After the new parties’ governance the country, there were a lot of news, announcements and policies updated every day.
Today, we are here to enlighten you about what will happen in this amazing July~
1) Bank Negara Malaysia’s (BNM) free instant transfer policy
The central bank announced that the Instant Transfer fee of RM0.50 will be waived for transactions up to RM5,000 made by individuals as well as small and medium enterprises (SMEs) beginning 1 July.
The move is part of BNM’s efforts to facilitate cashless payment systems. It’s convenience and save time from now onwards!
2) Employees Provident Fund (EPF) – Flexible Voluntary Contribution
The Employees Provident Fund (EPF) announced that members who contribute voluntarily to their EPF accounts, can now do so in any amount, as the requirement to contribute a minimum RM50 at any one time is abolished! Members can done either through the 1Malaysia Retirement Scheme (SP1M), Self-Contribution or the Top-Up Savings Contribution.
However, please do not forget you still need to pay the 11% income tax to your personal EPF account.
3) Deadline for e-Filing or e-B Form has extended
The Inland Revenue Board (IRB) has extended the deadline to July 15 for individuals who filing their tax returns online. The extension is only applicable for BE forms filed via e-Filing or e-B Form.
However, it said that BE category taxpayers, who are filing their forms MANUALLY, must done their submission over the counter by deadline June 30. No extension will be given.
4) Selangor pays for parking via app starting July 1
Selangor government officially launched a new parking payment app ‘Smart Selangor Parking’ across five local councils (Shah Alam, Ampang Jaya, Sepang, Kajang, Selayang) in the state on July 1.
The app only requires users to key in the street name where the car is parked, and they can pay or top up from wherever they are.
The app will also alert users when the parking time limit is up so they can extend the hours.
Furthermore, Selangor government plan to integrate the system with other local councils by next year 2019.
Truthfully to say that this app is so convenience! Hassle of looking for parking coupon finally be eliminated from now!
5) A glowing red ‘Blood Moon’ will be the longest lunar eclipse in a century
July is turning out to be an incredible month for astronomy fans.
On the night of July 27 – July 28, astronomy fans in Kuala Lumpur, Malaysia will be treated to the longest lunar eclipse set to occur in the 21st century.
Astronomers expect the total eclipse to last for a full 1 hour and 43 minutes, with the partial eclipse, which occurs before and after the total eclipse phase will last for 3 hours and 55 minutes.
6) Stability control mandatory for all vehicles in Malaysia
The Malaysian government recently has declared it’s intend to introduce legislation for electronic stability control (ESC). All models of passenger cars marketed in the country must be equipped with the electronic stability control (ESC) mechanism by July 2018.
ESC as the most cost-effective life-saving device at present, it could prevent at least 40% of deaths in loss-of-control crashes.
It is an important step forward for Malaysia in Road Safety and to be the first ASEAN country to mandate ESC.
7) An ICPT surcharge of RM1.35 /kWh will be implemented to customers
Due to higher fuel and generation costs for the period of Jan 1 – June 30, the additional cost of RM698.19 million, or RM1.35 /kWh ICPT surcharge, will be implemented on July 1 – Dec 31 via the ICPT mechanism.
TNB said the impact of ICPT implementation is neutral on it and will not have any affect to its business operations and financial position.
8) The Immigration Department launched a crackdown on illegal foreign workers starting July
All the illegal workers will be arrest across the country as enforcement officers conducted raids in a nationwide crackdown.
In another effort to nab undocumented workers, hotlines have been set up for the public to provides details and lodge reports on illegal immigrants.
9) PTPTN Counters will NOT be accepting cash payments starting July 1
The National Higher Education Fund Corporation (PTPTN) is keeping up with the times and planning to go cashless! They have announced that starting July 1, they will no longer accept cash payments at their counters and only cashless payments will be accepted.
It is due to many places are preferring to go cashless these days, it’s even easier to do so. Plus, it’s much safer than using cash and way more convenient as people may not have enough cash with them.
10) After-sales support for original Smart Tag OBU 330 to stop on July
Touch n Go (TnG) has announced that it will no longer provide after-sales support for the Smart Tag OBU 330 device from July 1.
TnG pointed out the Smart Tag model has been in the market and operational for more than 10 years.
The repair components of this model are obsolete, scarce and some parts can no longer be sourced.
Therefore, after July 1, repair requests will no longer be entertained.