"34.In 2015, with the implementation of the Goods and Services Tax (GST)
Government revenue is estimated at RM23.2 billion. However, as a caring Government, we have exempted several goods from GST amounting to RM3.8 billion.
35. With the implementation of GST, the Sales and Services Tax (SST), will be abolished resulting in revenue foregone of RM13.8 billion. This means that after deducting RM13.8 billion and RM3.8 billion from a revenue of RM23.2 billion, the Government will have a balance of RM5.6 billion.
36. Of the total, RM4.9 billion is channelled back to the rakyat through assistance programmes such as the increase in Bantuan Rakyat 1Malaysia (BR1M). Finally, net revenue collection from GST will only amount to RM690 million."
"71.The experience of other countries has shown that a key critical factor in the succesful implementation of GST is the level of readiness by businesses. To assist businesses, the following incentives and assistance will be provided:
First: Training grant of RM100 million provided to businesses for their employees to attend GST courses;
Second: Financial assistance amounting to RM150 million provided to SMEs for the purchase of accounting software;
Third: Accelerated Capital Allowance on purchase of ICT equipment and software; and
Fourth: Expenses incurred for training in accounting and ICT relating to GST will be given additional tax deduction."
this was a slumbering GST counter at 47sen when IFCA in the 20s made its eye-catching ascent. only much later did CENSOF move, through the impetus of a 1:4 free warrant offer. I exited at 64.5 before the EXdate. After EX, it went only as low as 56 I believe. It re-lifted past 60 a day before Budget 2015, perhaps with a little help from the timing of the Asian Business Solns JV. Both the warrant and JV were "managed" events in my personal opinion.
Censof main customer is Government. Government mean strong, solid & very stable in term of payment. Revenue is guarantee. With recent budget announcement of additional allocation for GST software & training is a big boost for Censof Revenue. Censof have hundred over key government-related agencies and ministries (see this link). This made Censof busy enough. http://www.censof.com/csb/uat/page/view/article/95/censof-government/148.html
With all these will made Censof very very busy. Censof can't do everything by himself. Joint Venture with ABBS (Asian Business Software Solutions) to distribute MYOB GST software is a timely matter. Let this ABBS partner run the balance of show to tap private sector. MYOB software products are GST approved and is the leading provider of business systems to over a million businesses in Malaysia, Singapore, Hong Kong, Australia, New Zealand and across Asia.
Last minute GST training & last minute GST software purchase is part of Malaysia culture. But this is an opportunity for Censof!
Time to top up Censof stock before other Fund Manager buying for their new 2015 portfolio.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Lucifer178
143 posts
Posted by Lucifer178 > 2014-10-10 15:50 | Report Abuse
GST deferred...?