It may become too taxing Down Under

As we approach Jan 1, 2025, Malaysian owners of Australian property are facing a perfect storm of tax challenges. Experts warn of potential crippling financial repercussions if immediate action is not taken.

The impending tax changes are two-fold. First, the Foreign Resident Capital Gains Withholding rate will increase from 12.5% to 15% for all property sales starting Jan 1, 2025. Second, land tax burdens continue to escalate, which means many investors will face retrospective bills.