Sep 17 2012, 08:51 PM
QUOTE(kenty @ Sep 17 2012, 01:38 PM)
pay bank penalty: 15000 (assume 100% loan to ease calculation)
penalty = 3% x 400K = 12K
pay RPGT tax: 10% of (gross profit - agent fee - bank penalty) = 7000
RPGT = gross profit - agent fee - 10K tax rebate - SPA legal fees(5~6K)= 7000
bank penalty not deductable
net profit ~= 63000
66000
you should also deduct interest charged from net profit before handover to new owner.
Agent fee is standard 2% + GST ( some agent obsorb the GST )penalty = 3% x 400K = 12K
pay RPGT tax: 10% of (gross profit - agent fee - bank penalty) = 7000
RPGT = gross profit - agent fee - 10K tax rebate - SPA legal fees(5~6K)= 7000
bank penalty not deductable
net profit ~= 63000
66000
you should also deduct interest charged from net profit before handover to new owner.
RPGT ( 2 to 5 years from date of buying - S&P and date of selling (S&P ) is 5% ), I believe your unit is more than 2 years by now.
Your ROI is : Selling price MINUS
- buying price
- cost of buying ( legal & loan agreement fee ) - if any
- lost of interest for your deposit since the day one until now - just count as 3%/annum
- interest you are going to pay from now till your loan is fully settled ( buyer's bank pay to your bank loan )
- legal fee ( normally this cost can be minized if seller and buyer use the same lawyer )
- agent fee 2%+GST
- bank lock in penalty
RPGT = selling - bank penalty - agent fee - 10K tax rebate ( this one may be no more - check this to reconfirm by checking your S&P date )
Added on September 17, 2012, 9:05 pm
QUOTE(NameWai @ Sep 17 2012, 08:51 PM)
Agent fee is standard 2% + GST ( some agent obsorb the GST )
RPGT ( 2 to 5 years from date of buying - S&P and date of selling (S&P ) is 5% ), I believe your unit is more than 2 years by now.
Your ROI is : Selling price MINUS
- buying price
- cost of buying ( legal & loan agreement fee ) - if any
- lost of interest for your deposit since the day one until you collect the 2% deposit - just count as 3%/annum interest lost for your down payment paid
- interest you are going to pay from now till your loan is fully settled ( buyer's bank pay to your bank loan )
- legal fee ( normally this cost can be minized if seller and buyer use the same lawyer )
- agent fee 2%+GST
- bank lock in penalty
RPGT = selling - bank penalty - agent fee - 10K tax rebate ( this one may be no more - check this to reconfirm by checking your S&P date )
Continue :RPGT ( 2 to 5 years from date of buying - S&P and date of selling (S&P ) is 5% ), I believe your unit is more than 2 years by now.
Your ROI is : Selling price MINUS
- buying price
- cost of buying ( legal & loan agreement fee ) - if any
- lost of interest for your deposit since the day one until you collect the 2% deposit - just count as 3%/annum interest lost for your down payment paid
- interest you are going to pay from now till your loan is fully settled ( buyer's bank pay to your bank loan )
- legal fee ( normally this cost can be minized if seller and buyer use the same lawyer )
- agent fee 2%+GST
- bank lock in penalty
RPGT = selling - bank penalty - agent fee - 10K tax rebate ( this one may be no more - check this to reconfirm by checking your S&P date )
* mostly developers charge 1% as consent fee ( before issuance of strata title ) for changing ownership, Setia I am not sure - please find out.
This post has been edited by NameWai: Sep 17 2012, 09:05 PM
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