HIGHLIGHT OF 2ND ECONOMIC STIMULUS PACKAGE

Highlight below the strategy that affect the general worker/businessman

1. Tax

• Double deduction of remuneration
• Increase tax exempted income of retrenchment benefits
• Accelerated Capital Allowance - plant and machinery and renovation
• Carry back of losses
• Levy on foreign worker
• Housing interest deduction

 

2. Cash flow

• Government saving bond
• Exemption/reduction in HDRF contribution

 

3. Finance

• Working capital guarantee scheme
• Industry restructuring loan guarantee scheme