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100 Ways to Save Tax in Malaysia for Property Investors, 3rd Edition

100 Ways to Save Tax in Malaysia for Property Investors, 3rd Edition

Author: Richard Thornton
Publisher: Sweet & Maxwell Malaysia
ISBN: 9789670498119
Published In: March 2013
Format: Paperback
Jurisdiction: Malaysia ? Disclaimer:
Countri(es) stated herein are used as reference only

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100 Ways to Save Tax in Malaysia for Property Investors is a comprehensive guide to the tax implications of property investment and property ownership. As a work that collects together in one source all of the tax issues relevant to property investment and ownership, it is an invaluable tool to help investors in their vital decision-making processes. The book covers the specifics of the taxation of property income, which is in many ways distinct from the taxation of other kinds of income. In doing so, it discusses and illustrates the complexity of the “investment” versus “business” classification of property income in the aftermath of the change in treatment brought about by Public Ruling No 4/2011. The availability of deductions and capital allowances against rental income is discussed with clear examples. The treatment of property income has significant implications for investment holding companies and this added complication is given a special chapter. In addition to dealing with the taxation of property income, the book covers other areas of taxation including real estate investment trusts and assessment tax which have relevance for the property investor. Tax-saving strategies which include tax deferment, tax reduction and elimination of tax liability are explored with practical illustrations.

Besides a wealth of tax-saving ideas for long term investors, the book also has useful tips for people seeking to exploit the property market by realising short term gains and some useful strategies for mitigating real property gains tax. Since its reintroduction in 2010, the burden of this tax has gradually increased to the point where the highest effective rate is now 15%. Anticipating an upsurge of demand for knowledge about this tax it has been given wider coverage in Chapter Nine. This deals with the complicated method of calculating of the tax, the new exemption for part disposals as well as the new compliance requirements for disposer and acquirer.

For the unwary investor who might otherwise stray over the line by dealing with properties in such a way that a profit on sale becomes liable to income tax, the “badges of trade” are examined and useful guidelines and examples are provided. Stamp duty which is a significant cost for property investors is also covered by the book including the calculation of advance stamp duty.

Whether you are a new property investor or an experienced one, a Malaysian or a foreign investor, an individual or a corporate investor, this book contains a wealth of ideas to help you to minimise the taxes you have to pay and to plan your future actions so as to pay as little tax as possible. This book aims to make the understanding of tax issues affecting property investment and ownership easy by using simple everyday language and practical examples to illustrate them. It is certainly a book not to be missed by property investors, tax consultants, real estate consultants, estate agents, lawyers, landlords and anyone with an interest in property income.

Readership
Property investors, tax consultants, real estate consultants, estate agents, lawyers, landlords and anyone with an interest in property income