How does the Permai stimulus benefit Malaysian?

Our Prime Minister has announced additional stimulus package named “Permai Stimulus Package”. As mentioned in the article above, there are 3 main objectives. While some of them are to help businesses and increase the healthcare workers and protective measures such as protective equipment and vaccination. Public can also benefit from the following ways:-

For individuals

1. Entitle for tax relief for full health screening expenses expanded to include Covid-19 screening, tax relief amount increases from RM 500 to RM1000.
2. Extra Bantuan Prihatin Nasional Phase 2 (BPN 2.0) disbursement for households earning income less than RM 5,000 per month starting from Jan 21 (family RM 300 each and single RM 150 each)
3. Bank will continue to offer moratorium extension and restructuring of loan repayment
4. EPF will provide advance of up to RM 1,000 from amount applied under i-Sinar Category 2 facility. The withdrawal process under Category 2 has also been simplified as members only need to provide a self-declaration that they meet the prescribed criteria and submit supporting documents online.
5. Special tax relief of up to RM 2,500 on purchase of mobile phones, computers and tablets to be extended till end of 2021.
6. Provision of 1 GB data for educational purposes extended until end of April 2021
7. PTPTN loan repayment moratorium for 3 months for borrowers affected by COVID 19 or floods, with applications to be made up to March 31, 2021.
8. Special allowance for certain occupations: –
9. One-off provision of RM 500 to healthcare frontliners, and RM 300 to other frontliners in the first quarter of this year
10. Existing special monthly allowance of RM 600 to healthcare frontliners and RM 200 to other frontliners will continue until the pandemic ends
    1. One off RM500 aid to 14,000 tourist guides and 118,000 drivers of taxis, school buses, tour buses, rental cars and e-hailing vehicles.
    1. RM24 mil allocation to fund the full contribution under Socso’s Self-Employment Social Security Scheme for delivery riders
11.  Rules will be relaxed for those who lost their jobs to apply for the Employment Insurance Scheme (EIS)
12. Electricity rebates for domestic and non-domestic users at a rate of 2 sen per kilowatt-hour, from Jan 1 to June 30.
13. Sales tax exemption for locally assembled and imported passenger vehicles until Dec 31

SMEs

• The Wage Subsidy Programme 3.0 is enhanced, where for one month, eligible employers will receive a wage subsidy of RM600 for each employee earning less than RM4,000. In addition, the wage subsidy limit of 200 employees for each employer will be increased to 500 employees.
• Prihatin Special Grant Plus to now cover 500,000 SMEs in MCO states (RM 1,000 each) and 300,000 SMEs in other states (RM 500 each).
• Special discount of 10% on electricity bills from Jan to March 2021 to 6 business sectors; hotel operators, theme parks, convention centres, shopping malls, local airline offices as well as travel and tour agencies.
• The government will also expedite the implementation of microcredit schemes including soft loans amounting to RM390 million by Bank Simpanan Nasional, RM350 million by Agrobank and RM295 million by TEKUN.
• The Danajamin PRIHATIN Guarantee Scheme will be enhanced, with the maximum financing limit of RM500 million to be increased to RM1 billion and the scope of financing to include working capital with a guarantee period of up to 10 years. The scheme is also now open to foreign-owned companies operating in Malaysia as long as Malaysians make up at least 75% of their workforce.
• The special tax deduction given to companies that provide at least a 30% reduction of rental on business premises to SMEs will also be expanded to include non-SMEs and extended until June 2021.
• The Human Resources Development Fund will also exempt the employer levy for companies that are unable to operate during the MCO and CMCO periods.

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