I am sure that a lot of “SOPO” Blogs will be commenting on the Budget 2007, “It’s a election budget etc and so on.” I will not get into that.
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More importantly, How it will affect me personally? Going by the report the items that can affect me will be
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1. Education,
a. No restriction on Textbook Loan Scheme
b. Abolishment of Annual School Fee.
c. tax relief up to RM5,000 for post graduate studies
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2. Healthy Life Style,
a. tax relief up to RM300 to buy sports and exercise equipment
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3. EPF
a. able to withdraw money monthly to pay for house
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No restriction on Textbook Loan Scheme and Abolishment of Annual School Fees
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I am Married with 2 daughters with one more child on the way. Eldest daughter is the only kid in school, She is currently in Standard 3 this year in a Chinese school. Currently in her entire class only My Daughter and another kid have to buy their own Text Book. Others seem to have found ways to get around any restriction. OK that will save me RM100+ for next year.
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Tax Relief for Post Graduate Studies
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I do not intend to take up Post Graduate Studies, as it does not help me to gain a better job or wages in the industry I am in.
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Tax Relief for Sports or Exercise Equipment
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Well look like I can claim for that exercise bike my wife wanted or that pair of sport shoes, which I have no intention to purchase.
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House
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Well I have no intention of buying a house, cannot afford it yet
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It look like I have got a modest bonus next tax day and when the school reopens. The Key question is how much does it take to send a Kid to school. There seems to be a surprising amount of other “Official” Fees and other Books you have to purchase when you have a kid in school, this of course does not take into account of Tuition.
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I think I will blog on this Fees, Books and other expenses, that is if streamyx allows me to do so.
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