Real Property Gains Tax
Posted: Sat Dec 28, 2024 6:33 am
3) Real estate agency fee If you use a real estate agent’s services, the real estate agency fee is 3.18% of the selling price, including service tax. So, if you sell a house for RM100,000, the agency fee is RM3,180. Like legal costs, you only pay the agency fee after signing the sale and purchase agreement. The amount also comes from the deposit the buyer pays.
So you don’t have to take money out of your pocket upfront. cayman islands whatsapp number database 4) (RPGT) When you sell a house, the government will impose a tax on the profit you make. We call this the Real Property Gains Tax (RPGT). How To Sell A House In Malaysia The tax rate imposed by the government depends on how long you have owned the property.
In 2023, the property tax rates for individuals and permanent residents are as follows: Sale in the first to third year: 30% Sale in the fourth year: 20% Sale in the fifth year: 15% Sale in the sixth year and after that: none. For example, if you buy a house in December 2023 for RM150,000 and then sell it for RM250,000 in June 2024, the RPGT rate is 30% because the sale occurs in the first year.
So you don’t have to take money out of your pocket upfront. cayman islands whatsapp number database 4) (RPGT) When you sell a house, the government will impose a tax on the profit you make. We call this the Real Property Gains Tax (RPGT). How To Sell A House In Malaysia The tax rate imposed by the government depends on how long you have owned the property.
In 2023, the property tax rates for individuals and permanent residents are as follows: Sale in the first to third year: 30% Sale in the fourth year: 20% Sale in the fifth year: 15% Sale in the sixth year and after that: none. For example, if you buy a house in December 2023 for RM150,000 and then sell it for RM250,000 in June 2024, the RPGT rate is 30% because the sale occurs in the first year.