In Malaysia, the profit that you gain from selling off your properties will be taxed. This is known as real property gain tax (RPGT). However, the rate is different depending on the number of years you hold on to your property. See the chart below.
If you sell off your properties after 6 years, you will not be taxed at all.
Malaysians have the privilige of once a lifetime tax exemption from RPGT for only one residential property. So, make use of your privilege as a Malaysian.
Latest: RPGT has been abolished beginning from 1st April 2008.
If you sell off your properties after 6 years, you will not be taxed at all.Malaysians have the privilige of once a lifetime tax exemption from RPGT for only one residential property. So, make use of your privilege as a Malaysian.
Latest: RPGT has been abolished beginning from 1st April 2008.
I must make sure I hold the property for at least 6 years to maximise the profit that I gain.
RPGT has been abolished since 1 Apr 07.
If RPGT has been abolished, does that mean we won't get taxed anymore on gains made from our properties?
Nadlique,
yes, we won't get any tax from gain made from selling of our properties since Apr 07
to cutie,
Yea, but that is the old regulations.
to jean chai,
Thanks for sharing with me the latest information.
to nadlique,
Yea, that means you can buy and sell the property anytime without being taxed on the gains that you made.
to jean chai,
thanks for helping me to answer nadlique query.