Assume monthly basic salary is RM4000.
- If your monthly EPF contribution is 11% ( RM440 ), taxable income =
RM3560, income tax payable = RM77.
- If your monthly EPF contribution is 8% ( RM320 ), taxable income =
RM3680, income tax payable = RM109.
Conclusion : If you choose to contribute 8%, you will end up paying more
income tax to the government,
which will make the government richer. Finance Minister
Najib said this measure is meant
to boost up the slow-down market, but from this example
we see that the money does not
go into the market. Instead the money goes direct into
the government's pocket through
the greater amount of income tax that we will have to
pay. Obviously this measure does not
help the market at all. And, this could save the
interest borne by EPF & government(BN/umno) could get more money from
tax-payers' blood money to channel into
their crony companies that suffering financial crisis....!!
Do we still want this kind of government(BN/umno) that doesn't have the
best interest of the people in mind?
