Property, car markets seen slowing down post GST

Lorraine Parkin Senior Executive Director of GST (2nd from left) with others from (left) Seah Siew Yun Senior Executive Director, Sian Sinclair Global Head of Real Estate & Construction, N.K. Jasani Managing Partner and Rodger Flynn Regional Head Asia Pacific, during the Grant Thornton Press conference on the impact of goods and services tax on the Malaysian property industry in Kuala Lumpur yesterday.(11/8/2014) - S.S.KANESAN/The Star)

KUALA LUMPUR: Big ticket items, such as real estate and cars, are likely to see a lull in their respective markets after the implementation of the goods and services tax (GST) come April 1, 2015, says an accountant.

According to independent assurance, tax and advisory firm Grant Thornton, the same had happened in the United Kingdom and Australia when the value added taxes were introduced in 1973 and 2010, respectively.