Saturday, December 17, 2005

Financial planning & rights for the Disabled (in Malaysia).

As per this, I shall quote from the mag on some of the things they have written in terms of financial planning & rights for the disabled (in Malaysia).

In Malaysia, it is estimated a loss of RM4.48 billion to RM 6.38 billion because the disabled are excluded from contributing economically (hence working in jobs). As is known, if the disabled (more towards those who are just physically handicapped, visual or hearing disabled) are taught and socialised from young, they are capable of being independent & fending and earning financially for themselves

Our country is still about 20 years behind other Developed Countries such as Japan or Australia (according to a Special Needs lecturer! *lolz*), but that can be helped as our country is still a very young "infant".

To enjoy the benefits, rights and the legislation given to the disabled, the individual must be registered as "disabled" under Jabatan Kebajikan Masyarakat Malaysia (JKMM) or any other government bodies.

The government has set up a Code of Practices for the Employment of Disabled Persons in the Private Sector / Kod Amalan Penggajian Orang Kurang Upaya (Kod OKU) in 2001.
Among some of the more important things (as noted in the legislation are):

In the Government Services Circular no.10/1998, 1 percent of the job opportunies is allocated to the disabled.

Income Tax Act.1967:

For the disabled individual tax payer, a further deduction of RM5,000 tax relief (added to the normal RM8.000 for able bodied).
Spouse: RM2,500 (added to the normal RM3,000)
In the Recent Budget 2006, the disabled child pursuing higher education will receive a RM9,000 tax relief. Also a further RM5,000 tax relief for purchase of disabled assistive equipment. (for which individual disabled individual).

Employers receive double tax deductions for salaries paid to disabled employee and training of any disabled non-employee.

EPF Act 1991:

Disabled members are allowed to withdraw all savings but with strict guidelines and submission of relevant documents.
The disabled person will also receive RM5,000 from EPF as a compassionate gesture.

Rights of the Disabled:

Sales Tax Act. 1972:

Sales tax has been exempted from assistive/supportive equipment. (such as orthopaeics appliances, hearing aids, wheelchairs). The disabled people can also apply for special funds to buy motorised tricycles and other devices from the National Welfare Foundation.

Law Reform (Marriage & Divorce) Act 1976:

If disabled children are put under custody of mother, she need not worry about finding extra income to support the disabled children for funding will still be the father's responsibility, and action can be taken against him.

Married Women and Children (Maintenance) Act. 1950 (Revised 1981):

The wife has the right to claim maintenance even before the divorce hearing. (able or disabled!).
If father fails, just refer to the Law Reform Act ler... ;-)

Inheritance (Family Provision) Act 1971:
The deceased's estate will be reasonably divided among all dependents, here, referring to either son or daughters who are disabled and unable to maintain themselves, and also a (disabled) daughter who is not married.

If the deceased's will does not provide sufficiently, they have the right to request for provision to be given out differently from what is stated in teh will.

Housing: The government through Syarikat Perumahan National Berhad (SPNB) gives a price discount of 20 percent to disabled persons with low income.

Education: a monthly allowance is given to disabled children
RM25 in primary/secondary school.
RM3000 persuing higher education.

Transportation: up to 50 percent on tickets are given. including MAS, KTMB, Transnasional and Syarikat Prasarana Negara. They are also exempted from paying road tax. (applicable to local cars) and 50 percent discount on Govt. duty on local cars.

Communication: Telekom (its Pakej Penyayang), free monthly rental and free telephone enhanced facilities, (call waiting, call transfer services).

Establishing a business: A launching grant up to RM2,700 for the purpose of starting up a business. Additional grants however, will be given for business expansion.


dannie chOOng said...

Wow, I'm impress. Thought you are an "educator" with little children only, didn't know you are also doing a major on disabled ! Keep it up !

By the way Chea Yee, it's been a pleasure knowing you over the weekend. Hope to catch up with you soon some day again ya...

CheaYee said...

Hei hei.....

ah no lar....just doing a course on Special Needs. WE still have to learn this for our general knowledge in order to do our assignments neh....

can't write something if we don't know any thing, right?

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