20080829: 29 AUGUST 2008: BUDGET DAY

My wish list drafted on 6th June this year, did not FULLY make it.

However, items # 3, 17 & 19 actually came true in line with the 

National Energy Plan

* Exemption of import duty and sales tax on solar photovoltaic system equipment, import duty and sales tax on intermediate goods such as High Efficiency Motors and insulation materials; sales tax on locally manufactured solar heating system equipment; sales tax on locally manufactured energy efficient consumers goods such as refrigerators, air-conditioners, lightings, fans and televisions; and 100% import duty and 50% excise duty on new hybrid CBU cars, with engine capacity below 2,000 cc, be given to franchise importers. This exemption is given for a period of two years to prepare for the local assembly of such cars

MY POSTING on 06 JUNE 2008.

With all the BILLIONS Saved from fuel subsidies, the following 21 policies will be introduced.

1. 50% Cuts for income tax for those with taxable income of RM 150,000 or less
2. 50% Cuts for tolls at bottleneck toll booths (E.g. Sunway) and smart tags to be tax deductible to reduce congestions at toll booths (which burns unnecessary fuel)
3. ABOLISHMENT of any import duties for all forms of HYBRID vehicles (Give me my Civic Hybrid at RM 69k!!!)
4. Zero Road tax for Hybrid and NGV vehicles
5. Reduced insurance premiums for all SAFE vehicles with 2 airbags or more and those which meet NCAP 4 star and above
6. Full income tax rebates for installation of NGV engines
7. Full income tax rebates for installation of Streamyx of 1 Mb/s and above to promote SOHO activities, thus reducing transportation requirements
8. Full income tax rebates for membership fees of health clubs to promote physical activities and healthy lifestyle
9. Full income tax rebates for installation of solar panels in all homes and business establishments
10. All housing estates to have recycling bins installed.
11. Higher road tax for vehicles 2.5 litres and above, running on petrol
12. Govt to increase medical checkup tax rebates from RM 500 to 1000 to include cancer scans and dental care
13. Govt to give tax rebates to ALL petrol stations who install NGV pumps
14. Govt to give tax rebates to ALL companies involved in solar farms and associated and related activities
15. Govt to give tax rebates to ALL developers who adopt GREEN buildings meeting global standards
16. Govt to give tax rebates to ALL developers who include LRT infrastructure with feeder bus facilities in their new township developments (E.g. ALL Singapore HDB Towns!)
17. Govt to give tax rebates to ALL companies dealing in R&D in Biofuels & Solar technologies
18. Govt to convert and upgrade all current diesel supplies to meet EURO4 standards
19. Govt to proceed with Damansara and Puchong LRT extensions
20. Govt to sign MoU with Singapore Road transport authority to implement their advanced transportation system (which is about 20 years ahead of ours!) - to further study upgrade from LRT to MRT status
21. Govt to ban FOOD wastage from shopping malls and hotels who throw away food not sold at end of day. E.g. Jusco and 5 star hotels that have lavish buffets. Food to be distributed to all staff FOC to reduce food price burden.

Let's see what happens!

FOOD FOR THOUGHT: Petrol prices in Singapore and HK are higher than here, but they are more productive economically! WHY? Anyone care to comment and debate?