I refer to the Malaysiakini report PM slashes spending in Budget 2010 .

I suppose the cronies and the rest of the faithful will be singing their praises of another caring budget from our caring government, quoting the slew of benefits that came our way.

Really? What slew of benefits? Sorry for raining on your parade but you might want to consider the following before breaking out the magnum of champagne:

1. Income tax personal relief has been increased to RM9,000. No doubt here, this is welcomed.

2. EPF as a tax relief has not been given a blanket increase of RM1,000. This increase is only available if you purchase an annuity from an insurance company.

You don't know what an annuity is? Tough luck.

3. Hip, hip hurray! The maximum tax rate has been reduced to 26% from 27%! But hold it, this is not an across-the-board reduction.

It is only for chargeable income exceeding RM100,000. So if you earn what mere mortals do, refer to point two above - tough luck.

4. Again hip, hip hurray! You at least get a new tax relief of RM500 per year in respect of broadband service subscription.

The fact that our broadband service is the pits is another matter.

5. But you ain't seen nothin' yet! You will soon be seeing ‘The Return of Real Property Gains Tax’ at a cinema near you!

Sorry folks, but the exemption that those selling off their residential property enjoyed since Apri 1, 2007 will soon be no longer available.

The tax, at 5%, is making a comeback on Jan 1, 2010.

But do not let these little details spoil your party - you will be laughing all the way to the bank when your income doubles itself soon as ‘promised’.