Penang’s Economy and the Impact to Penang’s Property Market

BPO Penang
// There’s been uncertainty about the property market since early this year. Investors and home owners alike have taken the wait-and-see approach. This, in part, was due to the then impending GST that was scheduled to be implemented on the 1st April 2015. Many were of the opinion that property prices in Malaysia are on the high side and that there is a bubble coming; that is, many were “expecting” the property price to come down. As it is, depending on the property type, the property price ...

Goods & Services Tax (GST) and the Property Investor

In the Budget 2014, Prime Minister Datuk Seri Najib Razak announced the introduction of the Goods and Services Tax (GST) and when enacted, GST will be effective from 1 April 2015 and standard rated supplies will be subject to GST at a rate of 6%. With the introduction of GST, the current indirect taxation systems of sales tax and service tax will be abolished on the same date. What is GST? GST which is also known as the ‘value added tax’ (VAT) in many countries, is a multi-stage consumption ta...