How often should you rebalance your portfolio? How much income should you save? Will new tax law changes affect your asset location strategy? Maria and Joel tackle your questions in this episode dedicated to advising new and experienced investors using plain talk.
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https://investornews.vanguard/you-ask-we-answer-maria-and-joel-talk-investing/
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KUALA LUMPUR: Mercy Malaysia launched the Covid-19 Pandemic Fund today to support the severely strained healthcare system due to the outbreak of the disease and implementation of the movement control order that took effect today.
The non-profit organisation’s executive director, Amran Mahzan said the fund would also go towards supporting medical services and the essential needs of marginalised groups.
“We have been reinforcing preventive measures such as hand-washing, eating well-cooked food and correct use of face masks at our mobile clinics for refugees and migrants since last month.
“These marginalised communities cannot be left out of the pandemic containment plan as they can potentially be hot spots for the virus to spread rapidly,“ he said in a statement today.
Amran said to support Mercy Malaysia’s initiatives, the donation could be made through www.mercy.org.my or direct to MERCY Humanitarian Fund (5621 7950 4126) or MERCY Malaysia (CIMB 8000-7929-08). All donations are tax-exempted.
The movement control order was declared by Prime Minister Tan Sri Muhyiddin Yassin on Monday night. So far, Malaysia has recorded 790 Covid-19 positive cases with the first fatalities yesterday involving two local residents. – Bernama
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https://www.thesundaily.my/local/mercy-malaysia-launches-covid-19-fund-BA2147388
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KUALA LUMPUR: The authorities will take a soft approach in enforcing the restriction of movement nationwide to allow Malaysians to adapt to the changes in their daily routine.
Inspector-General of Police Tan Sri Abdul Hamid Bador said today that while there are provisions under the Penal Code which empower police to act on those who defy orders and isolation rules, police would take a subtle approach in the early stages of the exercise.
He said in the two-week restriction of movement, police hope the people will play their role in strictly observing the law by self-imposing isolation without the need of police enforcement.
“This is not a curfew. It is just a move to control movement. If the laws are not being adhered to then we will first advise, then warn and finally action will be taken. We hope everyone will cooperate or else the whole purpose of this exercise will be defeated,” he said at a press conference at Bukit Aman, after attending a high-powered meeting in Putrajaya with the National Security Council, military and other agencies.
Abdul Hamid said those who plan interstate travel are required to notify the nearest police station of the purpose of their journey.
He said the traveller will need to have a valid and urgent purpose of making such a trip before police consider issuing an approval letter.
“This is to limit movement of people and to contain the spread of the virus. Please be responsible and not selfish. If there is no urgent need to travel then stay indoors. We seek your understanding in these difficult times. Do not make unnecessary travel or take family holidays.”
Abdul Hamid said random checks will be conducted by police on motorists travelling from state to state to ascertain if they had obtained the necessary travel permit from police.
Abdul Hamid said interstate travel would only be allowed for :
– the demise of a close family member
– the ill-health of a family member
– medical treatment for one’s self or family member
He said those who wish to seek approval for the travel for other reasons may discuss the matter with the officer-in-charge of station (OCS).
Those who fail to produce the travel document during police checks can face action under laws of the Prevention and Control of Infectious Diseases Act 1988 and Penal Code where the penalty is imprisonment up to two years or a fine or both.
He added that traffic police counters for settling traffic summonses will be closed during the two-week period until March 31.
He said those who intend to pay their fines urgently to renew their driving licence or road tax due to being blacklisted can do so online.
Abdul Hamid said if they are unable to pay fines online, they can seek the assistance of the district police chief or his deputy in their respective areas.
On another matter, Abdul Hamid said the police force is yet to have any positive cases of Covid-19.
However, he said seven senior police officers, 34 junior officers, two civilian staff and 11 of their family members have been placed in self-quarantine after being suspected of exposure to the virus.
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https://www.thesundaily.my/local/police-will-take-subtle-approach-in-enforcing-movement-control-order-updated-FC2141052
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PETALING JAYA: The government may face an uphill task trying to recover the country’s economy due to the impact of the Covid-19 pandemic.
Former Domestic Trade and Consumer Affairs Minister Datuk Seri Saifuddin Nasution (pix) pointed out that the previous Pakatan Harapan administration had based the country’s 2020 Budget on the crude oil price of US$62 (RM269) per barrel.
However, he noted that the global virus outbreak has caused oil price to plummet by half to around US$30 (RM130) per barrel.
Saifuddin said this, coupled with the expected tax collection when the budget was announced in October, meant the government’s revenue could be far below than initially predicted.
“Basing on the oil price alone, we could lose about RM10 billion in potential revenue. This does not yet include incomes from the various other sectors.
“Based on my experience being in the Cabinet, I would say that the government’s financial situation now is very complicated,” he told a press conference that was streamed on Facebook today.
Saifuddin was asked to comment if he believed the government has the financial strength to provide RM600 for up to six months to any Malaysian forced to go on unpaid leave due to Covid-19, as announced by Prime Minister Tan Sri Muhyiddin Yassin.
The PKR secretary-general said the financial assistance would only make up a small portion of the government’s spending, reminding the current Perikatan Nasional (PN) administration that it still has debt commitments.
“If they don’t pay according to schedule, it will affect our country’s position from various ratings agencies.
“We may still be able to take up loans in the future, but then we will have to pay a higher interest rate,” he said.
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https://www.thesundaily.my/local/pn-govt-faces-difficult-economic-situation-says-saifuddin-nasution-BC2141164
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U.S. airlines are asking the federal government for grants, loans and tax relief that could easily top $50 billion to help them recover from a sharp downturn in travel due to the new coronavirus.
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https://techxplore.com/news/2020-03-airlines-bn-federal-loans-grants.html
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In this webcast replay, senior financial advisors Jessica McBride and Chuck Riley explain their approach to helping Vanguard Personal Advisor Services® clients year-round and answer questions from viewers on topics such as market volatility, tax efficiency, charitable giving, and spending in retirement.
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https://investornews.vanguard/year-end-is-approaching-what-our-advisors-want-you-to-know/
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GENEVA and Washington, D.C. – A new coronavirus disease (COVID-19) Solidarity Response Fund will raise money from a wide range of donors to support the work of the World Health Organization (WHO) and partners to help countries respond to the COVID-19 pandemic. The fund, the first-of-its-kind, enables private individuals, corporations and institutions anywhere in the world to come together to directly contribute to global response efforts, and has been created by the United Nations Foundation and the Swiss Philanthropy Foundation, together with WHO.
“We are at a critical point in the global response to COVID-19 – we need everyone to get involved in this massive effort to keep the world safe,” said Dr. Tedros Adhanom Ghebreyesus, WHO Director-General. “We are immensely grateful to the UN Foundation and the Swiss Philanthropy Foundation for coming forward to help us set up this fund. A lot of people and institutions have been saying they want to contribute to the fight against the novel coronavirus. Now they can.”
The fund launches with major support already lined up, including from Facebook and Google who have instituted a matching scheme for funds raised through their platforms, while individual donors are also supporting the fund through www.COVID19ResponseFund.org.
“We can’t ignore the fact that this is a truly global problem – one that requires truly global solutions,” said Elizabeth Cousens, UN Foundation President and CEO. “The case for global cooperation could not be clearer – communities everywhere are affected, and people want to contribute. This new fund will create space for people everywhere, together, to fight this virus.”
Funds will go towards actions outlined in the COVID-19 Strategic Preparedness and Response Plan to enable all countries – particularly those most vulnerable and at-risk, and with the weakest health systems – to prepare for and respond to the COVID-19 crisis including rapidly detecting cases, stopping transmission of the virus, and caring for those affected.
WHO and its partners are seeking financing for protective equipment for frontline health workers; to equip diagnostic laboratories; improve surveillance and data collection; establish and maintain intensive care units; strengthen supply chains; accelerate research and development of vaccines and therapeutics; and take other critical steps to scale up the public health response to the pandemic.
The COVID-19 Solidarity Response Fund is hosted by two foundations, the UN Foundation (registered in the United States) and the Swiss Philanthropy Foundation (registered in Switzerland). Both foundations have established relationships with the World Health Organization, allowing for efficient transfer of financial resources to enable COVID-19 response efforts.
Apart from giving online at www.COVID19ResponseFund.org, the UN Foundation can also receive donations via check or wire from around the world by contacting COVID19Fund@unfoundation.org.
All donations made to the United Nations Foundation and Swiss Philanthropy Foundation are tax-deductible to the extent allowable by the law, where applicable (U.S. and Switzerland). Additionally, Swiss Philanthropy Foundation has partnered with Transnational Giving Europe to extend tax benefit to certain additional European countries where applicable.
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More:
COVID-19 Strategic Preparedness and Response Plan
Coronavirus disease (COVID-19) outbreak information
About the United Nations Foundation
The UN Foundation brings together the ideas, people, and resources the United Nations needs to drive global progress and tackle urgent problems. Our hallmark is to collaborate for lasting change and innovate to address humanity’s greatest challenges. With an insider’s knowledge and outsider’s flexibility, we stay agile to get things done. Learn more at: www.unfoundation.org.
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https://www.who.int/news-room/detail/13-03-2020-who-un-foundation-and-partners-launch-first-of-its-kind-covid-19-solidarity-response-fund
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A measure to make Maryland the first state in the nation to tax companies like Facebook and Google for money they make from digital ads on the internet is making steps forward in the state’s legislature.
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https://techxplore.com/news/2020-03-tax-internet-ads-traction-maryland.html
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It's a strikingly strange world today because there are billionaires popping up at a great rate of knots. They seem to be competing with each other in the profit-making stakes as well as in philanthropy. The interest alone on their wealth would fall far short of any money they give away, however, if one were to size it up. That is not the only reason they do it though, as money weighs on their conscience and that is something they cannot ease.
Money is man's invention and it is highly destructive, as we see by the way the earth is being murdered. It is more important to some than life itself. While most feel they cannot live without it the alternative is another man-made situation. Poverty and starvation being the worst situations to be in. That is where charity is needed the most.
Philanthropists love to give money to charities that support the poor. The question is why? When they take so much wealth from the world and the trickle down effects robs those at the bottom of a descent life one has to question whether their conscience plays a role in the generosity? Not everyone who is 'rich' is evil or robbing others, but it is well-known that most only acquire huge wealth by robbing others along the way.
They are renowned for minimising their tax so the governments are denied that money to assist those at those at the bottom. They take rather than give until the amount of their holdings becomes an embarrassment. Many will also cheat in other ways. This assessment excludes those who achieve by mining, oil holdings, and such. But that takes in other things like damage to the environment.
Money is a weight over their heads when it accumulates and their situations are publicly known. That is when many will turn to philanthropic means to relieve their conscience. If they can be seen to be doing some good, then who is going to question how they made their money in the first place.
Perhaps the greatest perpetrators of this type of behavior are religious organizations, such as the Catholic Church. On the surface it provides huge amounts for the upkeep of orphanages, hospitals, and charitable causes. Underneath, however, the lying and cheating that goes on is incredible.
Its relics and monuments that are displayed as genuine articles are nothing but fakes. The pilgrims that pour into the businesses where they are on display are giving millions to the coffers of the church every day. The Vatican's claim that it holds some of the cross on which Jesus Christ died and the nails that held him to the cross is just one of those untruths.
With memory of reincarnation and knowledge that everyone has returned in the same way there is no heaven or hell and my research shows that Jesus Christ is the invention of Constantine, the one dubbed 666 in Revelation 13: 12-18. Without evidence that such existed the Church has done everything to add credibility to its profitable schemes.
Philanthropy is a way of justifying its deception. While it acts in accordance with what the law allows, and it has its own 'country' to do it in, the chances of it being brought to account for its wrongful claims are virtually zero.
Meanwhile by giving to the under-privileged organizations and businesses alike are able to write off tax, satisfy their conscience, and ultimately fool enough people so that it becomes business as usual. Money is a drug leading the world to a disaster as we face the last days.
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Source by Norma Holt
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