GST on property?
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 Mar 26 2010, 08:15 PM, updated 16y ago
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#1
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Junior Member
44 posts Joined: Jul 2007  
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heard from a sales agent says that recently the transaction on buying property had been huge because May 2010 onwards, gov will incure 5% GST on all property buying. meaning if your house is supposed to cost you 300K, now it will cost you 315K after implementation of 5% GST. this sound scary. is that true?
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Mar 26 2010, 08:23 PM
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#2
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Junior Member
232 posts Joined: Jan 2003
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5% GST base on agent commission or what?
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Mar 26 2010, 08:28 PM
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#3
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Junior Member
44 posts Joined: Jul 2007
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QUOTE(steamboat @ Mar 26 2010, 08:23 PM) 5% GST base on agent commission or what? no, not commision. it's the property purchasing price. |
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Mar 26 2010, 09:15 PM
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#4
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Junior Member
354 posts Joined: Jun 2008
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Not sure whether it is true because government already collecting stamp duty from S&P & property gain tax.
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Mar 27 2010, 09:23 AM
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#5
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Senior Member
3,188 posts Joined: Jul 2007 From: A place called "home" 
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residential property is exempted from GST....
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Mar 27 2010, 09:56 AM
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#6
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Senior Member
924 posts Joined: Dec 2006 From: Kepong
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it is really scary if it is real... 5% really killing... stamp duty and property gain tax already cost lot... >.<
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