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GEORGE TOWN: The International Real Estate Federation (FIABCI) has urged the federal government to review the Real Property Gains Tax (RPGT) as a move to stimulate the secondary property market and reduce property overhang.
Given the weakening market conditions, an expansionary budget has been touted as the way to go.
Here we give a glimpse of what officials are hoping to see in Budget 2020 that would help their businesses thrive.
WITH more flashing signs of less propitious global economic backdrop and the risk of a global recession is “high and rising” going into 2020, Malaysia’s real GDP growth is likely to decelerate to 4.5% in 2020 from an estimated 4.7% in 2019.
PETALING JAYA: Property developer LBS Bina Group Bhd has called for greater measures to boost house ownership in Malaysia and to lift the property sector.
PETALING JAYA: The upcoming Budget 2020 will emphasise on new growth measures to address the high cost of living issue and improve the purchasing power of Malaysians, particularly the Bottom 40 (B40) segment, according to TA Securities.
PETALING JAYA: Relaxed lending guidelines, continued incentives under the Home Ownership Campaign (HOC), reduced compliance cost and the termination of the real property gains tax (RPGT) are on the budget wish list of property developers and consultants, who hope that such measures will help stimulate the industry and reduce the property overhang.
SEREMBAN: MCA wants the government to abolish the real property gains tax (RPGT) for properties disposed after five years, arguing that those who bought properties many years ago could not have done it for speculative purposes.
A FRIEND recently lamented that he had to pay for Real Property Gain Tax (RPGT) after selling a condominium he bought 10 years ago. The capital gain was meant to fund his son’s tertiary education.A FRIEND recently lamented that he had to pay for Real Property Gain Tax (RPGT) after selling a condominium he bought 10 years ago. The capital gain was meant to fund his son’s tertiary education.