KUALA LUMPUR (Nov 21): The Dewan Rakyat today passed the Supply Bill for Budget 2019 at the policy stage through a voice vote.

Speaker Datuk Mohamad Ariff Md Yusof called for the voice vote after Finance Minister Lim Guan Eng's wrap-up speech on the Bill.

In his winding-up speech, issues that Lim addressed included the cut-off date for real property gain tax (RPGT), B40 National Health Protection Fund, the RM19.4 billion goods and services tax (GST) refund and allocation to tertiary education institutions like Tunku Abdul Rahman University College.

In Budget 2019, Lim announced a 5% RPGT to be imposed on locals and permanent residents for disposal of properties in the sixth year and beyond, from the date of purchase, but exempted for affordable housing with prices below RM200,000.

"After engaging with various parties, they told us that it is not fair to them as their property ownership could be dated as far back as the 1960s. So we took that into consideration, and set the year 2000 to be the cut-off year for year of valuation," he said.

Khairy Jamaluddin (BN-Rembau) requested Lim to clarify on whether all foreign-owned insurers are eligible to participate the Government's B40 National Health Protection Fund initiative.

Lim confirmed that they are all eligible, and that Bank Negara Malaysia will be the authority that determines the amount of contributions required from these insurers for them to be exempted from the requirement to sell 30% shareholding to a domestic investor.

On the issue of the “missing” RM19.4 billion GST refunds, former Prime Minister Datuk Seri Najib Razak (BN-Pekan) told the House that if the tax was not abolished, the Government would have been able to repay the refunds without the need for the RM30 billion special dividend from Petroliam Nasional Bhd.

However, Lim described Najib of having a "denial syndrome", as the money was meant for refunds instead of other uses.

Lim explained that in an ideal case, GST collected before June 1 this year should be sufficient to settle all refunds.

"The total amount of refunds was dated May 31 this year, it has nothing to do with the subsequent tax holiday," he said.

Nonetheless, Datuk Ahmad Hamzah (BN-Jasin) said Lim should not be commenting on the GST refund matter as it is currently being investigated by the Public Accounts Committee.

"Let's wait for the PAC report, I can wait, I won't run," Lim said, "And I hope Pekan (Najib) can wait, and not run away from the PAC report."