Sometimes I think the more you earn.. then the more you spend.. because you are able to earn more.. so you will give a more good quality life to your family.. so of course you will felt that your money is not enough..
Not only in Malaysia but also the rest of the world too. Previously I saw a report saying that the top 10 most richest person in this world.. all their wealth combine are even more than the rest of the people in the world.. so the most richest people will continue to build up their wealth and become even more rich.
A)From my understanding, 1. company's profit consist of Gross Profit, Net profit before tax and Profit after Tax. Company can only declare Dividend after paying tax. 2. there is a marginal difference of 4% for corporate tax rate (24%) vs individual tax rate (highest 28%) . So those owners of private companies which able to make more than 1.5m net profit after tax will prefer Dividend instead of getting director fees. so the right move for 2025 budget is either raise the corporate tax rate to 28% or lower down the highest bracket rate of individual to 24%. Instead of imposing 2% additional tax of dividend received for more than $100000 ( this create tax the same profit twice), By doing so, it violet the framework of IRD collect tax unfairly. B)To be fare to every rich citizen of Malaysia , why Finance Minster give exemption to ASB shareholders, obviously it shows discrimination to non for doing so.
it is reasonable to pay a dividend tax if above 100k dividend for 100% own private company, because the owner can declare salary for himself. The owner does not want to declare salary for himself, because he does not want to pay personal income tax
do retire people/60 years old people above got dividend tax kah? if this group old man retire group got dividend tax, mati lah this old man. RM100000/12 months=RM8333. this RM8333 where got enough for old retire man which still pay house loan, car loan , children expenses including university fee and etc.......
Regardless the intention, double taxing the same income is wrong and unfair, If doing wrong thin can be justified with intention, then there is no need for law to exists
