Friday, October 25, 2013

Budget 2014 - Property Sector

... shocked with the annoucement and I would anticipate panic sales prior to 1st Jan 2014.

a) RPGT rate is increased for the properties disposed within the holding period below:
    0 - 3 years = 30%
    < 4 years = 20%
    < 5 years = 15%
    ... companies are taxed still at 5% after 5 years

b) Minimum price of property (for foreigners)
    Increase from 500k to 1 mil

c) No DIBS

d) No GST for property purchasing.