What is the Malaysian Budget 2013?
The Malaysian Budget 2013 is essentially a report on the nations finances, the usual things include how much the government is expected to make in taxes and other things on one side (government revenue) and how much it intends to spend in projects and initiatives (government expenditure), with policy changes including income tax reductions/increases, duties, concessions, handouts to the poor and needy etc. thrown in to keep the public interested.
Why does it matter? Policy changes such as tax reliefs/rebates on various things like cars, broadband, smartphones(!), and personal reliefs will directly affect your wallet and the amount of Money you can Save! Taking the government of the day and political motives out of the equation, SaveMoney.my will look at how the announcement may affect your own personal finances and expenditure!
For the full analysis on Malaysian Personal Income Taxes, you may check out our Malaysia Personal Income Tax Guide 2012 article.
How does the Budget 2013 Affect Me?
While the majority of the budget encompasses high level items such as multi-million (and billion) Ringgit investment in various industries and services which affect Malaysians indirectly (and some directly), we will focus on the aspects of the Budget that are mentioned explicitly to help Malaysians Save Money.