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“I am relieved that the government has allowed us to withdraw money from Account 1 of our Employee Provident Fund (EPF). I sell flowers and cookies from home to earn a living while my husband works in Singapore.
My business was severely affected due to Covid-19 and my husband was unable to return as much money as he used to, as he now has to pay additional expenses due to the border closure.
She used to travel back and forth between Johor and Singapore every day, but now she has no choice but to stay in Singapore where she has to shell out extra money for rent there, as well as for her basic daily needs.
It depends on my sales here for my five children who are between 14 and 24 years old. Three of them are in school and two are still looking for work. The EPF money really helps to ease our burden, but I’ve made it a point to only take it out when we’re desperate. ” S. Sumathi, 47 years old, merchant
“I am relieved that the government is allowing us to withdraw money from our EPF Account 1 as it becomes a safety net for my family in case my husband or I lose our job or receive an unpaid leave.
It ensures that we still have some money to put food on the table, especially for our children. As it is currently a time of uncertainty, I think it is important that we have a backup plan for any type of financial emergency ”. – Masrah Marsinda, 32, Director of Human Resources
“The monthly travel pass at RM30 (My30) is worth it. Previously it was sold for RM100. With the My30 travel pass, if I follow my normal route to work or other places, it only costs RM1 per transport per day.
Even if I have to take Grabcar several times a month, it is much cheaper than keeping a car and having to pay for parking. “- Grace Lai, 25, financial advisor
“The salary subsidy of RM 600 will help operators in the tourism industry. It may not sound like that much, but every detail counts, especially during the pandemic that has hit the industry badly. For the industry to recover, more efforts need to be made in the future. Hopefully, things will improve and the government will offer more initiatives such as handing out travel vouchers or raffles to boost domestic travel. ” – Jimmy Goh, 58, tour agency operator
“The 1% reduction in income tax and the reduction of the EPF statutory contribution will certainly help groups in M40 like me with more disposable income.
There are many who have lost their jobs and are experiencing pay cuts and some are living “hand to mouth” due to the pandemic. All of these people need more cash and the reduction in contributions to the EPF will also be of great help to the B40 group, as they are the most affected.
However, it will be good for the government to make the 11% contribution mandatory when the situation improves, as the money from the retirement fund is necessary for the future. “- Mohd Hazim Abdul Manaf, 25, engineer
“Buying a house has always been my dream and Budget 2021 could not have come at a better time. I am looking for a property between RM400,000 and RM500,000 and the stamp duty exemption is certainly welcome as I would be saving considerable La Buying a property is expensive and I’m sure I wouldn’t be able to get a real estate and just a condo and even though I’ve been working for just a little over a year, I have time to look around as the exemption is valid until the 31st December 2020.
I am a bank employee and I will pay lower interest on my home loan and, along with the exemption, it will certainly put some money in my hands that I could use to renovate or buy furniture and accessories for my house. ” – Elena James, 24, bank executive
“I am grateful for the cash donation under the Bantuan Prihatin Rakyat (BPR). The previous cash donations I had received from the government really helped my husband and me through difficult times. It may not be much, but it has helped us significantly to make sure we have enough to go, especially since my husband’s business is not doing well due to the pandemic. We were also able to keep a portion of the money we have previously received as savings. ” Nurul Aisha Mohd Yusoff, 33, Management Assistant
“RM180 internet subscriptions and withdrawal of EPF from Account 2 to purchase life insurance, critical illness coverage, and takaful will help ease my monthly expenses. I also believe that the budget is completely modified for the well-being of all and no one is left behind, from the benefits of the EPF to the purchasing power, it gives us the opportunity to stabilize the economy after the pandemic. I think the budget is really made for the people ”. – Nobodyya Azmin, 26, executive
“Cash assistance under Perikatan Nasional’s Bantuan Prihatin Rakyat has been extended to single people 21 and over and I am happy to be eligible for financial assistance this time. I am in the B40 income group and I think this initiative will help me have extra money to spare in case of emergencies or to help me buy my daily necessities ”. – Normasaidatul Fasihah Mohd, 29, Document Controller and Planner
“The allocation for social enterprises under the Budget 2021 demonstrates the government’s serious effort to develop Malaysia’s social entrepreneurship, which also translates into its support of entrepreneurs’ initiatives to improve socio-economic well-being and community building. As a social entrepreneur, this assistance would help us elevate and shift our focus on the path of resilience and business continuity.
In this sense, I cannot be happier when the government announced this aid in the Budget. It means that the government is listening to our voices, social entrepreneurs, even more so, in unexplored times like these ”. – Ganesh Muren, 29, founder and CEO of Saora Industries
“What attracted me most to Budget 2021 is the 1% reduction in personal income tax. It is a great relief. The e-Wallet incentive was also good, targeting young people between the ages of 18 and 20 who are mostly studying or just started working. If it is given to all, it would be better since the M40 group is the one that spends the most. The budget this time was mainly for the B40 group who are suffering due to the pandemic, but I fully understand the government’s goal in helping them. – Kester Hok, 35, executive
“Allowing the public to withdraw from EPF Account 1 provides an additional input to monthly income. Cash is best during this unpredictable pandemic situation and could also be used for the near future or to help others who have fewer resources. However, I would advise people to try not to jeopardize EPF investments until it is the last resort. The public should try to use EPF money within adjustable reserves in cash flow. “- Dr. Chu Bee Sin, 41, Veterinarian
“I fully support the pneumococcal vaccination program for children that will continue in the budget, as it is beneficial for me, as a mother, to get an additional vaccine for my children. Also, the full exemption from stamp duty for the purchase of the first home below RM500,000 is definitely good news for me and my family as we are planning to buy our own home next year. “- Nur Sabrina Juana, 24, mother of two
“The extension of specific assistance in the payment of bank loans for both individuals and companies is a good measure because it focuses on helping those in need without affecting the cash flow of banks to offer new loans and promote economic growth. The various financing initiatives for SMEs are also helpful. The government should limit which industries can apply so that SMEs that are not affected do not take advantage of the low interest rate and exhaust the quota ”. – Christine Koh, 37, accountant
“All the financial aid has been a great help to my family and me, but the Bantuan Prihatin Rakyat is seen as timely as the pandemic has slowly taken its toll on all of us. We were not affected at the beginning of the pandemic, but now we are seeing the effects due to the worsening economy and investments that are also affected. The aid is used primarily for food, bills, gasoline, essential car maintenance, and the Internet. I also look forward to the JENDELA initiative in the field of digital connectivity, as I believe that connectivity problems should be improved. “- Nur Aishah Abd Hakim, 24, self-employed
“For a recent graduate like me, finding a job during these difficult times is very difficult. I look forward to the implementation of the recruitment initiative that the government has introduced through the JanaKerja Scheme that would provide more than 500,000 job opportunities. Furthermore, financial assistance through Bantuan Prihatin Rakyat (BPR) will also help my parents to support their small business that they started in June to cope with the economic recession due to Covid-19. “- Sharelynn Lonza, 24, recently graduated
“I am relieved to learn that the government has allocated funding for pneumococcal vaccine for children because, from what I have read, many of these infections can be serious and deadly. As new parents, my husband and I want the best medical care for our daughter and we will definitely be on board the pneumococcal vaccination program because vaccination is the first line of defense. As for the 1,000 RM tax break for people to get vaccinated against infectious diseases, this is a good measure because, how can we see in this pandemic, health is wealth ”. Amira Mohammad, 27, executive
“The 2021 budget is a sign that the government is serious about food safety and improving the food supply chain in the country. The current demand for food was not the same as 30 years ago, where a hectare of land could feed five. Now, one hectare ha to feed 20 people. Funds for farmers would help the farming community affected by the Covid-19 pandemic. ” – Cheng Tai Hoe, President of the Yong Peng Vegetable Farmers Association
“The additional tax relief on medical expenses and parental treatment helps. My mother is getting older, and in this time of Covid-19, it is an added relief. We usually go to public hospitals, so it should be enough to cover It is a good measure of the government to extend the 3,000 ringgit tax relief on contributions to the Private Retirement Plan until 2025. ” – Daniel Lee, 31, financial advisor
“Targeted pay assistance is actually a good tool where many workers are losing jobs and facing pay cuts. People have suffered from Covid-19 both directly and indirectly, and I believe that payment assistance can help many. Compared to the previous general moratorium, assistance can be tailored specifically to people’s needs. “- Shoban Rau Kistarau, 26, personal financial advisor
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