KUALA LUMPUR, Jan 28 (Bernama) -- Bursa Malaysia snapped its five-day winning streak to close lower on Wednesday, as investors took profit following a cumulative gain of 4.25 per cent over the past five sessions, said an analyst. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 14.76 points or 0.83 per cent to 1,756.49 from Tuesday’s close of 1,771.25. The market bellwether opened 1.46 points lower at 1,769.79, marking the day’s high, and hit a low of 1,750.05 during the mid-afternoon session. Market breadth was negative with losers trouncing gainers 876 to 384, while 525 counters were unchanged, 964 untraded and 94 suspended. Turnover improved to 3.65 billion units worth RM4.41 billion from Tuesday's 3.58 billion units worth RM4.46 billion.
As the goods and service tax (GST) is officially implemented in Malaysia 2014, most Malaysians will finally have to pay tax from all income level. Paying more taxes definitely not good news for almost everywhere through out the world, but there is very small good news to the income tax payers, whereas the income tax rate for the year 2015 will be reduced by few points basis. The winner again, will be the high income earner - which is those who are earning RM400K and above because their rate drop although they might still argue that they will pay a lot more in the form of GST. The following is the comparison of the income tax rate before the GST implementation vs the post-GST.