dear all,

need some help...

I am selling my house

The agent lawyer told us that we (the seller) need to put a 30k deposit with ldhn before the relevant government bodies agree to proceed with the processing of the documentation

FYI. I am selling my house lower than the original purchase price so by right there's no RPGT..

when I check the website, it also does not mention that the seller needs to pay any deposit with ldhn..

i dont have any other lawyer friend to check.. so i wonder if i can get some advise here..

thank you

The lawyer will keep 10% of the money paid by buyer for RGPT purposes. Seller does not need to fork out money.

Why selling lower than original price no need pay RGPT ?

if the selling price is lower than the original purchase price.. there's no gain... so according to the ldhn, there's no need to pay.

Time to change your lawyer. Lawyer need to retain 3% from the 10% deposit paid by the purchaser for RPGT purposes. If there are no RPGT, it will be refunded to you later on.

Since when lawyer keep 10% for RPGT purposes? So if buyer pay 10% deposit and none goes to seller? You sure bohhhhh.... new ruling?

RPGT rate is based on Your selling Gain, so if is no gain means no tax payable.
Gain = RM0 , meaning RM0 x __% = RM0
http://www.hasil.gov.my/bt_goindex.php?bt_...nit=1&bt_sequ=2

U also may choose to having the 1 life time exemption (property gain waiver), if u really has gain on your selling of property.

Never know Seller has to deposit 30k for such things. Try double check, it may be other things, ie. outstanding with authority / etc.

eh wait i think is not more than 5%
Its not taken from the deposit.

If not taken from deposit then who pay in the first place?
Buyer fork out 10% deposit + not more than 5% for RPGT purposes?

Will update again.. I meeting the agent to clarify again...

if there is no paper gain, then there is no need to retain 3% of the selling price to pay for RPGT.

retention sum is 3% for local and 7% for foreigner.

This retention sum is to be taken out of 10% deposit that the seller should get upon signing the SPA and it's to be paid to the buyer's lawyer (who then has the responsibility to pay to LHDN within 60 days from the SPA date)

usually seller will get 10% of the selling price as a deposit upon signing S&P. If there is RPGT payable, then the buyer will pay their lawyer 3% (as retention sum) and then the balance 7% to the seller upon signing S&P (or the percentage the other way around if the seller is a foreigner).

source: i'm a lawyer.

This post has been edited by hanhanhan: Apr 25 2019, 11:37 PM

thank you for the information..
really appreciate it..

May I know if the buyer apply government loan they are no need to pay 10% downpayment for the purchase? How long is the process for applying government loan and is it good idea to using only 1 lawyer?

if subsale case, then good luck trying to persuade the seller to take absolutely zero upon signing SPA.

usually you would need to pay the 10% out of your own pocket, then once u get the loan released, the seller lawyer will reimburse it to you.

as for second part of the question, it depends who the lawyer is acting for. If you're the seller, and the lawyer act for the buyer, the loan will be released to the buyer's lawyer and not your own lawyer (since you don't have one).

Good day,
Would like to ask about this 3% retention sum.
How long will LHDN required to calculate and refund the amount, assuming I submit official receipt of the cost involved when purchasing and selling the property (such as legal fees, agents fees, etc).

And to whom should I check after this? As according to lawyer, the buy/sell transaction already completed. And they mention will take a long time for LHDN to revert back this 3% retention sum. And suggest me to check direct to LHDN.

before Malaysia Baru, it takes about 6-12 months.

currently we still have no idea on the refund/calculation period.

the current climate in LHDN is that if there is shortfall to be collected (from the seller) then their calculation will be very fast. If LHDN needs to refund money................u know la.

and yes, check with LHDN directly. usually they layan owners more than lawyers.

This post has been edited by hanhanhan: May 3 2019, 08:48 AM

Another question on the new ruling for RPGT beyond 5 years. My lawyer informs that no retention sum is required and LHDN will directly contact the owner if its after 5 years disposal. Is it true? Or still the same procedure applied?

good question..now have to pay 5% for props sold after 5 years..but it is still not clear how much should be retained if any?

Still same, 3% if you're Malaysian citizen and 7% if you're not

% based on selling price

This post has been edited by hanhanhan: May 6 2019, 01:37 AM

Hi I am buying over my parents house.

Original Purchase Price - RM 98,000

I buy from them at RM250,000.

Do they exempted from paying RGPT? Coz i need to pay them for the Tax.

I have some constraints in withdrawing from my EPF Account. The EPF Office mentioned they need Strata Title to be issued under my name, and my Lawyer said, it depends on the Admin girl who works in Developer Office.

I am seriously stuck here...

Please help me.