Wednesday, November 11, 2009

You are damn lucky, drivers!

I said you are damn lucky! Why? Well, if you are driving and paying tolls, then you are lucky!

The government has been surpressing annual toll increase for the past 2 years, to make sure that you ae not affected. What the toll operators have in return is compensation based on projected annual traffic.

What does it means? It means the toll operators tells the government that their projected traffic using their highways are so and so, and the government duly pay the compensation without asking.

But what is the benefit for drivers? Well, you don't need to come out from your already squeezed money from your pocket, the government takes from you at one go and pay accordingly. So you you still pay the same toll rates, the toll operators still make their money with their projections instead of real traffic, and the government is happy that toll rates not affecting you by paying toll operators on behalf.

This is a WIN WIN WIN situation.

However, there are more in the recent budget, makes it even better for drivers who pay tolls.

Just to refresh your memory: the govebrment is expected to collect RM500million per annum from credit card holders, and on the othe hand: the government is paying the toll operators compensation approximately at RM400million for fiscal year 2010. (for details, please Google, don't you know there's something called Google that will find anything for you?)

If you are driver who pay tolls and have a credit card, you will be taxed RM50 per annum.

Consider if your monthly toll payment is RM200 and government allows to increase by 10%, you'll need to pay RM20 extra per month, which is RM240 per annum.

And you just pay RM50 for your credit card service tax and all settled. You need not suffer the lost of RM190 in addition if the toll hike by 10% and there's no credit card service tax.

"what if I have more than 1 card?" Well, the maths is simple, take RM240 divide by RM50, means if you have 5 cards, you'll then be paying more.

Conclusion: if you are toll users and have less than 5 cards and your average toll is not more than RM200 per annum, you make!

But if you are either have more cards or pay less tolls, then God bless you!

"I don't use tolled highway, but I have some cards, then?" some may ask.

Then you are settling bills on behalf of others who pay tolls, MORON!

-- Post From My iPhone

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