On October 7th, 2011, Prime Minister Datuk Seri Najib Tun Razak unveiled Budget 2012.

The budget is a transformational budget for all Malaysians, and its main priority is to ease burden for Malaysians by helping the people cope with rising costs of living. One of the budget’s main focus is offering generous financial aid for lower and middle income earning Malaysians through cash assistance programmes, bonus, incentives and affordable housing.

Click here to read highlights of Datuk Seri Najib Tun Razak’s Budget 2012 speech.

For your quick reference, below is a summary of the top schemes and financial aids that Budget 2012 has allocated to help you.

For further information, click here to visit Ministry of Finance’s website.

“It is a fantastic budget. The PM has recognised and taken efforts to help people in the lower-income category”
~ A. Yasugeeyamal, 53 years old, Pensioner (Source: Malaysian Insider, 8 October 2011)

BR1M – Bantuan Rakyat 1Malaysia (BR1M RM500 aid)

What: A one-off RM500 aid to ease the burden of rising costs of living.

Who: Malaysian citizens with a household income of less than RM3,000.

Application: Fill in the registration form to apply. Completed forms to register must be submitted from 10 December 2011 to 10 January 2012.

UPDATE: Application deadline has been extended to February 10, 2012. Late applications will continue to be considered and approved accordingly for qualified applicants.

UPDATE: Appeal submission has been extended to March 10, 2012.

Collection: Payment process will begin 16 January 2012. Payment will be made via cash voucher.

Click here to download and print the registration form. Application forms are also available for free at all IRB offices, the Information Department, Federal Development Department and at the Ministry of Finance’s main lobby.

Visit Ministry of Finance for more information on BR1M or call the toll-free BR1M Hotline at 1800-222-500 for more details.

BB1M – Pemberian Baucer Buku 1Malaysia (BB1M RM 200 book vouchers)

What: RM 200 book vouchers for tertiary students to ease the burden of rising costs of living.

Who: All Malaysians studying at tertiary level, including pre-university, foundation, diploma, degree, PhD, matriculation and Form 6. The person must be registered as a student from 1 January 2012 o 31 March 2012 to qualify.

How: BB1M vouchers is valid at participating bookstores from 1 January 2012 – 31 March 2012.

Collection: RM200 vouchers will be distributed to students starting 1 January 2012 by their institution of study

Skim Rumah Pertamaku (My First Home Scheme)

What: A 100% house loan without needing to pay a 10% deposit to increase house ownership amongst Malaysians. Individuals can apply for up to RM220,000 loan with a maximum repayment of 30 years for individuals, while couples can apply for up to RM400,000 loan with a maximum repayment of 30 years.

Who: Malaysians aged 35 and below with a household income of less than RM3,000, or a husband and wife couple who don’t yet own a home with an income of less than RM3,000 each, or a total income of less than RM6,000.

Application: Starting January 2012, qualified individuals or couples may apply at participating banks.

Visit Skim Rumah Pertamaku for more information.

Program Rumah Mesra Rakyat

What: Syarikat Perumahan Negara Berhad (SPNB) will build a house worth RM65,000 and sell it to the applicant for RM45,000. The government will pay the remaining RM20,000 so Malaysians have access to affordable homes.

Who: Malaysians who do not own a home, or is living in an old, incomplete or dilapidated house on a land they own or inherited, aged between 18 – 65 years old, with a household income of less than RM1,500.

Application: Eligible candidates can apply at SPNB. For more information, please call Jabatan Rumah Mesra Rakyat at 03-2681 0180.

Visit SPNB for more information.

Perumahan Rakyat 1Malaysia (PR1MA)

What: 1Malaysia Housing Programme (PR1MA Corp) will build a house and sell it to the applicant at less than market value.

Who: Malaysians who earn less than RM6,000, working with the government, private sector or self-employed, and is a first-time home buyer.

Application: Eligible candidates can apply directly with PR1MA.

Visit PR1MA for more information.