FORMER Finance Minister Lim Guan Eng has proposed that the income limit for the T15 group, which will be excluded from receiving targeted RON95 subsidies, should be set at RM15,000 per month, reported the New Straits Times.
"Can the Finance Ministry provide details on the proposed tax increases to give us a clearer understanding of the taxation landscape?
"For the T15 group, the monthly income limit for targeted RON95 subsidies should reflect a fair living wage and be set inclusively at RM15,000 per month," the Bagan member of parliament said while debating the Supply Bill 2025 in the Dewan Rakyat today.
During the 2025 Budget announcement on Friday, Prime Minister Datuk Seri Anwar Ibrahim said that subsidies would be gradually reduced for the T15 group.
He said the savings will be directed towards improving infrastructure for boarding schools and public universities.
On the government's proposal to require all foreign workers in Malaysia to contribute to the Employees Provident Fund (EPF), Lim proposed that the 24 per cent contribution from both workers and employers could serve as an "offset" to cover any fines, penalties, or losses incurred by employers due to foreign workers' offences or acts of sabotage.
"Employers face significant losses when they feel 'betrayed' by foreign workers after making substantial levy payments. If this offset is not permissible under International Labour Organisation (ILO) regulations, South Korea's model of using an insurance payment system as a substitute for EPF contributions could be considered," he added. - October 22, 2024
