I just realized that Malaysia has no such law, Inheritance and gift tax, compare to S'pore, Taiwan, Hong Kong, etc.

So whatever transfer from parents to children, from few hundred to few millions, will be tax free?!?

Thank you for the confirmation...so there is no need to do the tax planning for the rich ppl

No wonder those rich politician continue to 'eat money' as they have no such worries

They indeed need to pay legal fee...so? How much is the legal fee? will it cost 50% of your property value?

Inherent tax will tax u almost 50% of the inherent value...government take the money in form of taxes and use the money to develop our country or help those poor...

So now, rich ppl not subject to taxes, thus government earn lesser...government earn lesser mean spend lesser on us, or cut other subsidies...poor man suffer in the end...

Well say, i agree that one become rich for reasons, hardworking, smart, etc etc....

But there are ppl are poor for no reasons...mostly because the environment and systems...

And it's no to penalize those rich ppl...it's to balance the society by re-distribute the wealth over poor family so that the poor got chances to get good education and thus our country become more stabilize and improve...

Just my 2 cents

That's why i stated the political issue at 1st plc...

Such system will be only work if we have a clean gov / system



Erm...I'm not a rich person so i have no right to say "redistribute my wealth to the poor"

But I have promise myself to donate to those needy, if i have excessive income.

Of coz, Warrent Buffet and Bill Gates do inspire me to has this kind of thinking