So i am going to sell my first house. Thing is now i want to know how the real property gain tax calculation is done now. Ive been doing my own digging and found this site

https://www.hslim.my/en/lawyer/latest-2020-malaysia-RPGT

The calculation is pretty simple. Here is an example

Jan 1 2018 SNP i purchased is RM1,000,000 lets say
Jul 7 2020 SNP i sold is RM1,100,000 lets say

so 1,100,000 - 1,000,000 = RM100,000 my so called earning.

Since my property holding 3 years and below, im subjected to 30% real property gain tax

RM100,000 x 30% = RM30,000 i need to pay back as tax

Now on that website link above it stated below this as an example



Now does that mean that i can offset my lawyer fee, reno fee, and also commission from the RM30k i suppose to pay back for the property gain tax?

Take this case for example

Lawyer fee = RM10,000
Renovation fee = RM0 (assuming i no do any reno)
commission fee = RM23,320 (is this the sales agent property commission? RM1,100,000 x 2% comission = RM22000 x 6% SST = RM23,320?)

I got 2 question here

1) What lawyer fee, is that the lawyer fee that i engage to sell my house?
2) What is commission fee actually that we can deduct from RPGT actually? Is that the agent fee? Because if that is the selling agent fee, then the amount will become negative! RM30,000 - RM10,000 (lawyer fee) - RM23,320 (agent commission) = -RM3320!

Any advice here on selling a property and about the property gain tax would be much appreciate as i am so new to this.

This post has been edited by barney: Jul 7 2020, 04:35 PM

Yes correct for number 1 & 2. If you have losses, you can use that losses to offset any RPGT gains of other property sale you made during the same year

Yes, when it is negative there is nothing to pay to LHDN.

Your lawyer will do all the calculation on behalf of you.

Also are you aware that there is RPGT exemption going on?

ya i read about it. until next year end right? so that means we dont pay any tax if we are to sell?

Yes.