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THE slew of measures to revive the property sector will help to reduce the country’s stock of unsold units as well as assist the lower-income group with financing, the Association of Valuers, Property Managers, Estate Agents and Property Consultants in the Private Sector (PEPS) and other real estate personnel say.
Chief executive officers and industry players generally regard the budget as one that should address the challenges faced by the rakyat. Below are their comments
KUALA LUMPUR: The government will lower the threshold on high-rise property prices in urban areas for foreign ownership from RM1mil to RM600,000 in 2020.
KUALA LUMPUR: The Government has no plans to abolish the Real Property Gains Tax (RPGT) at the moment as it has not reached a one-year implementation period, said the Finance Ministry.
MALAYSIAN businesses and investors are highly adaptable. Over the past year, businesses and investors have had to deal with the newly introduced sales and service tax, digital service tax, sugar tax, changes to the Labuan tax regime and the earning stripping rules.
THE much-anticipated Budget 2020 is scheduled to be tabled on Oct 11, with the theme “Shared prosperity: Sustainable and inclusive growth towards high income economy.”
KUALA LUMPUR: Any tax to be paid by the people, and any plan to introduce new taxes will raise public concern, says Datuk Seri Dr Wee Ka Siong.
IN view of the lacklustre market and oversupply situation, the real estate sector has urged the government to remove and reduce the real property gains tax (RPGT) after the fifth year of purchase for non-citizens and companies to 5%, instead of the current 10% and zero tax for Malaysians and PRs.