Not much for the middle-income group in Budget 2016

KUALA LUMPUR (Oct 23): Budget 2016 did not provide any provisions for the middle-income group, where some were waiting for help to purchase their first homes. Here are some reactions to the Budget announcement:

Kevin Ong, 31, businessman: I am not surprised that the Budget has nothing that would effectively benefit the majority of the people because I expect nothing from the government in the beginning. With the higher cost of living, it is so difficult to buy a home now and this Budget doesn’t help at all.

Jen Liew, 29, tutor: I don’t see anything for me in this Budget. There is no reduction in the tax (real property gains tax [RPGT] and income tax) or stamp duty for property. It does not seem to have anything to do with me and the middle-income group.

Shervin Cheong, 31, account manager: I am extremely disappointed with the budget. I have been waiting to buy my property and hoped the Budget would provide discount on stamp duty or other incentives for first-time homebuyers. After the implementation of the Goods and Services Tax and toll hike, the cost of living keeps going up and everything will only be more expensive next year. I am not qualified for any affordable housing scheme as well, nor can I afford to buy a property.

Julie, 30, administrator: I have been waiting and hoping to buy my first property and thought Budget 2016 would have some incentives for first-time homebuyers. Maybe even bring back the DIBS [Developer Interest Bearing Scheme], which would have been ideal. To be honest, I am so disappointed there was nothing. Prices will keep going up, right? When will I ever be able to own a property?

K K Tan, 34, sales manager: I think the [current] RPGT rate is too high. I thought the rate will be lowered somewhat. There was nothing much for property.

Nadia, 33, freelancer: I do not think the government has addressed issues on the ever increasing property prices or any relief for first-time homebuyers. I am in the middle income group. Nothing in the budget for me. (BAJET 2016)