Need help on Property Transfer, Legal Advice
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 Mar 2 2010, 11:35 AM
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#1
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3,188 posts Joined: Jul 2007 From: A place called "home"  
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QUOTE(Fusion @ Mar 2 2010, 11:21 AM) i was told that there is tax involve if we sell the property in less than 5 years......but a lawyer told me that there won't be tax is the property is being sold at the same value or below market value. that means if there is no value gain on the seller side, then there wont be any tax....is this true? TQ   correct....if you make a capital loss, you can even claim it against future capital gain from selling property in the future (for less than 5 years) |
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Mar 2 2010, 11:49 AM
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#2
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Senior Member
3,188 posts Joined: Jul 2007 From: A place called "home"
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QUOTE(Fusion @ Mar 2 2010, 11:41 AM) thanks a lot... so i pay her RM30k for the furniture and renovation...do i have to declare this in the new S&P or can i just pay her without declaring....cos if i dont declare and just pay her without going thru lawyer....the S&P is just name transfer ...easier...doesnt involve buying and selling right? ya, you can just pay her "under table" and get the transfer of name, without the buying and selling transaction - it will involve lawyer no matter how |
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