Current place I'm staying is close to 5 yrs thus no RPGT if I let go. Am I still entitle for the exemption if I sold my second prop which is below 5 yrs?

its not your insurance ncb... rpgt apply to each property. as long as yoi buy it srart coint 5 year

Rpgt exemption once in a lifetime applied to Malaysian. Many are not utilising this advantage because they are keep thinking they can use it for more profit making in the future.

Yes I understand, my question is, can I use this exemption on my second unit(below 5 yrs) since my first unit already 5 yrs (no RPTG)

Question:
Each Malaysians are entitled to once in a lifetime RPGT exemption regardless of which property he/she dispose? Similar to Xccess taikor case, can he dispose his 2nd property with exemption from RPGT?

Meaning v can dispose our either 1 property without RPGT incur?

Frankly I just got to know this "RPTG tax exemption once in lifetime" not too long ago....me newbie...lol. Am surprise quite a number of my friends don't know the existence of this entitlement.

This post has been edited by Xccess: Oct 19 2013, 01:57 PM

Yes, for first time seller. Only once in a lifetime. You can google it.

if u sold your 1st property after 5 years holding, u r not suppose to pay RPGT. So it doesn't use up your 1 life time quota.
the quota only applicable in the case of RPGT is applicable

You should know the answer right.

yes, you can utilize this exemption for any property you dispose... they don't care which property, but only can use once in a lifetime (but of course the property is RPGT applicable in the first place ie. below 5 years)...
in practice, most ppl wait until they dispose the property with the biggest gain to take advantage of this, hence they keep waiting and waiting as prices keep going up...

This post has been edited by dcwhz83: Oct 19 2013, 02:03 PM

Ok got it. Thanks.

Brother, it must be residential property, not commercial, or agricultural...

yes of course... thx for the correction

I was thinking this application only apply on the first transaction be it within RPTG period or not. Rest of the bro already gave me the answer. Thanks!

Thanks for the enlightenment guys. Will use this "exemption" wisely. Noted that it is only applicable to Residential only.

Kudos for the advice given.

the 2 relevant forms that u need to acknowledge:

1. election for RPGT exemption http://www.hasil.gov.my/pdf/pdfborang/Seks...CKHT_1976_1.pdf

2. borang CKHT 3 http://www.hasil.gov.my/pdf/pdfborang/CKHT_3_1.pdf

Appreciate the info given.

How about in spa joint names case of 2 names? Can entitle for 2 properties?

Just sharing some info I have gotten from website.


Example of Malaysia Property Gain Tax for foreigners and Malaysians:

In March 2009 – you brought a condominium at MYR 580,000
In January 2013 – you sold at MYR 670,000
After 3 years, your gain will be MYR 90,000

You can deduct these expenses paid for the property:

Legal fees and stamp duty during purchase – MYR 12,760
Loan legal fees and stamp duty during purchase – MYR 11,800
Agency fee paid to dispose your property – MYR 11,500
Renovation costs paid – MYR 10,000
Legal fee paid during selling – MYR 1,500
Total expenses paid – MYR 47,560

Net gains on the property : MYR 42,400
Tax rate to pay will be MYR 42,400 x 10% = MYR 4,240
In actual fact, you only pay approximate 5% tax rate, not 10%.
There is no difference in Malaysia Property Gain Tax Rate for a foreign-owned property title name under individuals or companies.Malaysia Property Gain Tax for Foreigners