Feb 2 2017, 03:15 PM
QUOTE(seanooi880327 @ Feb 2 2017, 03:06 PM)
I facing situation like these:
Me and my partner bought a property from developer at 398k In 2013.
The property is VPed now and I decided to take out my name from SNP and Loan at 398k from SNP price. Means selling my 50% share to my partner in this case
According to lawyer, LHDN still will charge RPGT to me because the market value is higher now despite I did not make any profit and selling at SNP price.
Is that happen ?
that why its not a good idea to joint name to buy property where your relationship is not recognised by law.Me and my partner bought a property from developer at 398k In 2013.
The property is VPed now and I decided to take out my name from SNP and Loan at 398k from SNP price. Means selling my 50% share to my partner in this case
According to lawyer, LHDN still will charge RPGT to me because the market value is higher now despite I did not make any profit and selling at SNP price.
Is that happen ?
yes.....RPGT will be imposed on 50% on your share.
But I wonder if you bought in 2013, how much profit you will make? 15-20%? after minus legal fee and etc....how much net profit are we talking about?
or if you can wait.....wait til 2019 baru transfer when the rpgt is zero.....but then....your property price might go up further.....making the situation even harder.
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