Abolish the tax for the individual category

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NSTletters: The RPGT is effective to curb property market speculation, preventing the selling of the property in the early years.

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The issue is the individual category, whereby any Malaysian who sells his own residential house is subject to five per cent RPGT after year five and above.

Most of middle group of the population in their lifetime may have to dispose of the old residential house and acquire another house for various reasons. In view of this, I hope the government will abolish the five per cent RPGT tax. Often, the two most common objectives to impose the RPGT perpetually is to either increase government revenue or curb property speculation. Obviously, the tax structure is to stop speculation and stabilise the property market.

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