2015 New RON95 petrol subsidy scheme for Malaysians

According to the StarOnline, The new fuel subsidy scheme for RON95 petrol will come into effect mid-2015, while that for diesel will be slightly earlier, said Finance Minister Datuk Seri Najib Tun Razak.

Basically the initial plans are that those earning below RM5,000 per month would receive a full subsidy, those earning between RM5,001 and RM10,000 would get a "partial subsidy", while those earning above RM10,000 a month would not be entitled to a subsidy.

This however is only at the proposal stage. The Government has not decided on how they are going to implement this program. Hence, Those enjoying subsidies of RON95 petrol and diesel would continue to do so until the Government had finalised the new subsidy rationalisation package.

He said the Government was still looking through proposals to determine the best package to be implemented and the public would be fully informed before it came into effect.

Among the ideas floating out there is to implement this subsidy scheme via mykad. 

This might also mean that people who do not usually submit income tax will now have to start submitting them so that they qualify for the subsidy. To put it simply, everyone will be charged at full rate, unless you can prove to them that you do not make as much (by submitting your income tax declaration of course). To those who are thinking that you can cheat the system by under declaring your income, do remember that upon submitting, you are subject to an audit as well.