Our neighbours across the causeway have had quite the month. Malaysia’s shock election results on May 10 ended the Barisan National coalition’s 61-year rule and paved the way for the new ruling party, Pakatan Harapan, to take the reins. The new government, led by sprightly nonagenarian Dr Mahathir Mohamad, has announced and already implemented a few changes that have caused ripples among the Malaysian public.
Here’s how Singaporeans will be affected by the new Malaysian government:
1. Changes in prices of goods and services due to 0% GST
Malaysia’s Goods and Services Tax (GST) went zero-rated on June 1, which means that the prices of goods and services should go down by 6%. Not all goods will be cheaper, however – those that were already zero-rated prior to June 1 (such as fresh food items and baby formula) will not experience a price reduction. Click here for a full list …