Tax

A recent article highlighted Khazanah Research Institute's (KRI) call for the Malaysian government to consider a vacancy tax on unoccupied and unsold residential and commercial units. While similar taxes are practiced in cities like Vancouver and Melbourne, the proposal's suitability for Malaysia's property market is questioned by the National House Buyers Association (HBA). Unlike countries where vacancy...

The government is levying higher ABSD (Additional Buyers' Stamp Duty) rates, in a bid to cool the property market that remains firm even with a dimmer economic outlook. “The revisions to the ABSD rates to help moderate investment demand will complement our efforts to ramp up supply, to alleviate the tight housing market for both owner-occupation and rental,” says the Ministry of Finance, Ministry...