The house sale tax is indeed high
Posted: Sat Dec 28, 2024 6:47 am
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. In this case, your profit is RM100,000 (RM250k – RM150k) and the tax payable is around RM30,000 (30% x RM100,000). Note: this is a rough calculation. There is a more accurate method for calculating property tax where you can deduct some expenses/exemptions as stipulated in the Real Estate Gains Tax Act.
Please consult a tax agent for a more accurate calculation. But you croatia whatsapp number database can use several ways to get an exemption or reduce the payment… Make a once-in-a-lifetime exception For residential properties, the government allows you to make a full RPGT tax exemption. However, you can only use this exemption once. If you have several properties, use this exemption for the property where you receive the most tax savings.
How do you make this exception? After signing the sale and purchase agreement, inform your lawyer to apply for an exception. Make deductions for property purchase and sale costs However, if you can't take the once-in-a-lifetime exemption, an alternative way is to reduce the amount of tax you owe. You can reduce your tax by deducting some of the buying and selling costs that the government allows.
Please consult a tax agent for a more accurate calculation. But you croatia whatsapp number database can use several ways to get an exemption or reduce the payment… Make a once-in-a-lifetime exception For residential properties, the government allows you to make a full RPGT tax exemption. However, you can only use this exemption once. If you have several properties, use this exemption for the property where you receive the most tax savings.
How do you make this exception? After signing the sale and purchase agreement, inform your lawyer to apply for an exception. Make deductions for property purchase and sale costs However, if you can't take the once-in-a-lifetime exemption, an alternative way is to reduce the amount of tax you owe. You can reduce your tax by deducting some of the buying and selling costs that the government allows.