Asked by Biing Huei Saw
I am a Singaporean and about to inherited a property from my mother (Malaysian) which she bought 55 years ago in Penang. We have no records of her purchase so we do not know how much was paid. Questions are as follows based on not intending to sell until after 5 years:
1) Do I need to pay RPGT on inherting the property?
2) What will be the percentage liable as a foreigner?
3) How do we calculate the capital tax? What to use as the original price?
4) Will I need to do a valuation to determine the current price on inheriting the property?
Hope you can help to answer the above. Thank you.
1) Do I need to pay RPGT on inherting the property?
2) What will be the percentage liable as a foreigner?
3) How do we calculate the capital tax? What to use as the original price?
4) Will I need to do a valuation to determine the current price on inheriting the property?
Hope you can help to answer the above. Thank you.
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