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!