KUALA LUMPUR: The Federal Territories Ministry has come up with five initiatives which include deferment of housing loan repayments to 50 per cent rent cuts, and assessment tax rebates for malls and hotels until year end to ease hardships caused by the Covid-19 pandemic.
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Its minister Tan Sri Annuar Musa said the effort was to lift the financial burdens of Kuala Lumpur, Putrajaya and Labuan folk during the Movement Control Order 3.0 and was in line with the government’s Pemerkasa Plus programme.
In Kuala Lumpur, Annuar said the ministry has agreed to defer the repayment of Yayasan Wilayah Persekutuan (YWP) housing loans for the National Economic Action Council’s People’s Housing Project (PPR MTEN) and City Hall public housing (PA DBKL) for six months from July until Dec this year.
A total of 6,444 borrowers will benefit from this measure, which will cost YWP a revenue exclusion (pengecualian hasil) of RM10.9 million, he said.
From now (June) until Dec this year, 38,124 tenants of PPR MTEN and PA DBKL as well as 457 tenants of public housing owned by Labuan Corporation will be given a 50 per cent reduction on their monthly rent. This will cost the government RM17 million.
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“To support the sustainability of businesses in the Federal Territories, DBKL and Putrajaya Corporation (PPj) will offer assessment tax rebates for 2021 for specific businesses and commercial premises.
“Up to 783 premises in Kuala Lumpur will benefit from this rebate which are 24 private higher learning institutions, 666 hotels and 93 shopping malls which will cost RM23.51 million to DBKL.
“There will be a 10 per cent rebate for commercial and industrial buildings in Putrajaya where the revenue exclusion will be at over RM1.5 million to PPj,” he said in a statement.
Annuar said all residential and commercial premises owners in the Federal Territories will be given the deferment on assessment tax payment until Dec this year.
“We are also making an exemption on the penalty of late payments of assessment tax arrears for 2020 and this year for those living in Kuala Lumpur, Putrajaya and Labuan,” he said.-NST