wow oledi received the debit note from OCBC for the first drawndown

tiz month need to start pay interest le

This post has been edited by Doraemon001: Aug 18 2009, 05:44 PM

Dinner on 10.10.09

I also want to join

Untill now, i know that the minister of finance say that all RPGT will be tax @5%,

But the Inland Revenue Department say different thing.. disposed within 1-2yrs @30%, 3 yrs @ 20% 4yrs @15% and 5yrs and above @ 5% and the calculation of the tax is using a FORMULA (whereby your gain on the disposal of property is NOT directly multiply by the tax rate)

This really boleh land....... what also can happen...This 2 deparments are going to announce the final conclusion within this few days.. lol

The acquirer of the property (ie the buyer) they need to submit the IRD CKHT 2 forms TOGETHER WITH 2% OF THE PURCHASE PRICE OF THE PROPERTIES TO THE IRD within 60 days. (that means you only pay 98% of the purchase price to the seller) If not the IRD will come and look for you if the seller is subject to RPGT. Take note of this rule.....

For the seller, they need to submit the IRD CKHT 1 forms within 60days and they need to calculate the RPGT. You can claim for refund or pay the balance of tax due if the 2% that had been retained to the IRD by the buyer is greater or (lesser) than the actual tax amount.

By the way as a INDIVIDUAL you will get a relief of RM10,000 or 10% of the chargeable gain, whichever is greater, to less out your chargeable gain and calculate the tax.

Every INDIVIDUAL will also have a ONCE IN A LIFETIME EXEMPTION when you dispose any ONE of your properties. (That menas no need to paid any RPGT for the property). So think TWICE before you elect for this ONCE IN A LIFETIME EXEMPTION.

Hope the informations will help you when you decide to sell off your property

Just attend the seminar from CTIM (chartered tax institute of Malaysia) and was informed by the speaker..

The speaker said most likely that the 5% tax rate will be applied an not the IRD formula.

http://ritawong.reapfield.com/2009/10/25/m...gains-tax-rpgt/


This post has been edited by Doraemon001: Oct 27 2009, 09:24 PM

Guys, FYI the actual height of our unit is up to the plaster ceiling of the show units..

It means if we do plaster ceiling in our future home, it will be more lower......

Anyway, the show room is quite ok for me

One more question is the waste incinerator will be install in the kitchen sink..

is it possible we switch the whole sink and the cooking place to the yard... (just like the show units..)

Taken 30May2010