Q: What is Stamp Duty? A: Stamp duty is a tax being imposed on varied of written agreement (including Instrument of Transfer of Property) by the Inland Revenue Board. Q: Who will need to pay for stamp duty? A: Generally, stamp duty is payable by the Transferee (i.e. person of which the Property being transferred…
What is Real Property Gain Tax (RPGT)? RPGT is a form of Capital Gains Tax or in other words a tax chargeable on gains arising from the disposal of real properties situated in Malaysia levied by the Inland Revenue Board (LHDN). Whether you are a property investor or an owner looking to sell your current home,…
Can Or Cannot? : Purchase of Immovable Property in Sarawak by a FOREIGNER The law governing the immovable property in Sarawak is different from West Malaysia. Immovable property in Sarawak is governed by the Sarawak Land Code, whereas the immovable property in West Malaysia is governed by the National Land Code. As the state of…
Inspecting Property Check the condition of the property thoroughly (for example : whether there is any water leakage, any cracks on the wall, any defects). If possible, bring along your own contractor/professional personnel to assist you during inspection. It is advisable to take photo(s) of different areas of the property, especially those defects discovered during…
Also known as Agreement to Purchase/Option Form/Booking Form, which entered between the Owner of the property and the Intended Purchaser when the Intended Purchaser decided to purchase the Property. The Owner, ie the Vendor grants the Purchaser an option to purchase the property based on the terms and conditions in the OTP, in return of…
Planning to purchase your dream home? Scrutinise the land search report before paying your hard-earned money First, what is a land search report? A land search report is a report issued by the relevant land registry or land office which offers you important information of a particular land. To avoid falling into any property scams…
Sarawak: What should you do when your original individual/strata title lost? TAKE NOTE that ownership of an immovable property is evidenced by having one’s name registered on the individual/strata title (provided that the same has been issued by the relevant authorities). If you lost your original individual/strata title of your immovable property in Sarawak, you…
Projects Are Delayed or Abandoned Buying houses can be a nightmare especially when the developer delays in delivering vacant possession to the purchasers. This happens more often than not when unwary purchasers fell into the trap of rapacious and unscrupulous developers by paying a substantial amount to their developers as deposits or booking fees or…
Introduction Persons interested in a land are often being caught unaware of their rights when their lands are being earmarked for acquisition. In this piece, we will try to simplify the relevant issues and the process of land acquisition for easier dissemination of information. What is Compulsory Land Acquisition? Simply put, the government wants to…
The 2019 Real Property Gains Tax rates are a significant factor for consideration to anyone who owns a property and intends to profit from its sale The Real Property Gains Tax (“RPGT”) in Malaysia is definitely not a new subject for property owners – veteran investors especially. First introduced in 1995, the latest iteration of…
