Guidelines On Real Property Gains Tax (RPGT) In Malaysia

What is RPGT?
Real Property Gains Tax also known as RPGT, is a form of Capital Gains Tax that is chargeable on the profit gained from the disposal of real property in Malaysia.

In simple words, RPGT is basically the tax on chargeable gains derived from the sale of your land or a property. While a chargeable gain is the profit that you make for selling a property at a higher price than purchase price.

For instance, you bought a property in 2006 at RM 500k. Few years later, you sold the property to others at RM 700k, so, you gaining a RM 200k profit from selling the property. Then you will be taxed of your RM 200k profit.

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Effects Of Budget 2014 On Malaysia’s Property Market

With the property prices in Malaysia shooting full speed ahead towards overheating levels, the government has stepped in and introduced various measures to cool down temperatures and stabilize property prices. These measures were announced in the Budget 2014.

There are 3 measures that will most greatly impact the property market.

1) Increase of Real Property Gain Tax (RPGT) from 15% to 30% for disposal of property within the first 3 years of holding will definitely help to cool down speculation buying activities, the main culprit cited to increase property prices.

Disposal of properties during the fourth year of purchase will be taxed 20% and 15% for the fifth year. There will be no tax imposed for properties disposed during the sixth year of holding.

The new RPGT is applicable to both individuals and corporate entities.

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