terra shield - based on the experts... it's 2009.

pookyma - not lansi la... do write... do write.

zewt said...

anon @ 3.07pm - thanks for your comment. will certainly check out that blog.

sharlydia - hahaha.. i am sure u r not alone. and the anticipated cut of individual tax didnt happen!

ehon - hahaha... take it easy.

anigma - got... got... i shall talk about it on sunday night.

alan zed - on the contrary...

anon @ 6.55pm - that was so damn racist!!

bensiu - haha... so flaterring la your words... thank you thank you... i will be talking about it on sunday night.

rinnah said...

So I'll wait for your summary of this year's Budget. LOL!

Congrats on the awards!

zewt said...

rinnah - hehe... thanks. you awarded me a few too :)