With the property prices in Malaysia shooting full speed
ahead towards overheating levels, the government has stepped in and introduced various
measures to cool down temperatures and stabilize property prices. These measures
were announced in the Budget 2014.
There are 3 measures that will most greatly impact the
property market.
1) Increase of Real Property Gain Tax (RPGT) from 15% to 30%
for disposal of property within the first 3 years of holding will definitely
help to cool down speculation buying activities, the main culprit cited to increase
property prices.
Disposal of properties during the fourth year of purchase
will be taxed 20% and 15% for the fifth year. There will be no tax imposed for
properties disposed during the sixth year of holding.
The new RPGT is applicable to both individuals and corporate
entities.
To read the rest of this article please go to http://propertyoutlookconference.com/2014/effects-budget-2014-malaysias-property-market/
The Property Outlook Convention aims to provide investors with the latest information on the current property market conditions and innovative property investment strategies. It is organized by Wealth Mastery Academy, a company committed to providing solid financial education and wealth creation strategies to the masses.
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