Whatever la ......just sell your property in JB if you so kiasu kiasi. No need kaw beh kow bo here.
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Johor Strait Development Corridor Master Plan 2025
- Thread starter FHBH12
- Start date
Whatever la ......just sell your property in JB if you so kiasu kiasi. No need kaw beh kow bo here.
Will the reasonable profit be vaporized by the ever weakening RM$?
RM are weaken but will rebound one day. What goes down must come up .....
Nobody will want to kpkb here if not for the stupid 5 Year flat 30% tax that the Msia govt imposed on foreigners AFTER many people have bought into their Iskandar scheme.
Locals like you with minimal or zero tax can go sell now before the exodus of foreigner sales after 5 years come crashing in.
Real Property Gains Tax (RPGT) is applicable for Malaysian too.....30% flat for 1st three years. Only slight better off than foreigner. However, foreign currency (Sing Dollar) is so powerful now that anything in Malaysia is so cheap for Singaporeans.
3 years tax is a big advantage for locals who can sell now whereas the foreigners are still locked in and subjected to the risks of future sale of property being restricted to locals only.
This time xie liao. Project just started. Cannot sell. Kena locked again.
Last time also kena with CLOB. Sigh..
RPGT for 4rd year and 5th year is 20% and 15% for Malaysian. So, only slightly better.
Oh yes, cannot sell property before completion in Msia. So everyone who have bought freehold in international zone are stuck with project in progress and cannot sell!
By the time completed, all other projects also TOP so big glut. Prices will drop.
Then RM drop some more. Damn jialat. Cannot think how much I will get back in S$. Bank interest oso cannot recover.
Not stuck la.... is a long term investment. If cannot sell later, just use it for own stay. In future, no more freehold for foreigner. Those holding on to the properties in JB now are the lucky one. Be positive.
The concept of freehold may not apply anymore to foreigners in these international zones. Holding costs will go up as it is the original intention of the zones and higher interest rates. Selling off may mean taking a hit with a shrinking pool of well heeled foreign buyers.
Lucky I dun mind staying longterm, maybe next time MM2H, maybe my kids will marry Malaysian girls or become Malaysian (then can escape NS, no need to risk lives protecting foreigners)....
I think if not selling and property is on loan then RM dropping is not that bad. Pay less bank interest when convert back to Sgd.
So many negatives now. How much more negatives can investors take? It is strange that Msia govt set up Iskandar to attract foreigner investors but after halfway success start implementing and proposing policies to have international zone with freehold properties that can only sell to locals.
I just recall Msia govt gives a one time tax exemption for Msians i.e no need to pay RPGT for one property. Foreigners do not have this exemption. So it is not only slightly better. Also 50% discount in tax in the 5th year is not slight.
You have to know that in MY, there is the Federal rules & regulations and also the respective State's own rules & regulations and many times the 2 sets of rules & regulations are different or contradicts one another to add to the confusion plus the regular flip-flop policies and you really don't know which is which and what to follow.
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I think with the RM dropping and properties in Msia becoming cheaper, investors who find it cheaper to invest in Msia properties will just go buy in KL without these international zone policies. Ultimately Johor will suffer unless they are not interested to have foreign investors.
More info:
http://www.nbc.com.my/blog/budget-2015-self-assessment-real-property-gains-tax-rgpt/
Budget 2015: Self Assessment for Real Property Gains Tax (RGPT)
Currently, gains from the disposal of property under the Real Property Gains Tax Act 1976, are assessed formally by the Inland Revenue Board (IRB or more commonly known as LHDN)
The Government has implemented the Self-Assessment System for individual and company income tax effective from the year 2001 and 2004, respectively.
In tandem with the Government’s aspiration to modernise the tax system and given that people are more responsible, it is proposed that tax on gains from the disposal of property be self-assessed by the taxpayer effective from the year 2016.
________________________________________
The rates for real property gains tax (RPGT) for properties disposed of in 2015 will be the same as of 2014:
REAL PROPERTY GAINS TAX FOR 2014 & 2015 Tax Rates
Personal (citizen & PR) Company
Disposed within 3 years 30% 30%
Disposed in 4th year 20% 20%
Disposed in 5th year 15% 15%
Disposed after 5 years 0% 5%
For non-citizen, disposal within 5 years is subject to a flat RPGT of 30%. Disposal after 5 years, RPGT is at 5%.
The RPGT rates increase is applicable to disposal of property taking place on or after 1 January 2014.
http://www.nbc.com.my/blog/budget-2015-self-assessment-real-property-gains-tax-rgpt/
Budget 2015: Self Assessment for Real Property Gains Tax (RGPT)
Currently, gains from the disposal of property under the Real Property Gains Tax Act 1976, are assessed formally by the Inland Revenue Board (IRB or more commonly known as LHDN)
The Government has implemented the Self-Assessment System for individual and company income tax effective from the year 2001 and 2004, respectively.
In tandem with the Government’s aspiration to modernise the tax system and given that people are more responsible, it is proposed that tax on gains from the disposal of property be self-assessed by the taxpayer effective from the year 2016.
________________________________________
The rates for real property gains tax (RPGT) for properties disposed of in 2015 will be the same as of 2014:
REAL PROPERTY GAINS TAX FOR 2014 & 2015 Tax Rates
Personal (citizen & PR) Company
Disposed within 3 years 30% 30%
Disposed in 4th year 20% 20%
Disposed in 5th year 15% 15%
Disposed after 5 years 0% 5%
For non-citizen, disposal within 5 years is subject to a flat RPGT of 30%. Disposal after 5 years, RPGT is at 5%.
The RPGT rates increase is applicable to disposal of property taking place on or after 1 January 2014.
More info:
http://www.nbc.com.my/blog/gains-on...s-that-are-exempted-from-tax-rpgt-exemptions/
Exemptions on RPGT (No RPGT for Gains on Disposal of Property)
Certain gains on the disposal or transfer of properties are tax exempted, subject to the provisions of Real Properties Gains Tax Act, 1976.
Real Property Gains Tax (RPGT) exemptions are available in the following circumstances:
• An individual who is a Malaysian citizen or a permanent resident will be given a once-in-a-lifetime exemption on any chargeable gain arising from the disposal of his/her private residence if he/she elects in writing for the exemption to apply to that private residence.
• An individual will be given an exemption equal to RM10,000 or 10% of the chargeable gain, whichever is greater.
• Gifts between husband and wife, parent and child or grandparent and grandchild are deemed to be “No gain no loss” transactions.
• Transfers between companies:
(a) Transfers within the same group to bring about greater efficiency and for a consideration consisting substantially of shares in the transferee company.
(b) Transfers between companies for the purposes of reorganisation, reconstruction or amalgamation where the transferee company is being restructured to comply with the Government’s policy on capital participation in industry.
(c) Assets distributed by a liquidator under a scheme of reorganisation, reconstruction or amalgamation where the transferee company is being restructured to comply with the Government’s policy on capital participation in industry.
________________________________________
• Transactions in which the disposal price is deemed equal to acquisition price (i.e. “No gain no loss” transactions):
(a) Devolution of a deceased person’s assets to his trustee or legatee.
(b) Transfer between spouses.
(c) Transfer of assets owned by an individual, his wife or by an individual jointly with his wife or with a connected person to a company controlled by the individual, his wife or by an individual jointly with his wife or with a connected person, for a consideration consisting substantially (more than 75%) of shares in that company.
(d) Transfer between an individual and a nominee who has no vested interest in the assets.
(e) Transfer by way of security in or over an asset.
(f) Gifts to the Government, local authority or charity exempt from income tax.
(g) Disposal due to compulsory acquisition.
(h) Disposal of chargeable assets pursuant to an approved financing scheme which is in accordance with Syariah principles, where such disposal will not be required for conventional financing schemes.
Exemptions via Gazette Orders which are currently available include:
• Disposal of chargeable assets in relation to the Sukuk issued by the Malaysian Global Sukuk Incorporated.
• Disposal of chargeable assets in relation to the Sukuk Bank Negara Malaysia – Ijarah issued or to be issued by BNM Sukuk Berhad.
• Disposal of chargeable assets to Real Estate Investment Trusts and Property Trust Funds.
• Disposal of chargeable assets in relation to the issuance of private debt securities under Islamic principles.
• Disposal of chargeable assets:
(a) to or in favour of a special purpose vehicle; or
(b) in connection with the repurchase of the chargeable assets, to or in favour of the person from whom those assets were acquired, for the purpose of a securitisation transaction.
http://www.nbc.com.my/blog/gains-on...s-that-are-exempted-from-tax-rpgt-exemptions/
Exemptions on RPGT (No RPGT for Gains on Disposal of Property)
Certain gains on the disposal or transfer of properties are tax exempted, subject to the provisions of Real Properties Gains Tax Act, 1976.
Real Property Gains Tax (RPGT) exemptions are available in the following circumstances:
• An individual who is a Malaysian citizen or a permanent resident will be given a once-in-a-lifetime exemption on any chargeable gain arising from the disposal of his/her private residence if he/she elects in writing for the exemption to apply to that private residence.
• An individual will be given an exemption equal to RM10,000 or 10% of the chargeable gain, whichever is greater.
• Gifts between husband and wife, parent and child or grandparent and grandchild are deemed to be “No gain no loss” transactions.
• Transfers between companies:
(a) Transfers within the same group to bring about greater efficiency and for a consideration consisting substantially of shares in the transferee company.
(b) Transfers between companies for the purposes of reorganisation, reconstruction or amalgamation where the transferee company is being restructured to comply with the Government’s policy on capital participation in industry.
(c) Assets distributed by a liquidator under a scheme of reorganisation, reconstruction or amalgamation where the transferee company is being restructured to comply with the Government’s policy on capital participation in industry.
________________________________________
• Transactions in which the disposal price is deemed equal to acquisition price (i.e. “No gain no loss” transactions):
(a) Devolution of a deceased person’s assets to his trustee or legatee.
(b) Transfer between spouses.
(c) Transfer of assets owned by an individual, his wife or by an individual jointly with his wife or with a connected person to a company controlled by the individual, his wife or by an individual jointly with his wife or with a connected person, for a consideration consisting substantially (more than 75%) of shares in that company.
(d) Transfer between an individual and a nominee who has no vested interest in the assets.
(e) Transfer by way of security in or over an asset.
(f) Gifts to the Government, local authority or charity exempt from income tax.
(g) Disposal due to compulsory acquisition.
(h) Disposal of chargeable assets pursuant to an approved financing scheme which is in accordance with Syariah principles, where such disposal will not be required for conventional financing schemes.
Exemptions via Gazette Orders which are currently available include:
• Disposal of chargeable assets in relation to the Sukuk issued by the Malaysian Global Sukuk Incorporated.
• Disposal of chargeable assets in relation to the Sukuk Bank Negara Malaysia – Ijarah issued or to be issued by BNM Sukuk Berhad.
• Disposal of chargeable assets to Real Estate Investment Trusts and Property Trust Funds.
• Disposal of chargeable assets in relation to the issuance of private debt securities under Islamic principles.
• Disposal of chargeable assets:
(a) to or in favour of a special purpose vehicle; or
(b) in connection with the repurchase of the chargeable assets, to or in favour of the person from whom those assets were acquired, for the purpose of a securitisation transaction.
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