Asked by Anonymous
Hi, I am Malaysian, owned a few residential properties in Penang and KL. Currently, I have obtained approval in principle for my Singapore Citizenship.
Questions:
- What are the extra cost implications on my properties when I sell the properties in future as a Foreigner?
- Would the RGPT be imposed in proportion shares to the owners of the property? e.g. House A owned by me, my mother and my sister. If we sell, how would the RGPT be calculated? Say purchase price RM400k, selling price RM1mil. Gain =RM600k. Would the RGPT for foreigner be calculated based on RM200k (RM600k/3person) or a total RM600k?
- Would it be a good move to transfer my name (property ownership) to my parents, spouse or sister to avoid the RPGT tax or any other taxes imposed on Foreigners?
Questions:
- What are the extra cost implications on my properties when I sell the properties in future as a Foreigner?
- Would the RGPT be imposed in proportion shares to the owners of the property? e.g. House A owned by me, my mother and my sister. If we sell, how would the RGPT be calculated? Say purchase price RM400k, selling price RM1mil. Gain =RM600k. Would the RGPT for foreigner be calculated based on RM200k (RM600k/3person) or a total RM600k?
- Would it be a good move to transfer my name (property ownership) to my parents, spouse or sister to avoid the RPGT tax or any other taxes imposed on Foreigners?
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