support@kopiandproperty.com

Advertisements

Advertisement Banner

RPGT removal is good for the property market?

tax

RPGT removal is good for the property market? After 6 years yeah.

Yes, RPGT is needed as it serve a purpose

I am someone who believes that Real Property Gains Tax (RPGT) is something beneficial for the property market. I would not want someone to come in and do excessive speculation and caused the property price to go up too fast and then when it collapses, affect everyone who owns a property.

However, it should not be forever (no matter when I sell my property)

However, I cannot accept that there is a 5% RPGT when someone sells his / her property even if the property has been owned for over 5 years! Just do not do all these because the GST was foolishly abolished okay… Bring the GST back and if necessary, start from 3 or 4%. Can definitely slowly move it up like how many other countries have been doing. Relying on SST is NOT a good decision when it’s proven that GST is a superior option even if not perfect.

So, now we have a decision on RPGT once someone has held the property for 6 years.

Article in malaymail.com Malaysia Real Estate and Housing Developers’ Association (Rehda) says that the removal of the Real Property Gains Tax (RPGT) will help invigorate the Malaysian property market and eventually translate into a positive multiplier effect on the economy.

Its president, Datuk Soam Heng Choon said, “The RPGT was initially introduced to curb speculation when the property market was buoyant but under the current soft market conditions, we welcome the government’s move for the removal.”

Finance Minister Datuk Seri Tengku Zafrul Abdul Aziz, when tabling Budget 2020 in the Dewan Rakyat yesterday, said the government will no longer impose the RPGT for property disposals by individual citizens, permanent residents and other companies starting from the sixth year onwards. Please do read the full article here: Article in malaymail.com

Yes, now I will be happier when I sell my next property

The next property I intend to sell is over 6 years, so now I can save over RM20,000 if I successfully sell it. Definitely a wise decision and a good one because RPGT is NOT supposed to be a source of income. It is supposed to deter the property market from too many speculative activities.

Yes, now everyone can visit property sales galleries again. Please keep asking a lot of questions before ever buying one okay. Happy deciding.

Property News Malaysia? Sign up for daily investment news updates (FREE since Nov 2013 and FOREVER). Alternatively, Follow me on Telegram here.

Please LIKE kopiandproperty.com FB page to get daily updates about the property market beyond kopiandproperty.com articles. Else, follow me on Twitter here.

Next suggested article: Due Diligence is needed, not simply trust everything people say

Header Photo by Nataliya Vaitkevich from Pexels

**In Article Advertisements Banner

Leave a Reply

Subscribe to Blog via Email

Few seconds to subscribe for FREE and get property investment tips, latest financial and property news and more.

Join 2,827 other subscribers.
Motion arrow towards right
Facebook
Twitter
LinkedIn
Motion arrow towards right
Charles Tan The Founder The Writer Kopiandproperty
Charles Tan

Charles is Founder of kopiandproperty.com He writes from his investment experience for the the past 20 years in investments including property, stock, unit trust and more as well as readings and conversations with many property gurus in the industry. kopiandproperty.com is an independent property blog which is not affiliated to any media company, property developer or even real estate agencies.

Advertisements

Advertisement Banner

Facebook Comment

Table of Contents

Most Recent Posts

join the family

Like us for daily investment news and more

Hit the like

%d