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> Rpgt charges, Based on spa price or nett price ?

Tan&tan
post Jun 13 2018, 08:34 PM, updated 5d ago

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Let’s say Muthu bought 500k Property ..Developer rebate 10 percent . Means nett price is 450k . Spa price is 500k .when the Property Vped Ali wanted to buy from muthu 600k . Means spa 500k sell 600k gross earn 100k rpgt kena 35k . Or nett price 450k sell 600k rpgt kena 52,500 . Thankssss . Rpgt charge you based on what price ?
ProGamerPro
post Jun 13 2018, 09:59 PM

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QUOTE(Tan&tan @ Jun 13 2018, 08:34 PM)
Let’s say Muthu bought 500k Property ..Developer rebate 10 percent . Means nett price is 450k . Spa price is 500k .when the Property Vped Ali wanted to buy from muthu 600k . Means spa 500k sell 600k gross earn 100k rpgt kena 35k  . Or nett price 450k sell 600k rpgt kena 52,500 . Thankssss . Rpgt charge you based on what price ?
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based on spa price
WaCKy-Angel
post Jun 13 2018, 10:04 PM

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QUOTE(ProGamerPro @ Jun 13 2018, 09:59 PM)
based on spa price
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to be exact, based on SELLER's SPA
in this case means from 600K
Pugbunny
post Jun 13 2018, 10:08 PM

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Follow black and white
Tan&tan
post Jun 13 2018, 10:30 PM

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Noted and thanks but heard lhdn if kacau they’ll go developer office and check their invoice. Then kena . Is that true
Tan&tan
post Jun 13 2018, 10:31 PM

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QUOTE(WaCKy-Angel @ Jun 13 2018, 10:04 PM)
to be exact, based on SELLER's SPA
in this case means from 600K
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Apa ni . Muthu is seller . His spa just 500k apa 600k pulak
AskarPerang
post Jun 14 2018, 12:01 AM

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QUOTE(Tan&tan @ Jun 13 2018, 08:34 PM)
Let’s say Muthu bought 500k Property ..Developer rebate 10 percent . Means nett price is 450k . Spa price is 500k .when the Property Vped Ali wanted to buy from muthu 600k . Means spa 500k sell 600k gross earn 100k rpgt kena 35k  . Or nett price 450k sell 600k rpgt kena 52,500 . Thankssss . Rpgt charge you based on what price ?
*
Let's make this example more complex a bit:

Muthu bought the property with SPA price of 500k.
Assume undercon property legal fees FOC (absorb by developer all)
Renovation done 20k to make his property more sellable.

Agreeable selling price 600k. But Ali requested to mark up loan so that he doesn't need to fork out so much downpayment.
Bank valuation 650k for the unit so Ali and Muthu agreed to that selling price.

So how much is the RPGT that Muthu kena for the scenario above?
jcts
post Jun 14 2018, 10:54 AM

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QUOTE(Tan&tan @ Jun 13 2018, 10:30 PM)
Noted and thanks but heard lhdn if kacau they’ll go developer office and check their invoice. Then kena . Is that true
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Where did you heard from? Your source reliable?
I know where you are coming from and we are on the same boat. LOL

My source told me is based on prop market price and she is lawyer.
ZoomGarde
post Jun 14 2018, 02:16 PM

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Not like this kira rpgt one

Of cuz the vendor acquiring price is based on SPA.

Vendor need to less out a few cost

1. Acquiring cost (lawyer fee, MOT)
2. Maintenance cost (reno, maintenace)
3. Disposal cost (lawyer fee, agent fee)

After that, got rebate on chargeable rpgt.. if not wrong is rn5k.

So wont be tat much after all

This post has been edited by ZoomGarde: Jun 14 2018, 02:17 PM
Looi90
post Jun 14 2018, 03:24 PM

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QUOTE(ZoomGarde @ Jun 14 2018, 02:16 PM)
Not like this kira rpgt one

Of cuz the vendor acquiring price is based on SPA.

Vendor need to less out a few cost

1. Acquiring cost (lawyer fee, MOT)
2. Maintenance cost (reno, maintenace)
3. Disposal cost (lawyer fee, agent fee)

After that, got rebate on chargeable rpgt.. if not wrong is rn5k.

So wont be tat much after all
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MOT , maintainence charge and sinking fund also considered? then i must confront my current lawyer as i just sold a unit, but he never ask for these as to do rpgt reduction proof for my case, gosh i might rugi few k due to this
ZoomGarde
post Jun 14 2018, 03:56 PM

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QUOTE(Looi90 @ Jun 14 2018, 03:24 PM)
MOT , maintainence charge and sinking fund also considered? then i must confront my current lawyer as i just sold a unit, but he never ask for these as to do  rpgt reduction proof for my case, gosh i might rugi few k due to this
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Sorry not maintenance fee. Is cost of repair and maintenance. Like repaint house.. repair leaking..
YeohKW
post Jun 14 2018, 03:57 PM

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QUOTE(AskarPerang @ Jun 14 2018, 12:01 AM)
Let's make this example more complex a bit:

Muthu bought the property with SPA price of 500k.
Assume undercon property legal fees FOC (absorb by developer all)
Renovation done 20k to make his property more sellable.

Agreeable selling price 600k. But Ali requested to mark up loan so that he doesn't need to fork out so much downpayment.
Bank valuation 650k for the unit so Ali and Muthu agreed to that selling price.

So how much is the RPGT that Muthu kena for the scenario above?
*
RPGT will based on the profit earned. In this scenario, selling price is RM650K minus RM500K SPA price plus whatever deductible amount such as agent fees, renovations fees, etc.

But seller can ask buyer to pay the difference in the extra RM50K mark up price as seller didnt received that money. It's an agreement between both parties
jpaul
post Jun 14 2018, 07:12 PM

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It is based on nett price

I just kena and now I need to pay more tax and penalty due to didn't declare the discount/rebate


Tan&tan
post Jun 15 2018, 10:56 AM

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QUOTE(jcts @ Jun 14 2018, 10:54 AM)
Where did you heard from? Your source reliable?
I know where you are coming from and we are on the same boat. LOL

My source told me is based on prop market price and she is lawyer.
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So pandai a you
Tan&tan
post Jun 15 2018, 10:56 AM

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QUOTE(jpaul @ Jun 14 2018, 07:12 PM)
It is based on nett price

I just kena and now I need to pay more tax and penalty due to didn't declare the discount/rebate
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Yes this is what I heard
hanhanhan
post Yesterday, 03:12 PM

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QUOTE(AskarPerang @ Jun 14 2018, 12:01 AM)
Let's make this example more complex a bit:

Muthu bought the property with SPA price of 500k.
Assume undercon property legal fees FOC (absorb by developer all)
Renovation done 20k to make his property more sellable.

Agreeable selling price 600k. But Ali requested to mark up loan so that he doesn't need to fork out so much downpayment.
Bank valuation 650k for the unit so Ali and Muthu agreed to that selling price.

So how much is the RPGT that Muthu kena for the scenario above?
*
Subsale SPA price 650k

minus
-SPA price 500k
-reno cost 20k
-agent fee
-legal fee (first loan & first spa) (if all absorb by developer then cant claim)
-MOT (if already done)
-subsale legal fee

plus
developer rebate (50-50 chance of getting found out by LHDN if dont report)

balance minus 10% or 10k whichever higher (pengecualian di bawah perenggan 2 Jadual 4)

= nett profit x RPGT % (based on year)


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