The 5% real property gains tax (RPGT) announced during the 2010 Budget last October will now only apply to property sold within 5 years from the date of purchase. Finally, our Prime Minister listen to the complains from the many property buyers which stress their unhappiness through many medium such as newspaper and blogs.
This is indeed a very good news to property buyers or investors in Malaysia.
Prime Minister said that the decision would cause the Government to lose about RM200mil in revenue. However, the benefit of this decision country we will see a stronger growth in the property sector.
The property sector has shown signs of improvement and together with this it will strengthern the sector. I believe that with the new government decision on RPGT, now will be a good time to buy some property.
This post will show the way how to calculate RPGT.