Have you ever wondered where our country gets its money from? Random Distribution of National Income

Hello friend! Have you ever heard terms like "national income" or "government income" and just passed it by?

We've all been there.

But guess what?

It's really cool to understand where our country's income comes from (and helps you appreciate all the great things that are built and funded because of it!).

So, ditch the textbooks and let's break it down in a way that's easy to understand, Santai (casual), and maybe even a little fun.

Think of Malaysian income as a family budget.

We all work hard to earn money for ourselves and our loved ones, right?

Well, the government is like the head of a big family - our country.

They need a steady income to keep things going, to pay for the things we all need, and even to invest in the future. 🇲🇾

Where does this money come from?

Get it because it is actually a combination of several sources:

1. Taxes: Our biggest contributor

This is probably the most well-known taxes!

Just as we pay a portion of our salary to the government, Malaysians pay taxes in other ways.

The breakdown is as follows:

Direct Taxes: This is the money you pay directly to the government, e.g. income tax (administered by LHDNM) and property tax (CKHT).

Indirect taxes: These are hidden taxes that you pay when you buy goods, such as Sales and Service Tax (SST) administered by Royal Customs Malaysia (JKDM). Remember all those times you grumbled about extra charges on your bill? Yes, it increases national income!

Fun Fact: In 2019, direct taxes were the biggest champions, earning a whopping RM145.078 billion for the national kitty! It has a lot of pembangunan (development).

2. Non-Tax Revenue: Not Just Taxes

The government also makes money by providing services to people.

Think about how you can get paid for babysitting or housework.

Non-tax income includes the following:

Fees and Permits: Do you remember the renewed license or permit you applied for? These fees affect it.

Sale of Services and Goods: Does the government sell anything? I bet! This includes things like property or resources.

Investment: The government actually invests money as well, and all profits from those investments go into national income.

3. Receipts (not really income)

This category may seem confusing, but basically the government is getting money back.

Think of it as getting your money back. Examples:

Excess Mutual Fund: Remember when you deposited extra money into your Tabung Haj account and got it later? Same idea, but at the national level.

Overpayment refunds: Oh, did the government accidentally overpay someone? They get a refund here.

4. Income from Federal Territories

Kuala Lumpur, Putrajaya and Labuan.

These Federal Territories also generate income, although it is a smaller share than other sources.

Yes, it exists!

The next time you hear about national income, you'll be a pro.

Remember, a strong national income means a better Malaysia for all of us.

And guess what?

By paying taxes, using government services and even being a responsible citizen, you are helping!

Want more information? Here are some great resources:

LHDNM: [LHDN website IS Lembaga Hasil Dalam Negeri lhdn.gov.my] (Learn more about taxes!)

Customs department of the Royal of Malaysia : [ jkdm customs Malaysia ON Royal Malaysian Customs Department jkdm.gov.my] (For more information on SST and other customs matters)

Department of Statistics Malaysia: [Department of Statistics Malaysia ON Department of Statistics Malaysia dosm. gov.my] (Dive Deeper into National Income Data)

And one last thing... Be proud Malaysians!

Every little thing we do makes a difference.

Let's continue to build a stronger Malaysia together!

Ever Wonder Where Our Country Gets Its Money? A Breezy Breakdown of National Income

National income? Sounds confusing? Not anymore! This article breaks down where Malaysia's money comes from in a santai way - taxes (biggest contributor!), gov't services, and even some "refunds." Feeling proud you pay taxes yet? You should! #myknowledge #budgeting