Malaysia Budget 2014 Review – GST, Cost of Living, BR1M etc

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The Malaysia Budget 2014 was tabled on 25 October 2013 by the Finance Minister (and Prime Minister) of Malaysia, Najib Tun Razak. It’s contents were widely anticipated by both the discerning public and the press, and here at SaveMoney.my we are thrilled to be able to give you the lowdown on what the Malaysia Budget 2014 means for you.

budget 2014

What is the Malaysia Budget 2014?

Every year (in September or October), the Finance Minister will present a report on the Malaysia’s finances, as well as certain fiscal (spending) policies that the government intends to undertake in the next year (so the Malaysia Budget 2014 is to tabled in October 2013 and spells out how the government will change any tax and spending policies for the year 2014.

For a full rundown of the Malaysia Budget 2013, check out our full summary last year here.

How does the Malaysia Budget 2014 affect me?

As always, most items in the budget are related to spending at the national level, with portions for development, healthcare, education, defense and more. Having said that, most consumers generally look for items which directly affect their everyday lives, such as handouts, tax changes, subsidy rationalisation and other consumer related items. At SaveMoney.my we’ll focus on those items in our review.

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