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Key Points from Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz’s 2021 Budget Speech
* The government pledged to continue with the high-speed train project, also announced RM3.8b of new transportation infrastructure works.
* EPF will continue the development of Kwasa Damansara with a gross development value of RM50b. This will include commercial, residential, social, innovation center and medical infrastructure.
* Top Glove, Hartalega
, Supermax and Kossan commit to provide a total of RM400m to combat Covid-19 and the cost of using the vaccine
* The government allocates RM400m to help FELDA settlers to meet the loan interest and for the new income development program
* RM2.7bil allocated for rural infrastructure development
* RM400mil to help FELDA settlers resolve their debts
* Exemption from stamp duty for the purchase of the first house
* RM7.4b to expand broadband services in 2021 to 2022
* RM500m for National Digital Netowrk JENDELA
* EPF allows withdrawal of Account 2 for the purchase of life insurance and takaful protection products and for critical illnesses
* RM500 can be withdrawn monthly from EPF 1 account up to RM6,000 within 12 months
* Minimum contribution to EPF for employees is reduced to 9% as of January 2021
* EPF taxpayers will be able to withdraw RM500 per month from their Account 1, up to a total of RM6,000 per year
* Covid-19 Fund raised to RM65b to cover additional assistance under the KITA PRIHATIN package
* Tax relief increased to RM8,000 for parental medical, special needs and care expenses
* Single people earning RM2,500 and less to receive RM350, eligibility reduced to 21 years from the above 40
* RM1b allocated in 2021 to contain the third wave of COVID-19, in addition to RM1.8b allocated this year: Bernama
* Maximum tax relief for medical expenses of individuals, spouses and children for serious medical ailments raised to RM8,000
* The government agreed to a one-time payment of RM 500 for front-line workers in managing the Covid-19 pandemic
* By 2021, the government said it will allocate RM1bil more to combat the third wave of the Covid-19 pandemic.
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