point to 24 per cent and income tax rate for SMEs would be reduced by one percentage point to 19 per cent. Businesses to receive training grant of RM100 million for their employees to attend GST courses Small and medium enterprises to get RM150 million financial assistance to purchase software. Accelerated capital allowance on purchase of information and communication technology equipment and software. Expenses incurred for training in accounting and ICT relating to GST would be given additional tax deduction. Government to increase allocation for various subsidies to RM40.5 million in 2014 The allocation for subsidies has increased 14 times from RM1.65 billion in 2002 to RM23.5 billion in 2013, solely to maintain low retail petrol price due to increase number of vehicles The government will soon announce a new mechanism for providing petroleum subsidy To attract more expatriate entrepreneurs to establish start-ups in Malaysia, the paid-up capital is now fixed at RM75,000 Eligible expatriate start-up entrepreneurs to get one-year work pass EKUINAS to receive RM600 million to increase Bumiputera ownership in private companies and government-linked companies To date, EKUINAS has cumulative investments of RM2.3 billion in various sectors Strengthening the role of the National Entrepreneurship Institute as a centre of excellence for Bumiputera entrepreneurship Further accelerate the Bumiputera Entrepreneurs Startup Scheme with additional allocation RM300 million Bumiputera Entrepreneurs Startup Scheme will also be extended to Sabah and Sarawak Pre-export programme to be introduce for 60 high-performing Bumiputera companies to enhance branding, international certification and market surveys for Bumiputera products Lembaga Tabung Haji will allocate RM200 million to set up syariah-compliant Restricted Investment Account under Bank Islam, to provide financing and credit of between RM50,000 and RM1 million from January 2015 Amanah Ikhtiar Malaysia to use internal sources of RM1.8 billion for financing to benefit 346,000 Sahabat AIM Malaysian Rubber Board (MRB) will allocate RM100 million to implement a regulatory price mechanism at the farm level MRB will provide soft loans of RM6.4 million as working capital to 64 smallholder cooperatives to purchase rubber directly from 442,000 rubber smallholders nationwide An allocation of RM41 million for smallholders to plant and replant oil palm Export duty exemption for crude palm oil extended until December 2014 RM1.3 billion allocated to build 80,000 units under the 1Malaysia People’s Housing Programme Ceiling of household income raised to RM10,000 from RM8,000 to enable more people to own houses Rent-To-Own Scheme to be introduced for individuals