Apply online for new tax prefix code tomorrow
An exercise to allow more categories of taxpayers to register for their income tax number through e-Daftar as well as changing the prefix of individual taxpayers (from SG and OG to IG) will start tomorrow. The Inland Revenue Board (LHDN) said the registration of income tax numbers for taxpayers in the categories of Cooperative Society (CS), Association (F), Trust Body (TA), Unit or Real Property Trust (TC), Business Trust (TN) and Real Estate Investment Trust/Property Trust Fund (TR) could be carried out online via e-Daftar through the link https://edaftar.hasil.gov.my/. At the moment, e-Daftar was limited to taxpayer categories such as SG and OG, Companies (C), Partnership (D), Employer (E) and Limited Liability Partnership (PT). “The process of setting the new prefix will involve two phases, namely phase one for new individual taxpayers registered through LHDN’s system. Phase two will involve changing the prefix of existing individual taxpayers in stages,” it said. LHDN said changing the prefix would not involve any changes to the taxpayer’s existing individual income tax number. The deadline for submission of return forms for individuals is on April 30 each year for individuals who do not carry out business and June 30 each year for individuals with a business. (The Star)
Developers and buyers cautious due to uncertain market and loan delays
The property outlook in Johor for the second half of this year remains uncertain. Rehda Johor chairman Wong Boon Lang said its members should be prepared to face a drop in revenue. He said the pandemic was likely to be around for the next two to five years. “There are also uncertainties in Malaysia with the third round of the movement control order nationwide until June 7.” Wong believes that those intending to buy residential properties might put their plans on hold. “Banks are also becoming more stringent in approving housing loans due to the weak market.” Although there are investors with money to spend, the number is small. Other challenges facing developers include the increase in steel prices and shortage of workers in the construction industry. There have been hardly any new property launches in Johor, especially Iskandar Malaysia, due to the unfavourable conditions. “Our members have been very careful about new launches and will likely remain cautious over the next couple of years,” he added. (The Star)
Protect Selangor’s environment with TODs, says state exco
A vertical development model, which focuses on high-rise buildings, will provide a better living quality and help preserve jungles. However, Selangor executive councillor (exco) Ng Sze Han said people’s lifestyle, mindset and appetite demand state governments to continue opening green lungs for future development, mainly houses. Ng, who is in charge of Selangor’s local councils, public transport and new village development, said living and working in a high-density area are always linked to heavy congestion and lack of amenities. He said the shift to a vertical development, namely the concept of transit-oriented development (TOD), is critical and examples can be seen in developed countries like Singapore and Hong Kong. Ng said Selangor, where public transport use is a bit higher than the national rate, should emulate how Singapore plans its town development. KL Sentral is the only true TOD concept in Malaysia which centralises all public transportation modes, especially railways, next to offices. In Selangor, Ng said several local councils are drafting their town planning policy, among others, to continue encouraging TODs for the next 15 years. As of now, Ng noted that not a single area in Selangor has reached a successful TOD status. (The Malaysian Reserve)
Cagamas to launch reverse mortgage scheme
Cagamas Bhd, the National Mortgage Corporation of Malaysia, plans to unveil a reverse mortgage scheme this year to offer financial assistance to the retirees, reported The Star. Citing Cagamas Bhd president and chief executive officer Datuk Chung Chee Leong, the reverse mortgage scheme enables an elderly homeowner to obtain a loan using the property as a collateral to receive a monthly disbursement which they could use as their daily expenses. During the period, the elderly could still stay in the property. The repayment of the loan and interest will begin after the elderly passed away or when they decided to sell the house. If the proceeds from the sale of the house are more than the borrowing amount, the balance will be given back to the owner’s heirs. However, if the proceeds are less than the borrowing amount, the losses will be borne by the guarantor of this scheme – Cagamas. He stressed that the scheme is designed to help the elderly who are looking for more financial assistance to improve their standard of living, this shouldn’t be seen as a measure to drive the property market. (The Edge)
Sungai Buloh Hospital prepares makeshift morgue using container as Covid-19 fatalities increase
As a grim reminder of the worsening Covid-19 situation in the country, the Ministry of Health (MOH) shared that the Sungai Buloh Hospital is now forced to prepare a morgue container on-site to house bodies of dead Covid-19 patients. The MOH’s post revealed how the hospital’s forensic medicine department was forced to resort to such a solution, as an additional morgue. More than 80% of deaths from Covid-19 infection in this country is made up of the elderly and those who have more than one chronic disease or are comorbid. Setting up of temporary morgues has become common in several countries badly hit by the Covid-19 pandemic such as United Kingdom, United States and India. (Malay Mail)
