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If you are a salaried employee:
(a) Letter of appointment (for new employee);
(b) Latest three months’ salary slip;
(c) Latest three months’ bank statements to show the salary credited;
(d) EA form;
(e) EPF statement;
(f) Latest Income tax return form (Borang BE); and
(g) A photostated copy of your IC (identity card).
If you are self-employed:
(a) Latest income tax return form (Borang B);
(b) Latest two years’ audited accounts / trading accounts;
(c) Form 24 & 49 & Company Registration;
(d) Business registration form (A/D);
(e) Six months’ bank statements (personal account);
(f) 12 months’ bank statements (company account);
(g) A photostated copy of your IC (identity card); and
(h) Other supporting income documents.
Duration of Tenancy |
Maximum fee |
---|---|
Up to 3 years |
1.25 months of gross rental |
Exceeding 3 years up to 4 years |
1.50 months of gross rental |
Exceeding 4 years up to 5 years |
1.75 months of gross rental |
Exceeding 5 years (without renewal option) |
1.75 months of gross rental |
Exceeding 5 years (with renewal option) |
1.75 months of gross rental plus 0.25 months of gross rental for each extra year |
Service Tax – 6% of Government Service Tax will be charged on all professional fees received as it is compulsory under the law to pay service tax for those using the services of the Real Estate firms.
STAMP DUTY ON SALE/ LEASING OF PROPERTY
In the case of purchase of any property, the contract of sale and purchase is chargeable to ad valorem duty on the price of the sale transaction/ tenancy. The rate of duty is the same as that of Immovable Property (Stamp Act 1946 refers).
SALE OF PROPERTY
The prescribed rate of duty for sale transaction is as shown below:-
Value of the property |
Stamp Duty Payable |
---|---|
First RM100,00 |
1% |
From RM100,001 to RM499,999 |
2% |
From RM500,000 above |
3% |
Note: The duty shall be paid by the Purchaser of the property.
LEASING OF PROPERTY
The lease or tenancy instrument which secures annual rent not exceeding RM2,400 is EXEMPTED from duty and presentation of these instruments at a stamping office or centre is not necessary.
The prescribed rate of duty on the instrument which secures annual rent exceeding RM2,400 is as follows:-
For every RM250 or part thereof in excess of RM2,400 |
|
---|---|
Tenure |
Rate of Stamp Duty |
Not exceeding 1 year |
RM1 |
Exceeding 1 year but not exceeding 3 years |
RM2 |
Exceeding 3 years and above |
RM4 |
REAL PROPERTY GAINS TAX (RPGT)
Real Property Gains Tax (RPGT) is tax charged on gains arising from the disposal/ sale of real properties.
With effect from 1 January 2012, RPGT will be imposed at the effective rate of 10% on gains arising from the disposal of real properties within 2 years from the date of acquisition, for Sales & Purchase Agreement signed on or after that date.
The 5% rate will continue to apply for people selling in the third year through to the fifth year.
Calculation of RPGT
The calculation of RPGT is a follows; assuming that the property was purchased at RM400,000 and resold at RM500,000 within the first 2 years of its purchase;
Gain from disposal – waived exemption = Taxable gain Eg. RM100,000 – RM90,000 = RM90,000 Chargeable RPGT is 10% of RM90,000 = RM9,000 |
Allowable loss
Allowable loss is a loss incurred after a property disposal and in this event tax relief is allowed under the following conditions:
Disposals not liable to RPGT
Withdrawal to Reduce / Redeem Housing Loan
This withdrawal allows you to utilize your savings from Account 2 to reduce or redeem the balance of your’s or your spouse’s housing loan taken from a financial institution approved by the EPF for the following mode of purchase or construction of a house:
Withdrawal to reduce / redeem the balance of housing loan of the second house is allowed after the first house purchased utilizing EPF withdrawal has been sold or disposal of ownership of property has taken place. Disposal of ownership refers to 'loss of ownership of the first house owned by you either due to auction, surrender of property by court order, transfer of ownership because of love and affection, destruction of house due to natural disaster, abandoned housing project or cancellation of purchase.
|
Source from: http://www.kwsp.gov.my/index.php?ch=p2members&pg=en_p2members_wdrawtype&ac=40
Withdrawal to Purchase a House
PURPOSE
Application Eligibility
(ii) A Malaysian Citizen who has made Leaving The Country Withdrawal before 1 August 1995 and has opted to re-contribute to the EPF; OR (iii) A Non-Malaysian Citizen who:
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Source from: http://www.kwsp.gov.my/index.php?ch=p2members&pg=en_p2members_wdrawtype&ac=1850
Withdrawal to Build a House
Application Eligibility
|
Source from: http://www.kwsp.gov.my/index.php?ch=p2members&pg=en_p2members_wdrawtype&ac=1867
Housing Loan Monthly Instalment Withdrawal
This withdrawal allows you to utilize your savings from your Account 2 to pay for your monthly instalments of a housing loan taken for the purpose of buying / building a house. This withdrawal is in addition to the withdrawal to reduce / redeem housing loan
Payments will be made via direct-crediting into your personal bank account. or will be sent to you in form of banker’s cheque payable to the financial institution concerned for those with Non Performing Loans (NPL). Withdrawal Eligibility
(ii) A Malaysian Citizen who has made Leaving The Country Withdrawal before 1 August 1995 and has opted to re-contribute to the EPF; OR
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Source from: http://www.kwsp.gov.my/index.php?ch=p2members&pg=en_p2members_wdrawtype&ac=2190
GUIDELINES
(as provided by the Economic Planning Unit)
RESTRICTIONS
Foreign interest is NOT ALLOWED to acquire the following:-
For landed properties such as bungalows, semi-detached houses and terrace houses, it is estimated that the expected date of completion is 24 months from the date of signing of the Sale and Purchase Agreement.
For subdivided buildings such as condominiums, flats, apartments and townhouses, the estimated timeline for completion is 36 months.
Installments payable (for Link House) |
% |
|
---|---|---|
1. |
Immediately upon signing of this Agreement |
1 |
2. |
Within twenty-one (21) working days after receipt by the Purchaser of the Vendor's written notice of the completion of: |
|
|
|
10 |
|
|
15 |
|
|
10 |
|
|
10 |
|
|
10 |
|
|
5 |
|
|
5 |
|
|
5 |
3. |
On the date the Purchaser takes vacant possession of the said Building, with water and electricity supply ready for connection. |
12.5 |
4. |
Within twenty-one (21) working days after receipt by the Purchaser or the Purchaser's solicitors of the separate document of title to the said Lot together with a valid and registrable Memorandum of Transfer to the Purchaser duly executed by the Vendor or on the date the Purchaser takes vacant possession of the said Building, whichever is later. |
2.5 |
5. |
On the date the Purchaser takes vacant possession of the said Building as in item (3) and to be held by the Vendor's solicitor as stakeholder for payment to the Vendor as follows:- |
5 |
|
|
|
|
|
|
|
TOTAL |
100 |
Installments payable [for sub-divided buildings (Strata) or Townvilla] |
% |
|
---|---|---|
1. |
Immediately upon signing of this Agreement |
10 |
2. |
Within twenty-one (21) working days after receipt by the Purchaser of the Vendor's written notice of the completion of: |
|
|
|
10 |
|
|
15 |
|
|
10 |
|
|
10 |
|
|
10 |
|
|
5 |
|
|
5 |
|
|
5 |
3. |
On the date the Purchaser takes vacant possession of the said Parcel, with water and electricity supply ready for connection to the said Parcel |
12.5 |
4. |
Within twenty-one (21) working days after receipt by the Purchaser of the written confirmation of the Vendor's submission to and acceptance by the Appropriate Authority of the application for subdivision of the said Building |
2.5 |
5. |
On the date the Purchaser takes vacant possession of the said Parcel as in item (3) and to be held by the Vendor's solicitor as stakeholder for payment to the Vendor as follows:- |
5 |
|
|
|
|
|
|
|
TOTAL |
100 |
Source from: http://www.tppt.com.my/paymentsc.html
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