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Thread: HIGHLIGHTS-Malaysia announces consumption, property taxes in 2014 budget

  1. #1
    Blue blood

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    Default HIGHLIGHTS-Malaysia announces consumption, property taxes in 2014 budget

    http://www.reuters.com/article/2013/...0IE0TY20131025

    Following are highlights from Najib's ongoing speech to parliament:

    (see webpage)

    REAL PROPERTY GAINS TAX

    For gains on properties disposed within the holding period of up to 3 years, RPGT rate is increased to 30 percent.

    For disposals within the holding period up to 4 and 5 years, the rates are increased to 20 percent and 15 percent, respectively.

    Malaysian property firms with exposure to this tax change include UEM Sunrise, Mah Sing Group and Tropicana Corp .

    Raise the minimum price of property that can be purchased by foreigners to 1 million ringgit from 500,000 ringgit.

    Prohibit developers from implementing projects that have features of Developer Interest Bearing Scheme (DIBS), to prevent developers from incorporating interest rates on loans in house prices during the construction period.

    Financial institutions are prohibited from providing final funding for projects involved in the DIBS scheme. Malaysia's top three banks are Maybank, CIMB and Public Bank.

  2. #2
    ipropertyguru

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    Income tax to reduce from 26% to 24%!! Good thing if you are earning rental income!

  3. #3
    Junior

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    Those buy jb are screwed. JB rent to who??
    Slowly singaporeans will be sucked dry, more rules will come.

  4. #4
    Junior

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    Those property price below $1m will be trapped because foreigners cannot buy and local jb ppl will not touch.

  5. #5
    ipropertyguru

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    Quote Originally Posted by star View Post
    Those property price below $1m will be trapped because foreigners cannot buy and local jb ppl will not touch.
    True for JB. But for KL is different story. The price will appreciate till it crosses the $1m.

  6. #6
    Newbie

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    Quote Originally Posted by leesg123 View Post
    True for JB. But for KL is different story. The price will appreciate till it crosses the $1m.
    .....SG PR have been buying and will continue to buy....if the price drop these are the people who will reap the benefit, not foreigner and not local wage earners.....all SG PR will huat......hahahhahahahhaha...eat your heart out sinkies....the marginal players who are sulking here can kiss your a_____ goodbye to a nice FH property in Iskandar.

  7. #7
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    To milk more taxes from foreigners, they should raise foreign buyers min price to $2m & ABSD 15%!


    Quote Originally Posted by princess_morbucks View Post
    http://www.reuters.com/article/2013/...0IE0TY20131025

    Following are highlights from Najib's ongoing speech to parliament:

    (see webpage)

    REAL PROPERTY GAINS TAX

    For gains on properties disposed within the holding period of up to 3 years, RPGT rate is increased to 30 percent.

    For disposals within the holding period up to 4 and 5 years, the rates are increased to 20 percent and 15 percent, respectively.

    Malaysian property firms with exposure to this tax change include UEM Sunrise, Mah Sing Group and Tropicana Corp .

    Raise the minimum price of property that can be purchased by foreigners to 1 million ringgit from 500,000 ringgit.

    Prohibit developers from implementing projects that have features of Developer Interest Bearing Scheme (DIBS), to prevent developers from incorporating interest rates on loans in house prices during the construction period.

    Financial institutions are prohibited from providing final funding for projects involved in the DIBS scheme. Malaysia's top three banks are Maybank, CIMB and Public Bank.

  8. #8
    Newbie

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    There should be a grace period for the new measure to take place. Best bet now is to buy a landed house in G&G for 600-700k now, in areas like Desa Tebrau, Bandar Dato Onn, Seri Austin.

    Price increase to 1mil in the short-term is not an issue.

  9. #9
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    Quote Originally Posted by Photogguy View Post
    .....SG PR have been buying and will continue to buy....if the price drop these are the people who will reap the benefit, not foreigner and not local wage earners.....all SG PR will huat......hahahhahahahhaha...eat your heart out sinkies....the marginal players who are sulking here can kiss your a_____ goodbye to a nice FH property in Iskandar.
    Agreed. Malaysians who are SPRs have benefited the most from SG's boom.

  10. #10
    Newbie

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    Default Don't Understand

    My brain still cannot understand the reason Malaysia Government have this latest policy. Any one have idea and share with me.

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