Due to the continuation of the Full Movement Control Order, Pemulih Aid Package has been announced by our Government on 28 June 2021 which focus on the following:-
1. Wage Subsidy Programme 4.0
The new WSP 4.0 allows the employers to apply for subsidy of RM600 per employee (up to 500 employees) for the following periods during Phase 2 and Phase 3 of the National Recovery Plan (PPN):
The cap on the salary subsidy programme to employees who earn below RM4,000 has been removed.
Effective date for application starts : 1 August 2021
Important noted: Employers will need to include the Wage subsidy into the payslips of the employees
2. Special Grants / Geran Khas Prihatin (GKP)
Additional one-off payments will be given to eligible recipients with RM500 to be paid in September and another RM500 in November.
3. Human Resources Development Fund (HRDF) levy exemption
Government will automatically exempt payments for the HRD levy for two months for employers who are unable to operate during phase one of the National Recovery Plan.
4. Automatic Moratorium For All Borrowers
Automatic, blanket moratorium will be given on loan repayments for individual borrowers in the B40, M40 and T20 groups. Borrowers will need to apply for this moratorium, where banks will give automatic approval and applications will begin on 7th July 2021.
If you need further clarification, please do not hesitate to contact our tax team.
This material or communication has been prepared for the sole purpose of providing general information to our clients, and is not intended to be relied upon as accounting, tax or other professional advice. Consent has to be obtained from the firm prior to any act of republishing or circulating to the general public. While the information is considered correct at the date of publication, changes in circumstances or updates in tax ruling after the time of publication may impact its accuracy and reliability. We have not, by means of this material or communication, rendered any professional advice or services. Thus, we shall not be responsible for any losses sustained by any person who relies on this material or communication. Please refer to our tax advisors should you require our consultancy services.
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