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> How GST affect on Residential Property's Price

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TSblackswan88
post Apr 17 2014, 02:48 PM, updated 10y ago

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Hi all,
On last month, GST bill tabled in the parliament for first reading already. However, the rate of the tax is still haven't been announced yet. Besides, there is also no announcement on which goods fall in exempt supplies good, zero rated goods and standard rated goods.
However, based on previous announcement in Budget 2014, residential property will be fallen into exempt supplies good categories.
I wish to buy a house in next two year. However, this GST scheme worry me as i dont know what will it cause to the residential property's price in the market. When i read some articles in newspaper and on the internet, i found that some opinion will suggest that housing price may increase when GST been introduces while some suggest that it will not be affected by this tax scheme.

U all may read on these few online articles which suggest the mixed opinion on effect of GST toward residential property's price:
http://www.thesundaily.my/news/865991
http://loanstreet.com.my/learning-centre/H...Property-Market
http://www.theedgemalaysia.com/property/26...rall-costs.html

Do anyone have any opinion on this effect of GST? Do yours think that the price of house increase, reduced or will not affected by GST?

This post has been edited by blackswan88: Apr 17 2014, 04:04 PM
csneo
post Apr 17 2014, 02:52 PM

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transport, raw material such as bricks, wood, cements, been charged with GST. So do u think developer will absorb the cost?

kamikraze
post Apr 17 2014, 02:56 PM

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price of everything will rise.. u name it.. later go toilet also got gst..
recoil
post Apr 17 2014, 02:58 PM

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QUOTE(kamikraze @ Apr 17 2014, 02:56 PM)
price of everything will rise.. u name it.. later go toilet also got gst..
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woah.. kencing also kena tax? need to scoop out a few ml for tax
katijar
post Apr 17 2014, 03:03 PM

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salary got increase? no means less people can afford to buy new property, less demand, so developer cut price. believe it or not. up to you.
csneo
post Apr 17 2014, 03:03 PM

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either directly or indirectly. either it show in receipt 6% gst, or the price already included with gst.
TSblackswan88
post Apr 17 2014, 03:05 PM

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QUOTE(csneo @ Apr 17 2014, 02:52 PM)
transport, raw material such as bricks, wood, cements, been charged with GST. So do u think developer will absorb the cost?
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Wah!! then is it means that developer will increase the housing price to cover their GST burden is it??
TSblackswan88
post Apr 17 2014, 03:06 PM

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QUOTE(katijar @ Apr 17 2014, 03:03 PM)
salary got increase? no means less people can afford to buy new property, less demand, so developer cut price. believe it or not. up to you.
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Then u means GST will cause housing price to be reduced is it??seems not so logic unsure.gif
luenywoon
post Apr 17 2014, 03:10 PM

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QUOTE(katijar @ Apr 17 2014, 03:03 PM)
salary got increase? no means less people can afford to buy new property, less demand, so developer cut price. believe it or not. up to you.
*
Maybe. But this is trying to guess the future.

In terms of GST, this article may give a good picture on how things work

http://loanstreet.com.my/learning-centre/H...Property-Market
katijar
post Apr 17 2014, 03:10 PM

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QUOTE(blackswan88 @ Apr 17 2014, 03:06 PM)
Then u means GST will cause housing price to be reduced is it??seems not so logic unsure.gif
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ok. I have less to spend. I want to buy a new house. This is your logic. sekian.
csneo
post Apr 17 2014, 03:11 PM

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Housing pricing is hardly down. Unless housing development area is really no potential, bad location and really really bad sales.
Kevin Chan
post Apr 17 2014, 03:13 PM

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this is the nth number of GST thread open already ...

someone once summarised this nicely

government already say they will increase in revenue when GST implement ... so which means they tax more than what they currently tax, how can price drop ? vmad.gif
TSblackswan88
post Apr 17 2014, 03:15 PM

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QUOTE(csneo @ Apr 17 2014, 03:11 PM)
Housing pricing is hardly down. Unless housing development area is really no potential, bad location and really really bad sales.
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Ya, agree with u..but with GST, will the price of house increase in larger magnitude compared than in the situation that without GST?
TSblackswan88
post Apr 17 2014, 03:16 PM

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QUOTE(Kevin Chan @ Apr 17 2014, 03:13 PM)
this is the nth number of GST thread open already ...

someone once summarised this nicely

government already say they will increase in revenue when GST implement ... so which means they tax more than what they currently tax, how can price drop ?  vmad.gif
*
Ya, i know that..but since residential property fall under exempt supplies good categories, maybe the price of house will not increase due to GST. Not meh?

This post has been edited by blackswan88: Apr 17 2014, 03:17 PM
butthead76
post Apr 17 2014, 04:12 PM

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QUOTE(blackswan88 @ Apr 17 2014, 03:16 PM)
Ya, i know that..but since residential property fall under exempt supplies good categories, maybe the price of house will not increase due to GST. Not meh?
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Unless all the raw materials and services to building a house falls under exempt supplies good categories. rclxms.gif
Limmf77
post Apr 17 2014, 04:28 PM

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QUOTE(katijar @ Apr 17 2014, 04:03 PM)
salary got increase? no means less people can afford to buy new property, less demand, so developer cut price. believe it or not. up to you.
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Developer won't cut price but quality yessssss
TSblackswan88
post Apr 17 2014, 04:37 PM

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QUOTE(butthead76 @ Apr 17 2014, 04:12 PM)
Unless all the raw materials and services to building a house falls under exempt supplies good categories. rclxms.gif
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Damn it man mad.gif , means that we need to help the developer to cover their increase input cost due to GST rite..it is so unfair cry.gif
csneo
post Apr 17 2014, 04:58 PM

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the world never been fair. Try to earn more. if capable, become developer.
skcJVN
post Apr 17 2014, 05:22 PM

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QUOTE(csneo @ Apr 17 2014, 04:58 PM)
the world never been fair. Try to earn more. if capable, become developer.
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If can make it, become government or black market women behind rules maker . Lol

This post has been edited by skcJVN: Apr 17 2014, 05:23 PM
talkmore
post Apr 17 2014, 05:31 PM

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QUOTE(blackswan88 @ Apr 17 2014, 02:48 PM)
Hi all,
On last month, GST bill tabled in the parliament for first reading already. However, the rate of the tax is still haven't been announced yet. Besides, there is also no announcement on which goods fall in exempt supplies good, zero rated goods and standard rated goods.
However, based on previous announcement in Budget 2014, residential property will be fallen into exempt supplies good categories.
I wish to buy a house in next two year. However, this GST scheme worry me as i dont know what will it cause to the residential property's price in the market. When i read some articles in newspaper and on the internet, i found that some opinion will suggest that housing price may increase when GST been introduces while some suggest that it will not be affected by this tax scheme.

U all may read on these few online articles which suggest the mixed opinion on effect of GST toward residential property's price:
http://www.thesundaily.my/news/865991
http://loanstreet.com.my/learning-centre/H...Property-Market
http://www.theedgemalaysia.com/property/26...rall-costs.html

Do anyone have any opinion on this effect of GST? Do yours think that the price of house increase, reduced or will not affected by GST?
*
Due to new policy & GST next years.
New buyers need to bear the bank interest during construction & also the GST tax for developer billing cost...that mean if bank interest is rm600,you will be charge 6%-10% GST (yet to know by 2015) from the developer aka bank.
Tax money go to government pocket.
House cost sure increase,house price will maintain but you house size became smaller.

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