Latest Project Highlights
 
Rice Miller City Residences
                               ...
New high-end luxury condominium in Penang island
Minden Residence
  Minden Residence is located at Gelugor, Penang, comprises 8 units of semi-detached houses and 3 units of...
Moonlight Bay
One One Eight @ Island Plaza
One One Eight @ Island Plaza A Seamless Style of Living 118 @ Island Plaza takes its cue from the energy, vivacity...
Pearl Regency
    High Living, Sky Living The skybridge. The international activity centre. A 3-story shopping mall....
Fettes Residence
Fettes Residence Million-Dollar Views Enhance The Priceless Living Experience Let the sea, that stretches across the...
Setia Pearl Island
Setia Pearl Island - The Island of Dreams Since its debut in early 2007, Setia Pearl Island has established its name...
Seri Tanjung Pinang
HERE, YOUR LAWN EXTENDS TO WHERE THE SEA MEETS THE SKY. Every home at Seri Tanjung Pinang combines detailed...
The One, Penang Cyber City
CAPTURING IMAGINATION REALIZING DREAMS Unique, Unequaled and cutting edge, The One is gearing up to be one of the...

5% property gains tax stays irrespective of year of sale

IPOH:The real property gains tax, effective Jan 1 next year, is only 5% irrespective of the year when the property is disposed, says Second Finance Minister Datuk Seri Ahmad Husni Hanadzlah.“The real property gains tax for the first year is 5% and is the same for the second, third, fourth and fifth year,” he said when clarifying a news report in the business page of The Star yesterday.He said the real property gains tax as announced by Prime Minister Datuk Seri Najib Tun Razak when tabling the 2010 Budget in Parliament on Friday provided exemption for the sale of a residential property for the first time and transfer of properties among family members like father to children.Star’s BizWeek had reported that the Government proposed to re-impose the real property gains tax for monetary gains from property disposals.The report said that based on the Finance Bill, disposal within two years of acquisition would be taxed 30%, 20% in the third year and 15% in the fourth year while disposal after five years and beyond would still be subjected to 5%.On the non-payment of bonus for civil servants, Ahmad Husni said the country’s financial situation did not allow for bonuses to be given out.Source : Sunday Star Online, October 25