Thursday, October 29, 2009

Of Credit Cards & Even More Taxes
Recently during the announcement of the Budget 2010, the gomen announced that for every credit card the rakyat owns, they now have to pay the gomen tax for it.

Yes. Tax. For each of the credit card you own.

Their reasoning was to promote more prudent spending among the rakyat, which in return will result in less bad debts. So, in order to protect the rakyat from going bankrupt because of credit card debts, better the rakyat give some of it to the gomen too, hor? After all, the rakyat is already paying income tax every year, paying to use the highway everyday, paying excise duties for the cars they buy, paying gomen tax for the food they eat etc. What's a little more tax, right?

So for each principle card you own, your tax is RM 50. For each supplementary card you own, your tax is RM 25.

I'll bet you, lotsa people are gonna start canceling their credit cards, especially those that hold multiple cards. Imagine someone holding 8 principle credit cards. He/she will have to pay RM 450 annually to the gomen.

Hubby and I own cards from 2 banks. We normally use just one bank, the other acts as a back-up. With this recent announcement, we're looking to cancel one of the cards liao. We're so not gonna fucking pay the gomen extra tax. Cis bedebah!


I hold a diamond card and always pay in full whenever the credit show up on my credit card account. I am going to cancel it if the bank does not absorb the fifty ringgit tax. :P

I do not think banks will absorb that.