Real Property Gain Tax (RPGT)

Budget 2015 never touch on RPGT, meaning that the RPGT will maintenance as same as announced in Budget 2014.

In the Budget 2014, the government is proposing the RPGT be increased to 30% from the current 15% on all properties sold before three years from the date of purchase and whereas for disposals within the holding period up to 4 and 5 years, the rates are increased to 20% and 15%, respectively. For disposals made in the sixth and subsequent years, no RPGT is imposed on citizens, whereas companies are taxed at 5%.

Real Property Gain Tax (RPGT) is a tax imposed on gains from disposal of all types of properties such as residential and commercial buildings, land and shares of real property companies. RPGT is imposed on the net gains from disposal of property after deducting the following costs:-

 1. Acquisition price
 2. Stamp duty
 3. Legal fees
 4. Renovation costs
 5. Commission for sales and administrative payments

The following RPGT exemptions which were implemented under the previous regime continue to be available:

(a) RPGT exemption on gains from the disposal of one residential property once in a lifetime to individuals;

(b) RPGT exemption of up to RM10,000 or 10% of the net gains, (whichever is higher) from the disposal of real property by individuals;

and

(c) RPGT exemption on gains arising from the disposal of real property between family members (e.g. husband and wife, parents and children, and grandparents and grandchildren).

The current RPGT rates vary from 0% to 30%, depending on the holding period. The holding period refers to the period between the acquisition date and the disposal date of the property.

To further curb speculative activities, the RPGT rates on disposal of properties and shares in real property companies effective 1 January 2014 shall be as follows:-

Disposal  (from purchased date)	Company	Individual  (Citizen & PR)	Individual  (Non Citizen)
1st 3 years	30%	30%	30%
in 4th year	20%	20%	30%
in 5th year	15%	15%	30%
After 5th year	5%	0	5%

 

Example To Illustrate Calculation Of RPGT Disposal Price on 2 Jan 2014   300,000   Less: Renovation/extension costs 20,000     Legal fees 3,000 23,000 277,000 Acquisition Price on 1 Jan 2012   200,000   Add: Duty stamp paid 3,000     Legal fees 2,500 5,500 205,500 Profit     71,500 Less: Exemption of RM10,000 or 10% of the chargeable gain, whichever is greater     7,150 (-10,000) Chargeable gain     61,500   Rate of RPGT 30% applied for disposal in 1st 3 years after the date of acquisition. RPGT on RM61,500 @ 30% = RM18,450

Source:Real Property Gain Tax （RPGT)

KL Gateway @ Bangsar South

KL Gateway is a mixed development strategically located in a prime area within the vicinity of Mid Valley and also Direct Link LRT (University Station). 

○ Developer: Suez Domain Sdn Bhd
○ Location: Jalan Kerinchi, Kuala Lumpur.
○ Accessibility: Accessible from Federal Highway, Kerinchi Link, NPE and Bangsar.
○ Total Acreage: 7.18 acres (Block A, B, C, D, E, F & G with retail component).
○ Title Tenure: Leasehold 99 years.



○ Master Plan:

    Office – 37%  &  Retail – 13%
    Service Residence – 50%
    Overall 50:50 Commercial vs Residential

• Podium Block - 3 Levels of Retail (The Ring) with 500,000 sqft gross area and 300,000 sqft nett lettable area. 
   Managed by Bangsar Shopping Mall. It will house the key necessaries to cater for the community needs- Supermarket, 
   bookstores, medical centre, day-care, gym, fully equipped DIY shop, F&B & entertainment.
• Block A- 25 levels of Residential with 880 sqft, total 480 units for existing owners.
• Block B & C- 34 levels of Service Apartment, from 430 sqft to 890 sqft, total 600 units.
• Block D & E- Corporate Office Tower, 36 and 36 Levels, Total 885 units.
• Block F & G- Premium Residence, 34 Levels, Total 464 units.
• Parking Lot: Total 4000++ and 2000++ for public.

○ Completion Date: Office Tower 2016, Premium Residence 2017. 
  

Location:

Click here for Video

(1) Strategic Location between KL, PJ and Bangsar: 5 minutes to Mid Valley
                                                                                              10 minutes to PJ
                                                                                              20 minutes to Sunway Pyramid
                                                                                              20 minutes to KL CBD, 20 minutes to KLCC.

(2) Excellent Connectivity:

○ Direct air-cond pedestrian bridge linked to the existing University LRT station
    About 100 metre waling distance to the University Station.
    Only few stop away from KL Sentral and KLCC:  • KL Sentral - 4 LRT Stations’ Distance
                                                                                             • PJ Town Center - 2 LRT Stations’ Distance                                                                                  
    Buses & Other Public Transport Right At Doorstep.
    The future MRT station at KL Sentral will enhance the transportation leading to Bukit Bintang, entertainment etc.



○ Easy access to all major highways, via Federal Highways, Kerinchi Link, New Pantai Express Highway.
   Approval was obtained for direct access from Kerinchi Highway (if you are coming from KL direction). If you stay in Hartamas/ Mont Kiara/ TTDI aream you could take the Kerinchi highway directly without going down to Federal Highway to make an U-turn.

(3) Building Design
It is the latest architecture masterpiece by the multiple international awards winning architect, Ted Givens. He has won 10 out of 11 architectural competitions in China over the past 3 years. He has also won over 16 AIA awards for various built and conceptual projects in the United States and Singapore and recent HKIA and HKAIA awards.

(4) Community Focus: People-Friendly Design
      • Central-Park For Chill-Out Activities
      • Community Space & Common Areas

<KL Gateway Office Tower 2>

○ 8 units per floor, served by 8 lift.

○ No of Storey: 

   (a) Tower 1: Office Suites from Level 3A -36; 

   (b) Tower 2: Level 3A-33A

○ 2 Types of Layout: 

   (a) 1200 sqft (A1, A4, A4, A8 ) 

   (b) 1700 sqft (B2, B3, B6, B7)

Tower 1:    1,200 sqft (8 units per floor) from Level 3A-Level 26. Total 184 units.

                    1,700 sqft (8 units per floor) from Level 3A- Level 26. Total 184 units.

                    2,900 sqft (4 units per floor) from Level 27- Level 29. Total 12 units.

                    5,900 sqft (2 units per floor) from Level 30 - Level 32. Total 6 units.

                    11,800 sqft (1 unit per floor) from Level 33- Level 35. Total 3 units.

                    Level 35 Meeting Rooms & Business Lounge

                    Level 36 Sky Bar 

Tower 2:    1,200 sqft (8 units per floor) from level 3A -Level 33A. 248 units.

                     1,700 sqft (8 units per floor) from Level 3A-Level 33A. 248 units.

○ Price from RM1,349,000.

Packages:

○ One Season Carpark provided for 10 years subject to house rules.

○ 5% Discount + 15% Rebates

○ No SPA & Loan Legal fees & Disbursement.

○ No Loan Stamp Duty.

○ Investment Scheme Option 

   Option 1: 6% Assets Management for 3 years; Effective 3 months after ccc.

   Option 2 RM1 psf subsidiary Schemefor 3 years; Effective 3 months after ccc.

○ Booking fees RM 20,000 fully refund with loan rejection letter within 30 days.
○ Panel Bank: Maybank, CIMB, UOB, Alliance Bank

Specification:

1. Ceiling Height: 9' feet clear height.

2. Floor Finishes: Main lobby Granite, Other lobbies tiles, Toilet tiles, Office general area cement render.

3. Wall Finishes: Lobby Granite/tiles, Toilet tiles, All other areas cement plaster and emulsion paint

4. Window: Aluminium fixed and casement window.

5. Security: CCTV to carpark level and lift car. Access control at main lobby.

6. Electricity: Individual 3 phase DB for tenant fitting out. Broadband connection. Individual air conditional unit.

<KL City 6 Stars Premium Residence 2>

○ No of Storey: 38 floors

○ Total Units: 232 unit per block, 2 Blocks.

○ Eight units per floor served by 9 units of lift (8+1 service lift)

Direction:

   Unit 6 & 7 Face Federal Highway

  Unit 3, 3A & 5 face Central Plaza

 Unit 1 & 2 face Kuala Lumpur; Unit 8 facing future Hotel.

 

○ Each unit comes with private lift lobby.

    The first residential development with private life lobby design in Bangsar South area.

    Total privacy where each unit has only 1 neighbour and is served by 2 lifts.

○ Types of Layout:  

    Type A: 2+1 Bedrooms 2 Bathrooms (1,143-1,204 sqft)    

    Intermediate. Unit 01, 3A, 05 and 08.

    Total unit: 116 (Level 8 to 36), each floor 4 units. No of floors: 29

    Price from RM 1,368,000 onwards 

    Type B: 3+1 Bedrooms 3 Bathrooms (1,346 - 1,396sqft) 

    Corner unit.Unit : 02, 07 and 06

    Total Unit: 87 (From Level 8 to 36), each floor 3 units. No of Floor : 29

    Price from RM 1,477,000

    Type C: 1,399 sqft (3+1 Bedrooms)

    Corner Unit. Unit 03.

    Total Unit: 29 (From Level 8 to 36), each floor per unit. No of Floors: 29

    

------------------------------------------- Show Unit-----------------------------------------------------------------------

  

 

 

 

Specification:

1. Ceiling: Skim coat/ Plaster Ceiling.

2. Window: Powder coated aluminium frame glass panel.

3. Entrance/Exit Doors: Fire rated door.

    Other Doors: Solid core door. Timber flush door. Sliding door/ Slidefold glass door/ Swing glass door.

4. Flooring: Private Lobby, Living & Dining, Kitchen, Balcony - Tiles

                      Master Bedroom, Bedroom 2, Bedrooms 3- Solid timber 

                      Bath 1, Bath 2, Dry & Wet Kitchen, Bath 3 - Tiles

5. Sanitary Wares & Tap Fittings: Bathtub, shower & sanitary wares completed with tap fittings.

○ Up to 25 first-class facilities

   Concierge service at main lobby.

   Grand main lobby to welcome you home.

   Greeted by friendly Door man & Reception.

  Security System:

   24 hours security with CCTV at car park, main lift lobby and lifts.

   Intercom system to each unit.

   Facilities at Level 7

 

○ Premium furnishing package includes:
    ● Kitchen cabinets with hob, hood & washer cum dryer
    ● Air-conditioners
    ● Hot water system
    ● Built-in wardrobe
 

○ Packages:

   ● 5% Discount + 15% Rebates 
   ● No SPA & Loan Legal Fees & Disbursement

   ● No Loan Stamp Duty

   ● Booking fees RM 5,000 fully refund with loan rejection letter within 30 days.
   ● Panel Bank: Maybank, CIMB, UOB, Alliance, Public Bank, Hong Leong, UOB, OCBC


History...


Suez Domain picked to develop Kampung Kerinchi flats
By BAVANI M

bavanim@thestar.com.my

THE residents of the 40-year-old Kampung Kerinchi flats in Pantai have chosen Suez Domain Sdn Bhd to develop the flats in Pantai Dalam.

A total of 369 residents voted to choose the developer they wanted to develop their homes and the vote counting was carried out in a transparent manner in front of the residents yesterday.

A total of 177 residents chose Suez Domain while 120 votes went to UDA Holdings Berhad, 46 picked MAHA Development and two voted for Puncak Seputih. There were 24 spoilt votes.

Federal Territories Minister Datuk Raja Nong Chik Raja Zainal Abidin said the voting was done in an open manner to dispel any allegation of political inteference.

“The people have chosen and 90% have decided on Suez Domain,” Nong Chik said.

“Everything went smoothly and it is the first time that the Government has used this method to help the poor people,” Nong Chik said.

Nong Chik said since the method worked well in Kerinchi, the same formula might be used in other areas in the city like Kampung Baru and Jinjang.

Kampung Kerinchi Residents Association chairman Ahmad Rahman said he was happy with the decision made by the residents as Suez Domain offered the best package compared with the other developers.

The Land Tenure is Leasehold expiring in August 2075 but developer will refresh the Lease to 99 Years for the development.