Property investment is also about paying taxes on time yeah. There’s really no such thing as I will pay my tax after I have sold my property. Sounds familiar? Yeah, those stratified owners saying to themselves that they should not be paying the maintenance fees because they were not staying there, no enjoying anything and thus do not need to pay the maintenance fees until someone buys over their place or when someone starts renting. By the way, if you are one of those owners and you believe you can run away from paying, I hope you are wrong and that the JMC or the management committee (MC) does their work efficiently. Here’s that earlier article. Strate Homes and the JMC, MC and COB
Many times, we are the result of what we did. If enforcements were not strict for example, that’s when everyone thinks they do not need to pay. Just look at the police summons for example here in Malaysia versus any government related FINES in Singapore for example. One side pays when there’s that anticipated discount. Please stop these discounts. Another side pays promptly and almost immediately because they are worried for the next steps from the authorities which are not accurate and FAST. Haha. Now, in Penang, a final warning has been issued by the Chief Minister. Please listen and comply.
Article in edgeprop.my here. Chief Minister Chow Kon Yeow said the state government is still owed land and parcel taxes of RM65 million. He has instructed the District and Land Offices to send reminders to the owners involved to settle their tax arrears before more stringent legal measures are imposed. He said (I am very sure with a stern tone), “I would like to remind land and parcel owners in Penang to settle the past tax arrears (for land and parcels) as soon as possible because those involved may be subjected to forfeiture of their land or parcel.” He added, “The State government has agreed to extend the tax payment period until Dec 31 without imposing any late payment charges.” Article in edgeprop.my here.
Please take this as a stern warning yeah from the chief minister. Let me remind my wife to pay as soon as she receives the notice from the council. As for stratified owners, we should remember that it’s detrimental to the overall value when the maintenance is not carried out simply because there’s not enough funds. Once the facilities start to break down, repairs will be expensive and the whole development will be in jeopardy. Trying to sell it later meant even the prices will fall. Everyone loses. This is why if you do not pay, I hope the council comes after you SOONEST possible. Not just for Penang properties yeah. For all Malaysian properties especially KL / Selangor where I stay today. Happy investing and paying taxes on time.
Next suggested article: Leaking units and maintenance fees