Living in JB 2 (Johore)

[crystal_tiong]

Yup I meant cheque from Malaysia. For example when your developer issue a cheque of say RM20k to you for compensation of late delivery, you can bank in the cheque to your account(foreigner's name) and it'll not be subjected to the daily RM10k limit. Reason is that the deposit is by cheque and not cash.

so far i dun have the luck for developers to compensate me ! NI is very prompt on billing me with every stage they completed! yes , it make sense that shouldnt restrict by the cheque amount from malaysia ....

 

[Investor]

is there any deposit limit for cash?

deposit using machine I think is 20K per day but over the counter I don't think there is any limit. Bank can't be so stupid to reject your deposit right?

Yup of course the banks would want more money from customers but the daily cash deposit limit for foreigners' account(not an account registered under a local's name) is a law set by their government to deter money laundering. If you deposit cash, they can't trace the money trail(source of fund), that's why they restrict the daily deposit if it is in 'cash'.

 

[Funds Transfer]

is there any deposit limit for cash?

deposit using machine I think is 20K per day but over the counter I don't think there is any limit. Bank can't be so stupid to reject your deposit right?

There is which will be RM 10K.

But if you could provide your S&P or payment invoice from your developer, additional deposits will be entertained.

For deposit machine, it is the same at RM 10K.

The reason for not accepting more deposits is for money laundering controls I believe.

 

[Newbie2012]

You scared me ah

I think this Buddha quote might help you.

Buddha Quote #392 - If an individual has a calm state of mind ...

If an individual has a calm state of mind, that person's attitudes and views will be calm and tranquil even in the presence of great agitation.

By Tenzin Gyatso

 

[siacw]

i use to deposit cash of more than 10K but that is a malaysian account. The bank (HSBC) did ask me to sign a form stating the source of the fund.

 

[g3abc]

is this the same service run by Ferrylink Shipping (MBF group), some years back ? wonder what happened to them,....

 

[Lord Aragorn]

The houses look very nice from the pic. What type of houses are available in this development? You've bought a bungalow?

Just semi detached and bungalows. 2 storey and 2.5 storey types for both.

 

[Stevewish]

ya lor , doesnt make sense ...

Stevenwish

is it yr neighbours complain u ?

Actually I did not stay there initially. They conducted spot checks several occasions but could not find me. I claimed that I worked very late, afternoon shift work end at 11pm and reached home around 12 plus. Finally they spot check at 1am, very "on the ball". The second occasion, they warned me again and would conduct another check but I told them i rotated to morning shift, so they came again at 5am, and I was about to leave home. I think that period was "hot" where many people buy and rent out and I was one of them.

 

[lakeview]

There is which will be RM 10K.

But if you could provide your S&P or payment invoice from your developer, additional deposits will be entertained.

For deposit machine, it is the same at RM 10K.

The reason for not accepting more deposits is for money laundering controls I believe.

Any cash deposite over 10k, will just need to fill in a form stating the reason will do. If your housing loan is with the same bank, they won't question further.
Most of the bank will have a special private room that cater for customer with huge amount of cash, so it wont be visible to others when you take up those stacks of cash.

 

[muncheah]

I guess they did that in a response to a complain. They can't be performing random checks at such wee hours right? If they do, they'll definitely receive many complains from all those innocent citizens.

I have query on the rent out HDB unit with legally: I have HDB and planning to move to HH (i bought the fairway condo) next year, can i report to HDB with legally to rent out the unit? what the procedure? how the tax?

 

[Funds Transfer]

Any cash deposite over 10k, will just need to fill in a form stating the reason will do. If your housing loan is with the same bank, they won't question further.
Most of the bank will have a special private room that cater for customer with huge amount of cash, so it wont be visible to others when you take up those stacks of cash.

Very true. The convenience of depositing cash is often understated.

 

[Investor]

Just semi detached and bungalows. 2 storey and 2.5 storey types for both.

Wow, high end development.

 

[Investor]

Very true. The convenience of depositing cash is often understated.

Any cash deposite over 10k, will just need to fill in a form stating the reason will do. If your housing loan is with the same bank, they won't question further.
Most of the bank will have a special private room that cater for customer with huge amount of cash, so it wont be visible to others when you take up those stacks of cash.

The problem with doing cash deposit is that it is not safe to carry cash of such amount to Malaysia. Moreover, you get better exchange rate for TT than for getting Ringgit in cash. So TT is safer and yet you get more Ringgit. But the depositing agent which all those money changers are using is doing the deposit for you in cash, thus all the money changers will tell you that the limit is RM10k per day. If you wanna deposit RM50k, they will do it over a spread of 5 days.

 

[crystal_tiong]

I have query on the rent out HDB unit with legally: I have HDB and planning to move to HH (i bought the fairway condo) next year, can i report to HDB with legally to rent out the unit? what the procedure? how the tax?

refer this web to find out more :

http://www.hdb.gov.sg/fi10/fi10323p.nsf/w/RentOpenMktRentOutRoom?OpenDocument

 

[crystal_tiong]

The problem with doing cash deposit is that it is not safe to carry cash of such amount to Malaysia. Moreover, you get better exchange rate for TT than for getting Ringgit in cash. So TT is safer and yet you get more Ringgit. But the depositing agent which all those money changers are using is doing the deposit for you in cash, thus all the money changers will tell you that the limit is RM10k per day. If you wanna deposit RM50k, they will do it over a spread of 5 days.

if TT will be tracked by govt ? haha ....
someone told me we need to pay overseas properties taxes in SG too ! i yet to find out whether its true coz i thought what u earn in sg u pay , what u earn in overseas , u pay to e relevant countries ....

 

[crystal_tiong]

Very true. The convenience of depositing cash is often understated.

but most of the banks does not operate on sat except HLB on even weeks , so cash deposit still limits to RM10k ....

 

[EDTBA]

if TT will be tracked by govt ? haha ....
someone told me we need to pay overseas properties taxes in SG too ! i yet to find out whether its true coz i thought what u earn in sg u pay , what u earn in overseas , u pay to e relevant countries ....

Singapore has a Comprehensive Avoidance of Double Taxation Agreement with Malaysia (http://iras.gov.sg/irasHome/page.aspx?id=812) so I don't think you need to pay tax on rental returns from your Malaysia property in Singapore.

 

[vincentck]

Bro, home fair normally won't feature audio system right? Don't remember seeing it last time I went ... Generic brand maybe have, definitely not medium to high end type ....

Not too sure; I thought I saw a few booths at HomeDec selling TVs and home theatre systems.

Yamaha is a very decent brand.. do let me know if you get discount for me too.. ..lol.... .

As for the 3D glasses, yup, if you enable your TV into 3D, u need to wear the glasses to feel the effect, without the glasses the screen will become blury..
As for the TV without the use of 3D glasses, thats Toshiba latest invension.. of course its pricy now and i think they only hv that for TV <46" for the moment.

Sure, will check out the Yamaha system. My friend is based in Ipoh, hopefully she is still working with them. I think LG is also working on glass-free 3d tv.... and you're right that they don't have 50" and above yet

 

[crystal_tiong]

Singapore has a Comprehensive Avoidance of Double Taxation Agreement with Malaysia (http://iras.gov.sg/irasHome/page.aspx?id=812) so I don't think you need to pay tax on rental returns from your Malaysia property.

thanks ! not even properties tax to pay in SG ....

jus up yr pts...

 

[Investor]

if TT will be tracked by govt ?

If it's the actual TT(telegraphic transfer) method from the bank to your account in Malaysia, there's no daily deposit limit cos the Malaysian bank knows where the money came from(which is the bank in Singapore).

Money changers tell you they they can do TT for you to Malaysia but actually they are using a depositing agent who deposits the money into your account in 'cash', that's why they are subjected to the daily deposit limit.