But according to Lembaga Hasil Dalam Negeri (LHDN), the main factor of failure for over 3 million applicants of BR1M is due to owning private businesses which are registered under Suruhanjaya Syarikat Malaysia (SSM).
Of the 3 million plus failed applicants, it is estimated that over 1.1 million applicants have one or more companies registered under SSM. It is understood that, for this reason, their applications were rejected by LHDN.
But this does not mean the end as they can still appeal at LHDN offices across the country starting next month. Applicants only need to bring the financial statements of their companies that show that they are eligible for BR1M.
The question is, is it possible that these 1.1 million traders registered under SSM, did not gain any profit from their businesses?
If we revised, during the announcement of Budget 2017 in October last year, Datuk Seri Mohd Najib announced that BR1M will be given to target groups in the B40 category, which is families with total income of less than RM4,000 a month.
Seeing this, the question that arises is whether these 1.1 million plus traders did not generate any profit from their businesses at all. Are they more interested in registering the businesses without actually running them?
Logically, no traders in the world want to bear losses on their sales revenue. For example, if in a day they roughly generate RM200 in profit, they will earn RM6,000 a month and that has far exceeded the maximum rate for BR1M recipients that was designated by the government.
So this is where the logic lies on why LHDN decided that those applicants with SSM business licenses will not be approved.
But do not worry, there is still room for appeal. Make an appeal to the proper authority.
Written by:
Beruang Biru
BB318, Wednesday
March 8, 2017
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my husband hv 3 company registered with ssm.. all are not active.. dont even hv bank acc.. his personal acc statement shows no income.. we didnt own any property or vehicles. we just hv a motorcycles for me to go to work n for kids to go to school. yes it is possible for company registered not gaining income.. he tried so hard to make income.. im just a cleark n im bankrupt too.. lhdn keep on giving excuse n keep rejecting our application. because of his company. we showed prove of income.. so lhdn been giving illogical reason of rejecting our application.