As property sales have gone flat, real estate agents are asking the government to consider lifting sales and services tax and the real property gains tax.
PETALING JAYA: With the property market at a standstill during the national shutdown of public activities, estate agents have called for a year’s relief to get business back on track.* sales and services tax on property sales to be suspended until the end of the year; * real property gains tax to be zero-rated until the end of the year to boost property sales, which the association said had already gone soft. The tax, ranging from 5% to 30%, is levied on property sales within a time scale of one to six years after purchase.
The association’s president, Lim Boon Ping, also urged the government to provide subsidies for estate agents on a similar basis to those provided to e-hailing drivers.Subscribe to our newsletter and get news delivered to your mailbox.
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