Kuala Lumpur – Following are the highlights of Budget 2021 tabled in Dewan Rakyat today by Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz.
The budget is themed ‘Teguh Kita, Menang Bersama’ (Our Resilience, Our Collective Victory)
- RM1 billion to be allocated in 2021 to contain the third wave of COVID-19, which is additional to RM1.8 billion allocated in 2020
- RM500 one-off allowance for Ministry of Health frontliners
- Tax relief increased to RM8,000 for parents’ medical, special needs and care expenses
- Aid for disabled people unable to work increased from RM250 to RM300
- Disabled workers allowance increased to RM450
- Employees minimum EPF contribution reduced to 9 per cent from January 2021
- Bantuan Sara Hidup aid package replaced with Bantuan Prihatin Rakyat with better rate and income categories
- RM500 can be withdrawn monthly from EPF Account 1 up to RM6,000 within 12 months.
- Households with monthly income below RM2,500 with at least one child to receive RM1,200 under Bantuan Prihatin Rakyat (BPR)
- BPR to benefit 8.1 million people with allocation of RM6.5 billion
- Rubber Productivity Incentive doubled to RM300 million to stabilise income of 150,000 smallholders
- Fishermen’s cost of living allowance raised to RM300
- RM3.7 billion allocation under Janakerja, aimed to create 500,000 new jobs
- Formation of National Employment Council to coordinate initiatives to create job opportunities, upskilling and trainings
- Education fees tax relief scope expanded to include course expenses.