Opss! Why RPGT (Real Property Gains Tax) is not mentioned in the Budget 2011? Investors are worrying about the 30% RPGT will be re-imposed back during the budget, so am I. Is RPGT increased or remained the same?
After reading through few major newspapers like Sin Chew Daily, Nanyang Siang Pau, The Star, China Press and Guang Ming Daily, I felt relieved to confirm Prime Minister did not mention about the RPGT during the tabling of Budget 2011 on 15 October 2010.
Since it was not mentioned, then I assume the RPGT rates will be remained the same as 5% on the gains from the disposal of real property within the first 5 years. It’s good news for property investors, especially those who are buying properties to flip.
Related Articles: Real Property Gains Tax 2010 Latest Updates on 23 Dec 2009
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{ 5 comments… read them below or add one }
RPGT is not mentioned in budget 2011, but this doesn’t mean the current rate is confirmed to stay for another year till the next budget 2012. New policy could come in anytime between these 365 days. Everyone know how “flip-flop” the Boleh-land government is !
HaHa! Well-known Malaysia Boleh!
Good one.
New policy < 5%? lol
Too much to handle, RPGT REVENUES just a mere pittance compared to the BIG bucks from ETPs. Moreover it may contradict the push to develop RRIM, TUDM, Iskandar, etc on high end properties for sales to foreign buyers.
Would like to know whether RPGT also apply to acquirer of property by way of deed of gift, if he/she were to sell the property less than 5 years?