Exciting News for Traders! 

We have some exciting updates regarding brokerage fees in the 2024 Budget.

In a recent development, brokerage fees for trading shares listed on the stock exchange have been EXEMPTED from the sales and service tax (SST) hike that was initially proposed. This exemption will continue, ensuring that trading remains affordable and accessible for retail investors.

Under the 2022 Budget, brokering services received a service tax exemption to keep the Malaysian stock market competitive. As a result, since January 1, 2022, brokerage service providers have not been subject to the applicable 6% service tax. It seemed this might change when the 2024 Budget was announced with plans to increase the SST rate to 8%, extending it to cover brokerage firms. However, we're delighted to inform you that Bursa Malaysia Securities has clarified that the SST exemption for brokerage fees for share trading will remain in place.

This decision reflects the government's commitment to making share trading more accessible and affordable for retail investors while boosting market activity. While there will be an increase in SST, the impact on retail investors is expected to be minimal.

This comes in tandem with the recent introduction of fractional shares in the Malaysian capital market, aimed at encouraging stock market participation, especially among young investors.

So, investors, keep trading with confidence! 

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