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Budget 2027: Individual tax relief increases to RM12k
The budget also cuts rates for middle-income taxpayers and MSMEs, with savings of up to RM1,600 for 5 million people and RM6,000 for 300,000 businesses.
- On Friday, Prime Minister Datuk Seri Anwar Ibrahim tabled the RM459.8 billion Budget 2027 in Parliament, allocating over RM80 billion for subsidies, assistance, and incentives.
- Rising global oil prices and fiscal pressures prompted the government to unveil tax relief measures and wage hikes aimed at boosting household incomes and supporting small businesses ahead of potential national polls.
- New measures include raising the minimum wage to RM2,000 starting June 2027, while individual tax relief increases from RM9,000 to RM12,000 and Sumbangan Tunai Rahmah allocations rise to RM16 billion.
- Students and first-time homebuyers receive targeted support: Form Six students get RM2,500 allowances, while homebuyers enjoy full stamp duty exemptions on properties priced up to RM500,000.
- The government forecasts the fiscal deficit will narrow to 3.3 per cent of GDP in 2027, maintaining medium-term consolidation while analysts view the budget as striking a pragmatic balance between growth and fiscal discipline.
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Budget 2027: Individual tax relief rises to RM12,000, income tax percentage lowered
KUALA LUMPUR, Oct 9 — The government will increase individual income tax relief from RM9,000 to RM12,000 and reduce tax rates for selected income brackets under Budget 2027.Prime...
·Petaling Jaya, Malaysia
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Peruntukan itu termasuk subsidi bahan api from RM40 billion to bantuan Jabatan Kebajikan Maslamakat hampir RM3.3 billion.
·Petaling Jaya, Malaysia
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Coverage Details
Total News Sources22
Leaning Left1Leaning Right5Center0Last UpdatedBias Distribution83% Right
Bias Distribution
- 83% of the sources lean Right
83% Right
L 17%
R 83%
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