Initially I was happy that there are changes to the taxation.. However after a closer look.. I am still being tax at 30% be it the old or the new PIT rates.

This damn rates has been the same since it was enacted in '92... The government (whatever party) fail to index the tax rates for inflation which make the people carry heavy tax burden! Not even sure when will the new PIT rates official come into effect.

The government should indexes the tax on yearly basis, let say against Consumer Price Index, the people will benefit from due to greater saving which can be use to offset the inflation.

Initially I was happy that there are changes to the taxation.. However after a closer look.. I am still being tax at 30% be it the old or the new PIT rates.

This damn rates has been the same since it was enacted in '92... The government (whatever party) fail to index the tax rates for inflation which make the people carry heavy tax burden! Not even sure when will the new PIT rates official come into effect.

The government should indexes the tax on yearly basis, let say against Consumer Price Index, the people will benefit from due to greater saving which can be use to offset the inflation.

Why would you not still be happy?

If you are in the 30% PIT tax bracket then you will still be paying 5% less tax on 1,400,000 worth of income, so you'll pay 70,000 less in tax next year. In fact, you are actually receiving the maximum tax benefit possible from the changes.

Sorry for not making my point clear. I am trying to say the reduction is not significant and I am still paying a large amount of tax about 8 times more here in comparison to the amount I pay in Singapore.