Budget 2025, What’s In It For ME?
Ekonomi Madani: Negara Makmur, Rakyat Sejahtera
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Points that Annie feels are important to individuals and businesses
1) Personal tax in 2025:
- Education and medical insurance exemption increased from RM 3000 to RM 4000
- Child care allowance includes elder care allowance for the elderly
- First-time property purchasers (SNP date is 1/1/25 – 31/12/2027) can enjoy interest relief of up to RM 5,000 – RM7,000 for 3 consecutive years
- If the annual dividend exceeds RM 100,000, Dividend Tax 2% (Except EPF, ASNB, Unit Trust, foreign Dividend Income)
- The government subsidy for I-Saraan has been increased from 15% to 20%, self-employed people must open an account!
- Starting from 2025, up to RM 1,000 can be deducted for blood test, ultrasound, mammogram and pap smear test
- Foreign Income (FSI) exemption extended until 2036
- PRS private pension fund relief extended to 2030
- SSPN Fund Relief extended to 2027
- Rationalized subsidies for RON-95 beginning mid 2025
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2) Impact on businesses in 2025:
- Minimum wage increased from RM 1500 to RM 1700
- 50 million electronic transformation subsidy (small and medium-sized enterprises who want to upgrade E-invoice system, please pay attention!)
- Capital allowances to purchase ICT equipment for E-Invoice can be fully claimed within 2 years
- Employers who implement flexible working hours can enjoy an additional 50% tax deduction
- Halal certification applicants can apply for up to 80% loan guarantee from SJPP
- Contractors of G1-G4 can get financing from SKIM CAKNA 2
- Mandatory EPF contributions for non-citizen employees
- SOCSO Incentive of RM 600/month (For 3 months) for hiring persons with disabilities and ex-convicts
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There are many more! If you want to sign up for Anne’s sharing on the 2025 fiscal budget, please sign up. Space is limited!
Reference sources, you may download them from here.
- iFAST
- Crowe
- PWC
Important: The information and opinions in this article are for general information purposes only. They should not be relied on as professional financial advice. Readers should seek independent financial advice that is customised to their specific financial objectives, situations & needs.
Published By:
Annie Wong 黄如金
Annie is a passionate trainer who was inspired by her idol to teach what she learned and to give what she earned. She has more than 10 years of experience in the field of training and SME business consulting.​
She graduated with a Bachelor in Science from Campbell University Summa cum laude (First Degree Distinction). She was awarded book prizes and Matthew Bailey Prize Award due to her distinguished academic performance. She then pursued her career switch from a Pharmaceutical Regional Manager to a Financial Consultant.
Currently, Annie is an internationally recognized Certified Financial Planner (CFP Professional) cum International Certified Professional Trainer (ICPT, IPMA, UK). She is a CMSRL Financial Planner (Licensed by Securities Commission Malaysia) and has impacted people financially. She is now one of the core trainers in the Certified Financial Coach Program and is the only accredited Color Accounting Trainer, who can train in both English and Mandarin.
