Highlights of Budget 2010/2011

Scrapping of 10% sales tax on mobile phones, effective Oct 15, 2010

5pct service tax on all services increased to 6%, effective Jan 1, 2011

Proposed stamp duty exemption of 50% be given on instruments of transfer of residential PROPERTIES [], not exceeding RM350,000 from Jan 1, 2011. S&P must be executed between Jan 1, 2011 to Dec 31, 2012.

Stamp duty exemption of 50% be given on loan agreements for residential property priced not exceeding RM350,000.

Service tax of 6% be imposed on paid broadcasting television services, starting Jan 1, 2011. Charge on monthly subscription fees.

Warisan Merdeka, a 100-storey tower costing RM5 billion will be completed in 2015.

The EPF to undertake development of the RM10 billion Sungai Buloh project.

Govt to start private pension fund in 2011

Govt allocates RM857m for tech projects in Kedah, Penang

Mass Rapid Transit in Greater KL to be implemented 2011, estimated private sector investment RM40b, completed by 2020

GLICs allowed to up investments overseas. EPF now at 7pct, allowed to increase to 20pct

SC to offer 3 new stockbroking licences to eligible local, foreign, or JV companies