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New developments to share
- Thread starter wuqi256
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Is this news confirmed? I wasnt able to verify this from any govt anouncement.I was expecting any changes to be announced with the Budget.
I doubt long term investors will be deterred by stamp duty increases, its still not very high and not many of us buy more than 2 properties. As for RGPT, remember its a tax only on your gains and if you're holding it for at least 5 years, its not a problem.
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No one can reverse a trend that is in motion.
Not even government. (Singapore just put up the 10th curbs in property market. Property market hardly move.)
The only thing they can do is to crash it, but I doubt they want it as it will hit Government tax collection. Worst of all, it will affect they chance on their next election.
Not even government. (Singapore just put up the 10th curbs in property market. Property market hardly move.)
The only thing they can do is to crash it, but I doubt they want it as it will hit Government tax collection. Worst of all, it will affect they chance on their next election.
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RON 95 subsidy is cut so RON 97 unsubsidised also kenna up? Interesting.
http://www.themalaymailonline.com/malaysia/article/price-for-ron95-petrol-diesel-up-by-20-sen
yes, najib need to maintain the gap between rakyat and foreighner ma... no surprises there again!
Other property buyers have to subsidise the low cost houses. Government approvals/licences for developers will go up. Property prices will go up.
Johor Land to build 3,600 homes in five years
Sep 4, 2013
Johor Corporation, via its subsidiary Johor Land Bhd, plans to build 3,600 affordable and low-cost homes on land owned by both entities over a period of five years.
Notably, the development plan will involve seven locations in Iskandar Malaysia along with several high-value locations in the city, revealed President and Chief Executive Datuk Kamaruzzaman Abu Kassim.
“Over 3,600 units of homes are expected to be completed by 2017, while a total of 8,000 units are expected to be ready by 2020, with a gross development value of RM1.2 billion...With such a high development cost, it is our hope that the state and Federal governments give their cooperation and support especially in the form of financing grants, infrastructure and fast approvals,” he noted.
He said this during the signing of a memorandum of agreement (MoA) between Johor Corporation and the state government and another MoA between Institute Sultan Iskandar of Urban Habitat And Highrise (ISI) and Johor Land.
Kamaruzzaman represented Johor Corporation and the state government by State Secretary Datuk Obet Tawil.
On the other hand, Managing Director Lukman Abu Bakar signed for Johor Land, while ISI was represented by its Executive Director Professor Dr Mohd Hamdan Ahmad.
To be built over a five-year period, the houses will be spread across different locations, including Taman Seroja, Tampoi with 304 units; Bandar Tiram Phase 1 (634); Bandar Dato' Onn (1,150); Bandar Tiram Phase 3 (450); Kempas (360); Bandar Baru Majidee (400) and Larkin (340).
However, construction will depend on current surveys on market demand and supply and development approvals from relevant agencies and local authorities, he explained.
“We also plan to build various facilities including shop lots, kindergartens, surau and mosques as well as playgrounds, and these housing projects will need to have their infrastructure upgraded in tandem with the increased number of residents,” he added.
He further noted that Johor Corporation will continue to help the state government in correcting the imbalance in property ownership by Bumiputeras in urban areas.
In fact, the MoA with SIS will also feature a survey on Bumiputera property ownership, which will look into the effectiveness of government regulations in promoting property ownership among Bumiputeras, ownership patterns in Iskandar Malaysia from 2005 to 2012 as well as market sentiment affecting property values.
Farah Wahida, Editor of PropertyGuru, wrote this story. To contact her about this or other stories email [email protected]
http://www.propertyguru.com.my/prop...johor-land-to-build-3-600-homes-in-five-years
Johor Land to build 3,600 homes in five years
Sep 4, 2013
Johor Corporation, via its subsidiary Johor Land Bhd, plans to build 3,600 affordable and low-cost homes on land owned by both entities over a period of five years.
Notably, the development plan will involve seven locations in Iskandar Malaysia along with several high-value locations in the city, revealed President and Chief Executive Datuk Kamaruzzaman Abu Kassim.
“Over 3,600 units of homes are expected to be completed by 2017, while a total of 8,000 units are expected to be ready by 2020, with a gross development value of RM1.2 billion...With such a high development cost, it is our hope that the state and Federal governments give their cooperation and support especially in the form of financing grants, infrastructure and fast approvals,” he noted.
He said this during the signing of a memorandum of agreement (MoA) between Johor Corporation and the state government and another MoA between Institute Sultan Iskandar of Urban Habitat And Highrise (ISI) and Johor Land.
Kamaruzzaman represented Johor Corporation and the state government by State Secretary Datuk Obet Tawil.
On the other hand, Managing Director Lukman Abu Bakar signed for Johor Land, while ISI was represented by its Executive Director Professor Dr Mohd Hamdan Ahmad.
To be built over a five-year period, the houses will be spread across different locations, including Taman Seroja, Tampoi with 304 units; Bandar Tiram Phase 1 (634); Bandar Dato' Onn (1,150); Bandar Tiram Phase 3 (450); Kempas (360); Bandar Baru Majidee (400) and Larkin (340).
However, construction will depend on current surveys on market demand and supply and development approvals from relevant agencies and local authorities, he explained.
“We also plan to build various facilities including shop lots, kindergartens, surau and mosques as well as playgrounds, and these housing projects will need to have their infrastructure upgraded in tandem with the increased number of residents,” he added.
He further noted that Johor Corporation will continue to help the state government in correcting the imbalance in property ownership by Bumiputeras in urban areas.
In fact, the MoA with SIS will also feature a survey on Bumiputera property ownership, which will look into the effectiveness of government regulations in promoting property ownership among Bumiputeras, ownership patterns in Iskandar Malaysia from 2005 to 2012 as well as market sentiment affecting property values.
Farah Wahida, Editor of PropertyGuru, wrote this story. To contact her about this or other stories email [email protected]
http://www.propertyguru.com.my/prop...johor-land-to-build-3-600-homes-in-five-years
Is this calculated from TOP or from the signing of SPA?
RPGT is calculated based on signing of SPA, and based also on your SPA price (not discounted price), less expenses (quit rent, taxes, agent fee, renovation etc). Not sure if interest on loan paid prior to disposal can also be nett off from the sale price.
http://sg.news.yahoo.com/guide-real-property-gains-tax-malaysia-part-2-062602763.html
http://www.vincentyim.com/how-to-calculate-real-property-gain-tax-in-malaysia/
still unclear about the deductions allowed. some say max 10K deduction, some say nett of all costs, then deduct 10k or 10% (whichever higher).
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Actually this RPGT was enforced many years ago with the same percentage. I think in 2009, the property market slumped. Then they repealed it and change the structure to the present one. So if the new rules come in place, it is just a reinstatemant.
What we need to know is the RGPT is calculated from the date of SPA or the date of handover. That is still not clear.
normally date of SPA. the SPA governs the sale agreement, is the date of legal commencement of your acquisition of said property. Btw, my calculations earlier may be mixed up.. can you pls edit and delete off the quoted part? tks! (i ammended my earlier post too)
"Generally, the dates which are used to determine the RPGT tax rates are dependent on the date when the property was acquired and date when property was disposed of; i.e. the dates of the respective Sale and Purchase Agreements. The same applies for properties under construction, i.e. the purchase date is determined as the date on the Sale and Purchase Agreement, when you agreed to buy the property and not the property completion date."
-- from the first link
btw i'm not a lawyer. you all want i can check with my sis. she's a lawyer.
"Generally, the dates which are used to determine the RPGT tax rates are dependent on the date when the property was acquired and date when property was disposed of; i.e. the dates of the respective Sale and Purchase Agreements. The same applies for properties under construction, i.e. the purchase date is determined as the date on the Sale and Purchase Agreement, when you agreed to buy the property and not the property completion date."
-- from the first link
btw i'm not a lawyer. you all want i can check with my sis. she's a lawyer.
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If the condo take about 4 years to handover from the date of SPA, then there's no worry about this RGPT which I think is ineffective against the real purpose. I am sure the authorities can see through this loophole.
i read that it's one time waiver of RPGT for malaysian and PRs (dunno if apply to MM2h-ers), for ANY property of one's choosing, in one's lifetime. doesn't have to be 1st one! haha.
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Locals get a lot of benefits. First timers get 90 to 100% loan. They get extremely low interest rates. They can take from their EPF (similar to CPF) and use it as downpayment. And when they sell the property, no need to pay back to EPF.
By the way, there's another way of determining RGPT's date. Apart from SPA, there's another legally binding document called CPC (Certificate of Practical Completion) and also Certificate of Fitness which is issued by the local council. Worth the while to check it out. Sorry guys, I had never sold a property b4. I just keep.
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