1MINE wants higher allocation for MyDeposit
KUALA LUMPUR: The Malaysian Indian Network of Entrepreneurs Association (1MINE) has proposed that the First Home Deposit Funding Scheme (MyDeposit) be enlarged to help firsttime house buyers.
In noting that prices of houses were “seriously unaffordable” here and “severely unaffordable” in Penang, 1MINE president Datuk S. Gopinath said the 2018 Budget should have higher a allocation to facilitate home ownership.
“Property prices are sky-rocketing in the country. We see developments in pockets of land here and in the outer vicinity but nothing is affordable, especially for fresh working-class citizens.
“Therefore, the MyDeposit scheme should have higher allocation for first-time house buyers,” Gopinath told NST Business recently.
He also proposed that the government should work out a free-trade zone for small and medium enterprises and exempt tax for ecommerce businesses for the first five years.
“The government should allow the e-commerce businesses to grow and establish a good customer base before imposing tax,” he said, adding that the government should consider providing incentives for local brands that were going global and allowance for skills training.
Meanwhile, Eversendai Corp Bhd executive chairman and group managing director Tan Sri A.K. Nathan hopes for a “people and business-friendly” budget.
He said the government should consider tax relief and incentives to support businesses.
“The government should also impose high tax for imported fabricated steel structures to support the local industry,” he said in a text message. John Gilbert