6 PEMERKASA Plus Initiatives You Can Take Advantage Of!

Three months in, our PM has announced several financial assistance including Program Strategik Memperkasa Rakyat dan Ekonomi (PEMERKASA). As the country goes under full lockdown a.k.a Full Movement Control Order (FMCO) due to the increasing number of cases, our economy is at stake. And indirectly, the rakyats’ livelihoods. In its efforts to help rakyat, they have launched an extension of financial assistance, PEMERKASA Plus.

Earnings during lockdown aren’t easy for some people. So, if you’re one of those who are affected financially due to this ongoing pandemic, here are the initiatives that have been listed for you!

What's covered in this article?

1. Bantuan Prihatin Rakyat (BPR) aid will be given end of June

FYI, the gahmen will give BPR financial aid for those earning low or are in the bottom 40 (B40) as below:

A household earning less below RM2,500 will get RM500
A household earning between RM2,501 to RM5,000 will receive RM300
Bachelors age 21 years old and above will get RM100

2. Targeted loan moratorium for B40, bus/taxi operators & MARA borrowers is available

Unfortunately, not everyone can get the loan moratorium assistance. Our Finance Minister said that the gahmen can’t force the bank to give a blanket moratorium to all. So, the banks only give the targeted moratorium to the B40 and those with affected incomes.

You can only choose either of these 2 solutions:

Automatic loan moratorium assistance for 3 months
Reducing repayment amount around 50% for 6 months

Meanwhile, for a bus or taxi operator, the gahmen also has launched the Hire-Purchase Rehabilitation Scheme for Buses and Taxis. With this scheme, you’d be able to get a loan moratorium of up to 12 months and an extended period of up to 36 months.

As for the Majlis Amanah Rakyat (MARA)’s borrowers, they can apply for rescheduling of loan repayment or moratorium. MARA entrepreneurs will also get a 30% discount on their premises rental until July 2021.

3. Wage Subsidy Program (PSU) under PERKESO is extended

As it’s expected to help more than 2.5 million workers, this program is only for workers that are in affected sectors after a full lockdown such as travel companies. That’s why the gahmen has extended the application deadline from 30 June to 31 July 2021. Take note that one company can only apply for up to 500 workers only.

4. A one-off assistance to e-hailing, taxi, rental cars and school bus drivers

To help ease their affected income, the gahmen will give RM500 per person. Our gahmen expected it to be given to 17 thousand tour guides, 40 thousand taxi drivers, 11 thousand school bus drivers, 4 thousand tour bus drivers and 62 thousand rental car and e-hailing drivers. It’s not much, truthfully. But, can lah for duit belanja makan and petrol sikit.

5. There are some initiatives for entrepreneurs too.

One-off payment for Geran Khas Prihatin (GKP) 3.0 went up to RM1,500 (extra RM500) - will get RM1,000 in the middle of June and the remaining RM500 in July
Companies Commission of Malaysia (SSM) will excuse late payment when you renew your business license until 31 December 2021
Inland Revenue Board of Malaysia (LHDN) will consider if you guys have outstanding taxes payment - either you’ll get a penalty or postpone the penalty payment until 2022 or make new scheduling of the payment
10% discount on electricity bill for additional 3 months between July until September 2021 for the affected sectors

P/s: You can ask your building owners for a special cut for rental on business premises for SME and non-SME for up to another 6 months until 31 December 2021 - 30% decrease from the current rental rates. Just say the gahmen will give a tax cut.

6. Exemptions on stamp duty & sales tax when you buy a house or a vehicle.

Before this, the Home Ownership Campaign (HOC) should’ve ended on 31 May 2021. But, the gahmen decided to extend the stamp duty exemption until 31 December 2021. This means that if you buy a house worth between RM100,000 and RM2.5 million, you’ll get a minimum discount of 10% from the property developer.

Additionally, the gahmen also agreed to extend the 100% sales tax exemption for locally-assembled (CKD) cars and 50% for fully-imported (CBU) cars until the end of the year. Good news to those who are planning to buy a new ride. Ehem, you can find the best car loan here.

What are your thoughts on the PEMERKASA Plus initiatives? Is it better than the previous one? Share with us in the FB comment section!

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*The above article is intended for informational purposes only. Loanstreet accepts no responsibility for loss that may arise from reliance on information contained in the articles.