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LHDN valuation higher than bank valuation, can nego to reduce stamp duty ?
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seanooi880327
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 Feb 2 2017, 03:06 PM
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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 ?
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seanooi880327
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Feb 2 2017, 03:39 PM
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QUOTE(CK15 @ Feb 2 2017, 03:31 PM) Check with your lawyer any succesful appeal cases b4. If yes, you may try to appeal by providing SPA and valuation report through your lawyer. Lawyer did mentioned there's a successful appeal case which the husband and wife divorced and they show the proof on that. QUOTE(gks @ Feb 2 2017, 03:32 PM) That will be strange. RPGT is charged on the capital gain based on SPA price. If u sell (even if you just transfer) to your partner at SPA price regardless what is the market price, there shouldn't be any chargeable RPGT. It is different issue with MOT. That's what I thinking also at first. However they will based on market value to impose the tax. Unless if you are making loss there might be different story. |
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seanooi880327
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Feb 2 2017, 03:41 PM
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QUOTE(BEANCOUNTER @ Feb 2 2017, 03:15 PM) that why its not a good idea to joint name to buy property where your relationship is not recognised by law. 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. about 20% gain. Hence I already pay about RM6k. But actual value unsure yet. If lower, then will have some refund. Look like can't miss it and have to pay. |
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seanooi880327
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Feb 2 2017, 04:23 PM
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QUOTE(samkps @ Feb 2 2017, 04:19 PM) Did you ask the lawyer how much extra charge he will impose if he helps you to do the appeal instead? I didn't ask. he said I can go to LHDN to do the appeal myself as there successful case happened before only. |
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