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Real Property Gains Tax hike likely in Budget 2014
PETALING JAYA: The local property sector may only see a real property gains tax (RPGT) increase in Budget 2014, according to a report by Kenanga Research.

It said it was expecting the tax rate to increase to 30% from 15% for properties sold within two years and 15% from 10% for properties sold within three to four years.

It said the 10% rate would remain unchanged for properties sold in the fifth year and zero RPGT for properties sold in the sixth year onwards.

“We believe this has been largely been discounted and priced-in somewhat, but we do expect some slight knee-jerk reactions for a couple of weeks post announcement,” it said. Budget 2014 will be tabled on Oct 25.

Kenanga Research also said the market could experience “panic buying” by investors next year if the goods and services tax (GST) was implemented in 2015.
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Source : The Star
Date of  Publication : Wednesday, 09 October 2013
Original Title : Real property gains tax hike likely in Budget 2014
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