As Budget 2007 (expected to be unveiled this coming September 1) lingers around the corner, the Unit Trust sector decided to make a wish list before the Big Day.
Unit Trust Sector’s Wish List…
- overall reduction in the personal and corporate tax regime, which should also be extended to investors of Restricted Investment Schemes (RISs)
- To encourage Malaysians to invest and save for future needs, tax relief should also be accorded for unit trust investment
(for comparison’s sake, there is RM6,000 tax relief per individual for annual EPF contributions and life insurance premiums but zero allocated for unit trusts)- tax benefits given to unit trusts should also be accorded to seed capital providers for their investments in an Exchange Traded Fund (ETF) to encourage the growth of the capital market
- there should be tax breaks and changes in the legislation for real estate investment trusts (REITs)
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