Govt to provide subsidies for people to own affordable homes

The government will provide subsidies of between RM15,000 to RM20,000 to enable the people to own affordable homes, says Second Finance Minister Datuk Seri Ahmad Husni Hanadzlah.

He said Syarikat Perumahan Negara Bhd (SPNB) would come up with three types of three-bedroom affordable homes valued at RM65,000, RM55,000 and RM45,000.

"For the RM65,000 homes, the government will provide a RM20,000 subsidy. For those costing RM45,000, the subsidy provided is RM15,000," he told reporters on the sidelines of the National Business Zakat Symposium 2013 here.

He also said the Budget 2014 to be tabled in Parliament on Oct 25 would be "people friendly", focusing on affordable homes and infrastructure development.

Ahmad Husni said the government is also pushing for SPNB to be a large-scale developer of affordable houses for the people, building bungalows with a selling price of about RM250,000, alongside semi-detached and terraced houses for about RM100,000 and RM80,000 respectively.

"The government will also emphasise more on infrastructure development in the upcoming budget, especially in areas lacking access to electricity, water and roads," he added.

Earlier, in his keynote address, Ahmad Husni said the symposium demonstrated a progressive initiative to streamline modern business practices with what is in Islam.

"The government has made several provisions for individual zakat, including the recognition of the entire amount paid, as a tax rebate.

"As for business zakat, the government has proposed that zakat on business income paid by companies is deductible for the computation of the corporate income tax, not exceeding 2.5 per cent of the aggregate income," he added.

The one-day symposium was organised by the Malaysian Institute of Accountants and Universiti Tenaga Nasional. It was aimed at improving and standardising accounting and reporting practices for all stakeholders in the zakat ecosystem.