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> Financing - Properties bought under a company, Need to refinance some props for tax Investment

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michaellee
post Aug 26 2011, 10:09 AM

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QUOTE(lainux @ May 26 2009, 05:38 PM)
Need some taikors' helps.

I am thinking into venturing into the rental biz with a friend.  I am thinking of setting up 2 companies.  1) prop holding 2) management.  Must them both be S/B?  Is it ok to make the management com. a non s/b?

Anyone interested in a TT session?
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You need to becareful about setting up such arrangement as it may be construed as a form of transferring the incidence of tax. If the management company is set up in such a way that it only manages the properties of the prop investment holding company, then it is pretty obvious.
ruben7389
post Dec 25 2011, 10:26 AM

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Hi All

Noticed that all the posts here have been before the 70% LVR came into place by BNM.

So if buying under S/B can we still get 90% loan or will it be depending on the director's personal loans when computing?

Another Q: Anyone here now successfully set up their S/B? Mind sharing how is that going now?

Thanks
TSPai
post Dec 25 2011, 12:13 PM

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QUOTE(ruben7389 @ Dec 25 2011, 10:26 AM)
So if buying under S/B can we still get 90% loan or will it be depending on the director's personal loans when computing?
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For residential.........u'd be luck to get 70% under coy purchase now............ smile.gif
ruben7389
post Dec 25 2011, 08:38 PM

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QUOTE(Pai @ Dec 25 2011, 12:13 PM)
For residential.........u'd be luck to get 70% under coy purchase now............  smile.gif
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Hi Pai - can please advise what is the reason for this? bank tightening measures?

Is this also applicable even if we stand as personal guarators for the loan?
TSPai
post Dec 26 2011, 03:09 PM

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QUOTE(ruben7389 @ Dec 25 2011, 08:38 PM)
Hi Pai - can please advise what is the reason for this? bank tightening measures?

Is this also applicable even if we stand as personal guarators for the loan?
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Chief, BNM wants to limit speculation in residentials..........hence putting all stops on residentials bought under coy for obvious reasons......
michaellee
post Dec 28 2011, 01:07 AM

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QUOTE(ossd @ Jul 7 2011, 06:43 PM)
newbie in property investment here... but on the point of loans and cashflow.. heres something my accountant taught me...you can actually "accrue" salaries/wages... ie the company supposed to pay you but just not yet....  and in the future when there is profit available, can just take out from company and get the accounts ppl to adjust accordingly... and its legal of course. but i'm not sure if it will bring beneficial tax perks though....

peace.
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IRB would be keen on querying you how much salary should one accrue for rental collection? If you are collecting MILLIONS, then a salary would be in good order. But if you are collecting RM120,000 from a single tenant per year, how much salary do you think you deserve? The IRB answer will be a big fat zero, so I would not use this method to minimise my tax as it would be a form of tax evasion rather than minimisation.
yewkhuay
post Jan 26 2012, 02:20 PM

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some how i think this thread can discuss further, do we have anyone who can get someone to further enlighten us in current BNM rules?
eric.tangps
post Jan 26 2012, 10:04 PM

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Residential Under Personal
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If CCRIS has 2 HL whether it is own or joint, 70% Margin.

Residential Under Company
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Irrespective of CCRIS, it is 60% Margin.
x363
post May 7 2012, 03:00 PM

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Nice thread... watching and learning...
yauchingfui
post Aug 13 2012, 12:20 PM

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QUOTE(Pai @ Dec 26 2011, 03:09 PM)
Chief, BNM wants to limit speculation in residentials..........hence putting all stops on residentials bought under coy for obvious reasons......
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Hi pai,
so what is ur direction now?
still residential? commercial?
leodinouknow
post Jun 4 2017, 12:03 AM

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Now 2017 still got apply this rules 70% finance for third property redidential?
wild_card_my
post Jun 8 2017, 03:25 PM

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QUOTE(leodinouknow @ Jun 4 2017, 12:03 AM)
Now 2017 still got apply this rules 70% finance for third property redidential?
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Of course. It will not go away in the foreseeable future.

As a broker, this is good. I like the fact that BNM is doing all it can to cool down the property market.. it was too hot in the past decade

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