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Does anyone know about GST requirement for individual owner for commercial prop ? Is the GST impose on rental income more than RM500k or how if an individual own more than 2 properties but rental income less than RM500k ?
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2 Answers

<en>David</en> <en>Wong Lai Kwong</en>
I have enquired from Custom before. As long as the total rental income has not exceeded RM500k you are not required to be a GST registrant to collect GST irrespective of the number of commercial properties that you own. If you own more than 2 commercial properties and you sell any of your commercial properties in excess of RM500k price then you are required to register only upon the sale. Please take note that if you own the commercial properties under different companies or joint names, each property is categorized under separate entity. You may call custom to double check. David Wong Principal Licensed Agent E2097 Mobile +60193330573  QUANTUM REAL ESTATE Read More
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<en>David</en> <en>Wong Lai Kwong</en>
Hello, The guideline are as follows:- 1. If your total rental income for non residential properties under the same name exceed RM500,000 per annum then you need to register to collect GST from the Tenants over the rental collected. (Does not matter whether if it is only 1 property) 2. Provided you own more than 2 non residential properties or more than 1 acre land under the same name, and if you sell your non residential properties in exceeding RM500,000 in value, you are required to register and collect GST from the buyer. (Custom advise that you register only after the sale is successful vide a signed letter of offer). Hope the above gives you more clarity. David Wong (Mobile +60193330573  ) Principal Licensed Agent E2097 QUANTUM REAL ESTATE E(3)1320 www.quantumrealestate.com.my Read More
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