Finance Minister says not too much for 10% discount from SST exemption

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Time to rejoice for potential homeowners says an article in TheStar.  Our Finance Minister Lim Guan Eng said, “We placed the exemption because we want to boost the real estate sector. We hope to see a fall in new house prices. Otherwise, we will consider re-imposing the SST (on developers).” He was speaking to reporters at the Parliament today. SST was exempted for construction services and building material costs. He added, “For existing units that have been built, you will have to wait until Budget Day this Friday (Nov 2).” (Readers of kopiandproperty.com, please remember this sentence yeah. There should be goodies for the unsold units… maybe anyway)

Lim thanked REHDA for their support to the government initiative. He said, “I wish that it would be a 10% discount, but we will give Rehda time to work towards achieving that goal. He added, “People asked me if I’m asking too much for a 10% discount with the six percent tax exemption. I said ‘no’, we are very reasonable because we are talking about waiving all construction services, including industrial, residential and commercial. So, to developers who will benefit from the tax exemption, please pass it on to home owners.” Earlier article quoting Rehda president Datuk Soam Heng Choon here. As for the article in TheStar, click here. 

Since our Finance Minister has sort of revealed that something will be revealed for the existing units, we should be glued to the television during his announcement. Do buy the newspaper on Saturday because there will be lots of analysis too. As for my Budget 2019 wish list, let’s just say I wish for clarity in the direction the new government wishes to go and for all the ministers to work extremely hard towards what was planned. For our ministry of Housing and Local Government, I offer my assistance too if they need some ideas direct from the ground; working class Malaysian. Happy listening and waiting.

written on 30 Oct 2018

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