i saw on the star Thursday, Dec 06:
http://biz.thestar.com.my/news/story.asp?f...95&sec=business

newbie here, but as the new said, it will be exempted, which is a good news rite ?
suppose the RPGT will tax us at least 20% of the selling price when we want to sell to second buyer, unless we keep the property until 5th years.

if it's true then..wow!!

Yes its true you don't have to pay RPGT when disposing of your house...

Old news already... its already in place since April if I'm not mistake...

It was in place during may/june

and the money is tax free, a great way to launder your money from other "ventures" to make it tax free, want to know how? ask me

This post has been edited by bryanyeo87: Dec 7 2007, 02:17 PM

so the tax aleady exempted long ago..


care to explain more? RPGT already exempted, what's more tax left ? assessment rate?, quit rent? can avoid those ?

money earn from own property sale is considered as capital gain, non-taxable as far as i know.

of course im willing to explain

A point to consider first, tax evasion is illegal with quite some heavy punishment.

but tax avoidance is legal

Example 1:
-You own a business, tax per year you have to pay is rm50,000 since your business is good.

Now, you wanna pay less tax, say, rm30k less per year. So you launder it in property or other legal means to make it tax free (legal) or "clean" (for illegal business)

Normally laundering money = for every rm1 you launder you may need to pay rm0.10 to launder off that rm1, but with property, now you can launder rm1 and get back rm0.10 instead of paying.

This post has been edited by bryanyeo87: Dec 16 2007, 03:30 AM