ABSD in HK

[Laguna]

Finally, HK introduced 15% on residential.
HSI down at least 300 points on Monday.

In concert now.

[Lovelle]

Finally, HK introduced 15% on residential.
HSI down at least 300 points on Monday.

In concert now.

Wow, what concer? Hv a gd time

[Laguna]

甄妮

lots of uncles and aunties

[ikan bilis]

you copy me, then i copy you... these people copy lai copy kee very shiok !!....

"新版本: 6个月之内为20%, 6个月至12个月为15%, 12个月至36个月以内为10%
旧版本: 6个月之内为15 %, 6个月至12个月为10 % , 12个月至24个月以内为 5 %"

"另外又推出全新的买家印花税，但不适用於香港永久性居民，外地人士、所有本地及外地注册公司，买楼时除缴付一般印花税，亦要支付15%的买家印花税，三年内出售，同样要缴付额外印花税。"


Under the new measures, a so-called buyer’s stamp duty of 15 per cent would be imposed on non-Hong Kong permanent resident buyers and companies.

A so-called special stamp duty imposed on buyers seeking to sell their properties within two years of purchase would be imposed on buyers seeking to sell within three years.

The scale of stamp duty would be increased to 20 per cent for those selling within six months, to 15 per cent within a year and 10 per cent from 12-36 months.

[Laguna]

Haha, waiting for the concert to start.
My girl just collected the full payment on the sale of her first property as we know it is coming.
Next year, she can get HK PR.

Last trip there was looking at offices, but the price is too high, now the price will be much higher alr

[buttercarp]

Just returned from Vivo city after giving a lift to my gal and her friends who are attending the Halloween Horror Night at USS.
It was extremely crowded there.
After I left Vivocity, there was a long queue of luxury cars waiting to get into RWS.

Wow, HK also ar.... dunno whether it will be effective or not?

[buttercarp]

http://www.scmp.com/news/hong-kong/a...n-local-buyers

Friday, 26 October, 2012, 7:35pm


The government took aim at the city’s overheated property market with another round of cooling measures on Friday, including a new levy on foreign buyers.
Financial Secretary John Tsang Chun-wah said the new levy – 15 per cent of the transaction price – will apply to non-residents and all companies, including local and overseas ones, that buy flats in the city.
A second measure extends the current special stamp duty on property resales. People who sell a property within three years of buying it will be taxed up to 20 per cent. The existing levy covers resales within two years of purchase and a tax of up to 15 per cent.
Both measures will come into effect on Saturday.
Tsang said the new measures would curb demand in the market and supplement other cool-down measures and plans to increase the supply of new flats.
The property market had become “severely out of reach” for many Hongkongers while the economy remained stagnant, with slowing retail sales and exports but rising inflation, he noted.
“Property prices have recorded a 20 per cent increase so far this year. The rises are [moving] in the opposite [direction from] the economy and become unaffordable for Hong Kong people,” he said.
Tsang said he expected more capital to flow into Hong Kong after the United States launched its third round of quantitative easing in September, thereby adding to the demand for flats in the city.
“There is a need to launch the new measures to control the demand,” he said.
Foreign investors accounted for 19 per cent of all buyers of new flats last year, up from 13.7 per cent in 2010 and 5.7 per cent in 2009, according to government figures.

[star]

My dear forumers, this will make them cheong Singapore property. Their attention now will turn to singapore, buyers coming in here in tons!!!

[lifeline]

How soon will our next cooling measure kick in?
What was the interval period so far?

[Laguna]

Watch up Malaysia
they open their arms big

[star]

Should at least allow our property prices up 10% before they intro cm.
Hk up 20% then they intro cm.

[star]

Is it true that foreigners that buy malaysia property can only sell back to malaysian? If its true it is not atttractive. Plus high mortgage interest rate it is not very attractive.

[PN]

"Majulah Singapura" follow by "CM Singapura"

[buttercarp]

Is it true that foreigners that buy malaysia property can only sell back to malaysian? If its true it is not atttractive. Plus high mortgage interest rate it is not very attractive.

No. Not that I know of.
Should be attractive as no capital gain tax as well.

[Sleepyhead]

Is it true that foreigners that buy malaysia property can only sell back to malaysian? If its true it is not atttractive. Plus high mortgage interest rate it is not very attractive.

Have not heard that before. The only restriction for foreigners is the purchase price... Have to exceed RM500k I think... But that is not much for Singaporeans I guess.

[auroraborealis]

I think got capital gains tax for 1st 5 years...
Duno if I remember correctly; 1-3yr 15%, 4yr 10%, 5yr 5%
Something like that

No. Not that I know of.
Should be attractive as no capital gain tax as well.

[Ringo33]

Is it true that foreigners that buy malaysia property can only sell back to malaysian? If its true it is not atttractive. Plus high mortgage interest rate it is not very attractive.

what I understand that for foreigners, you cant buy property below certain value and if you sell within 1 or 2 years, there might be capital gain tax. (not very sure)

[star]

Just found out alot of tax for malaysia property if u want to sell:

1)Government service tax 6%
2)Real property gain tax:
If sell within 2yrs, tax is 15%
if sell within 2 to 5yrs, tax is 10%
3) agent fee is 2% to 3%

So total tax : 1)+2)+3)= wah lau better buy singapore property.

[phantom_opera]

this ABSD for foreigners only got short term effect ...

up 1% last week

[Centa-City Leading Index]
112.25

+0.95 % +2.22 %

[buttercarp]

I think got capital gains tax for 1st 5 years...
Duno if I remember correctly; 1-3yr 15%, 4yr 10%, 5yr 5%
Something like that

Yup, there is capital gain tax for property , only no capital gain tax on equity.

http://www.mida.gov.my/env3/index.ph...erty-gains-tax
Capital gains are generally not subject to income tax in Malaysia.However, real property gains tax is charged on chargeable gains arising from the disposal of real property situated in Malaysia or of interest, options or other rights in or over such land as well as the disposal of shares in real property companies.
Effective from 1 January 2012, gains from the disposal of residential and commercial properties are taxed between 0% and 10% depending on the holding period of real properties as follows:

Up to 2 years - 10%
Exceeding 2 until 5 years - 5%
Exceeding 5 years - 0%

[star]

I haven't add in exchange rate risk. Money changer also want to earn your exchange rate when u buy and sell.

[buttercarp]

Just found out alot of tax for malaysia property if u want to sell:

1)Government service tax 6%
2)Real property gain tax:
If sell within 2yrs, tax is 15%
if sell within 2 to 5yrs, tax is 10%
3) agent fee is 2% to 3%

So total tax : 1)+2)+3)= wah lau better buy singapore property.

So complicating......
Singapore still better lah!
Huat ah !

[star]

Yup, there is capital gain tax for property , only no capital gain tax on equity.

http://www.mida.gov.my/env3/index.ph...erty-gains-tax
Capital gains are generally not subject to income tax in Malaysia.However, real property gains tax is charged on chargeable gains arising from the disposal of real property situated in Malaysia or of interest, options or other rights in or over such land as well as the disposal of shares in real property companies.
Effective from 1 January 2012, gains from the disposal of residential and commercial properties are taxed between 0% and 10% depending on the holding period of real properties as follows:

Up to 2 years - 10%
Exceeding 2 until 5 years - 5%
Exceeding 5 years - 0%

Hi buttercup, rules changed already najib just intro 15% tax if sell within 2yrs and 10% tax if sell within 2to 5yrs. This real property gain tax. Pls see my previous post. And still got gst 6%, agent fee 2 to 3% and exchange rate risk.

[Laguna]

Just found out alot of tax for malaysia property if u want to sell:

1)Government service tax 6%
2)Real property gain tax:
If sell within 2yrs, tax is 15%
if sell within 2 to 5yrs, tax is 10%
3) agent fee is 2% to 3%

So total tax : 1)+2)+3)= wah lau better buy singapore property.

The Govt Service Tax does not apply to property. see more details here http://www.customs.gov.my/index.php/...x--service-tax

Please note : real property gain tax is much lighter than our seller stamp duty

[buttercarp]

Hi buttercup, rules changed already najib just intro 15% tax if sell within 2yrs and 10% tax if sell within 2to 5yrs. This real property gain tax. Pls see my previous post. And still got gst 6%, agent fee 2 to 3% and exchange rate risk.

Oh...
You are right!

http://www.themalaysianinsider.com/m...using-industry

[leesg123]

Just found out alot of tax for malaysia property if u want to sell:

1)Government service tax 6%
2)Real property gain tax:
If sell within 2yrs, tax is 15%
if sell within 2 to 5yrs, tax is 10%
3) agent fee is 2% to 3%

So total tax : 1)+2)+3)= wah lau better buy singapore property.

Dont know anything, better dont any how say.

1. government service tax- There’s also a 6% government service tax to be charged on the real estate commission. SINGAPORE is 7% dude!

2. Real property gain tax: RPGT is charged only on net gains after deducting all related costs such as purchase price, renovation costs and incidental cost e.g legal fees; and Exemption up to RM10,000 or 10% of the net gains, whichever is higher, is given to an indivdual. Holding period up to 2 years, 10% tax (in 2013 will be 15%), 2 to 5 years , 5% (10% in 2013). More than 5 years, 0%! SINGAPORE's seller tax is on the PRICE (loss also kena tax), and is HIGHER %

3. Singapore property agent sell your property FOC??!!

[radha08]

Hi buttercup, rules changed already najib just intro 15% tax if sell within 2yrs and 10% tax if sell within 2to 5yrs. This real property gain tax. Pls see my previous post. And still got gst 6%, agent fee 2 to 3% and exchange rate risk.

ya but for RM 500 you can probably bribe some clerk to change the dates so no need absd...wahahahaha...malaysia boleh..

[leesg123]

The Govt Service Tax does not apply to property. see more details here http://www.customs.gov.my/index.php/...x--service-tax

Please note : real property gain tax is much lighter than our seller stamp duty

CORRECT!!!!

[buttercarp]

Dont know anything, better dont any how say.

If don't say anything then this forum will be a silent place.

Let us share what we think.
Don't be afraid if it is incorrect.
Let us learn together !

[leesg123]

If don't say anything then this forum will be a silent place.

Let us share what we think.
Don't be afraid if it is incorrect.
Let us learn together !

yah, but better get facts right first mah.