Can be said that it doesn't have much impact from this RPGT. Business as usual. Go Go Go.

I didnt say that affordability depends solely depends on credit availability. Its a key factor though........whether u like it or not.

Im not an economist, can you pls explain to us how does slashing MOF to 70% and 80% will increase affordability?

The whole curb property speculation justification is pure rubbish, the government is seeking to boost its revenue.

The 5% RPGT will be passed to home buyers since it applies across the board including the middle and lower income groups; it just means affording their homes becomes tougher.

Ultimately the governments aim is to line their pockets with money.

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Added on October 27, 2009, 10:48 amWhy the government needs the extra moolah from your pockets?

Sauce
Government losses can reach RM28bil a year – or more due to overpayment

Afterall Acer laptops are not cheap, MARA paid RM84,640 for two Acer Aspire 5052 laptops.

This post has been edited by aaronpang: Oct 27 2009, 10:48 AM

RPGT Act states that each individual is entitled to the exemption of RPGT once in a life time.

However, if the said property has 7 owners. If only 2 of them want to apply for the exemption, is it possible?

The implementation of RPGT is good for the long term, but implementing it right now, without a list of exemptions, is quite stupid.

1. The implementation at 5% irrespective of number of years of acquisition is unfair.
- Consider if a person who has been living in his home for 30 years in PJ. Then he retires and want to relocate, upgrade to a larger home or downgrade to a smaller home. The gain on selling his home today will be a huge difference from his buying price 30 years ago. Therefore, the 5% tax on his gain is HUGE. But it does not mean he is selling a property due to speculating, because most buyers of properties for more than 5 years are more likely a home-occupier, and yet they would be burderned by the RPGT.

2. The Malaysian property sector is just recovering from a downturn, and then the government tries to "foolishly shock" it.
- The RPGT will adversely affect the recovery of Malaysian properties at all levels, and will dampen the interest of foreign buyers for highend properties. So many developers who are getting ready to launch new homes in the next few months have shown their displeasure and they are now considering "Pause" and "Gauge" the market conditions before launching.

3. Given the current demand of first-time buyers or rather the increasing urban-working young families, the properties in most strategic areas around Klang Valley will continue to rise.
- If the RPGT's objective is to reduce speculative prices, then it will only work in the very short-term. People and developers will eventually hike up the prices to include the RPGT. And this causes market distortion and truly unfair to first-time buyers.

4. If the seller have incurred huge amount in loan payments in mortgages etc, does that include in the amount of selling price as to reduce his gains to be taxed?

This post has been edited by accetera: Oct 27 2009, 11:36 AM

I do think thats this will be the case, It ain't difficult for seller to jack up the price by 5 %. But it'll make a hell of difference to first time buyer. Wonder why Gov not wait till the economy getting more stable.

BTW never knew the Acer laptops cos so much & its not latest specs to boot

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Added on October 27, 2009, 12:40 pmto add to your question, is it possible to opt out of exemption? I mean is it possible to hold the exemption?

& also I'd like to ask that if there's 2 name in a property so does it mean that if both will not entitle for another exemption in future, in case they opt for it now?

This post has been edited by vreis: Oct 27 2009, 12:40 PM

Singapore's idea (implementation postponed) of only taxing those who sell more than 2 props in 4 years. That will then only affect speculators.

i guess ... the gmon know the majority people who play property.... are making $$$
this decision is made for long term as they wan people to buy the gmon build home. (2020)
gmon implement RPGT for flippers, so when you flip...gmon can enjoy some flop.

Changing that MOF will collapse the Real Estate market, forcing banks out of business, thus creating more unemployment. Soon we will have a recession.

So when they gonna reduce it, I can't wait.
I definitely can afford it.

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Added on October 27, 2009, 1:17 pm"It will be as when a man who was going on a journey called in his servants and entrusted his possessions to them.
To one he gave five talents; to another, two; to a third, one--to each according to his ability. Then he went away. Immediately the one who received five talents went and traded with them, and made another five.
Likewise, the one who received two made another two.
But the man who received one went off and dug a hole in the ground and buried his master's money.
After a long time the master of those servants came back and settled accounts with them.
The one who had received five talents came forward bringing the additional five. He said, 'Master, you gave me five talents. See, I have made five more.'
His master said to him, 'Well done, my good and faithful servant. Since you were faithful in small matters, I will give you great responsibilities. Come, share your master's joy.'
(Then) the one who had received two talents also came forward and said, 'Master, you gave me two talents. See, I have made two more.'
His master said to him, 'Well done, my good and faithful servant. Since you were faithful in small matters, I will give you great responsibilities. Come, share your master's joy.'
Then the one who had received the one talent came forward and said, 'Master, I knew you were a demanding person, harvesting where you did not plant and gathering where you did not scatter;
so out of fear I went off and buried your talent in the ground. Here it is back.'
His master said to him in reply, 'You wicked, lazy servant! So you knew that I harvest where I did not plant and gather where I did not scatter?
Should you not then have put my money in the bank so that I could have got it back with interest on my return?
Now then! Take the talent from him and give it to the one with ten.
For to everyone who has, more will be given and he will grow rich; but from the one who has not, even what he has will be taken away.
And throw this useless servant into the darkness outside, where there will be wailing and grinding of teeth.'

This post has been edited by jasonhanjk: Oct 27 2009, 01:19 PM

u r an agent?which area r u covering?

I cover Penang.

yep.. which is why im all for it

i was earlier replying to how lowering the personal taxes etc was just transferred to the rpgt here when its not entirely related.

both are a help to the general masses = middle and lower income groups like myself

im all for the 30% tax within 2 years... its so damn expensive to stay anywhere in kl (landed), may be forced to move to shah alam.. even then setia alam oso not dat cheap...
cwaaazy

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Added on October 27, 2009, 8:26 pmi agree with some parts of what zzzzzz52 mentioned too though...
as long as it helps the poor, dats what govmt should do.. not just help the rich investors or 'elite' people and turn their backs on the masses.
the rich will still make money, but slightly lesser and will help the poor more.

RPGT FTW


This post has been edited by sshahar9: Oct 27 2009, 08:26 PM

Tax to help the poor, haha.
The more you help the poor, the poorer they become.

help the poor how ?

sellers/flipers will include the tax in for buyer to absorb.
if dont start flipping & making money, we only end up buying (you know what)
property is the only way you score big, if you on the right track.

as i know they never help any poor before except their servants.
(got house, land, farm, car. etc) what ever happen, their servants always cukup makan wan.

they will help the poor by selling their own project (like alam prima) as their prices is not cheap also.

Help the poor? I think the government seriously need to help themself 1st. RM88k for 2 laptop? Getting numb of hearing this kind of news every year.

the rich can afford to buy hi-end property,
got chance they will also sapu the middle or low end wan.

soon here might be like hong kong, many ppl will Q like crazy, 1 fella go in buy the whole lot ... will this happen ?

i dont think for all cases, the cost of rpgt will be passed to the buyers. probably the hot selling ones will see an increase in price. the not so hot selling places, buyers are starting to panic ?

i usually just shortcut my sentences and expect people to understand.. mebe i should write full.
the lowering income taxes i mean help the poor, have slightly more disposable income.
the return rpgt and also 30% in 2 years, might, some of it, once in gov coffers, trickle down to the rakyat in subsidies or whatever projects.

did i struck a nerve or something? haha.. other people are getting more off topic in replies.
anyway yesterdays star in 1st page biz section they mentioned a few comments about the rpgt. so im a bit right i guess if they oso say it may lower speculative buying.

asking something about the exemption thing (the last one)

PR of how many years to be qualified?

5% again...
haiz...
what the.......!!!