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Prime Minister Tan Sri Muhyiddin Yassin announced today the RM35 billion Short-term Economic Recovery Plan (PENJANA).
In the extensive stimulus plan to aid Malaysia’s ailing economy during the pandemic, here’s some perks for Malaysians.
RM30 public transportation pass
The government is introducing MY30, a RM30 monthly public transport pass with unlimited travel for Prasarana services in Klang Valley.
The goal to reduce transportation costs for commuters beginning mid-June until end of December 2020.
Free internet, sort of
While the previous PRIHATIN stimulus aid gave Malaysians free internet throughout the Movement Control Order (MCO) period, the PENJANA internet aid is a little more conservative.
Malaysians will get free 1GB internet for use between 8am and 6pm for educational websites, video conferencing applications and news by participating telecommunication companies.
Additionally, all users will have unlimited access to government websites as well as government Covid-19 applications, specifically mySejahtera.
RM50 e-wallet credit
To encourage more Malaysians to use contactless payment systems, an RM50 will be credited into the e-wallets of users.
The RM50 e-wallet credit is matched with a discount and cashback vouchers of RM50 from the e-wallet companies beginning July 2020.
This is applicable to all Malaysians aged 18 and above who earn less than RM100,000 annually, which is around RM8,300 a month.
Work from home incentives
To encourage the implementation of work from home, the government will provide tax incentives as well as job insurance protection.
The Social Security Organisation (SOSCO) will provide coverage for workers involved in accidents while working at home under the Employment Injury Scheme.
Income tax exemption of up to RM5,000 is given to employees who receive benefits in the form of a cell phone, laptop or tablet from the employer. This is effective from 1st July onwards.
Special individual income tax relief up to RM2,500 is also provided for the purchase of
handphone, notebook and tablet effective 1st June 2020.
Online shopping incentive
The government will collaborate with private companies to run a “Shop Malaysia Online” campaign to encourage online shopping. Promotional codes and various discount vouchers will be provided through the e-commerce platform.
For this campaign, the government will allocate RM70 million to be matched by e-commerce platforms.
The campaign will run from August to September 2020.
RM300 for single mums & people with disabilities
Single mothers and those with disabilities (OKU) registered with the Social Welfare Department will receive a one-off RM300 cash assistance.
No specific date is given for the distribution, but Muhyddin states that it will hopefully be before Hari Raya Aidiladha at the end of July.
Tax exemption for car purchases
To stimulate the automotive sector and provide financial relief to car buyers, the government is providing tax incentives for the purchasing of passenger cars.
There will be full sales tax exemption on locally assembled cars and 50% sales tax exemption on imported cars from mid-June until the end of December 2020.
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