Happy 2nd Birthday GST in Malaysia

A people in Malaysia must remembered 1st April not because of the April Fool but the birthday of Goods and Services Tax (GST) that being implemented in 2015. Is it have impact in our life? In my opinion, it is give more impact to us.

So, what’s about the minister opinion? Second Finance Minister, Datuk Seri Johari Abdul Ghani said that this system has proven to be a success.

In his press statement, he said that GST has shown itself to be an efficient taxation system that has also helped curtail the black economy, which involves business dealings that are untraceable and therefore untaxable.

He said it means that those who have been evading paying taxes are no longer able to do so with ease.

Johari added that another positive result of the GST implementation has been the balancing of the government’s budget, which was affected by the drop in oil prices.

| GST ? Various Benefit |

He also pointed out that of the 173 countries which have implemented GST, none has reverted to its previous taxation system.

I don’t know if his statement is really good or not. As I’m a middle income group, I don’t see much of the main success of GST. We still can’t see any big thing effect in our life. BR1M? No, I don’t think RM500 per year could help mostly middle income group. Maybe it could help some lower income but the middle income have big problem to survive.

I don’t like to complain but still wish that GST could give positive impact to middle income group which is mostly the biggest people in Malaysia.

|  GST and its impact in Australia |

The GST need to help middle income group especially in :-

  • To help us get a property. For those lower income group, they have PPR which cost below RM45,000 but for middle income group it ain’t easy to find the house between RM60,000 – RM150,000. It is important as we can’t afford to pay more than RM1,000 monthly for loan housing.
  • Loan housing. It ain’t easy for middle income to get loan housing today as Bank Negara has restricted the rules. I know that GST don’t have relationship with Bank Negara but maybe government can setup some lending institutions that could help us.

Housing Loan

  • It is hard for us to pay toll for work everyday. GST must have a mechanism to lower the toll payment.

 

That’s some of my idea on how GST could help middle income group as we pay mostly for GST.

As former minister guarantee that the price could turn down, we just wait but that’s not happened after two years. It is still increased and some minister give some joke comment. Hopefully they could do research especially in middle income group.

Happy Birthday ‘GST’. Wish it could bring luck for us this year.

 

KUALA LUMPUR: The Goods and Services Tax (GST) will be set at zero percent beginning
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