The tax levied on the profit

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These include the costs of: Legal advice when buying and selling a house Home renovation Real estate agent fees Note: you can refer to the Real Estate Tax Act to know more about the allowable costs. Please refer to the Attorney General's website . After that, subtract RM10,000 or 10% of the profit before the exemption. If you use the template I provided, this amount will be calculated automatically.


The amount you will receive is the taxable profit. This is the croatia whatsapp fan amount you need to multiply by the property tax rate. This tax rate depends on the year in which we sell the house from the period of ownership: First to third year: 30% Fourth year: 20% Fifth year: 15% Sixth year onwards: 5% Let's say you buy a house in December 2017 and sell it in January 2019, you are considered to have sold it in the second year.


is 30%. 3) Penalti lock in period If the house you want to sell was just purchased or refinanced, check your loan offer letter. The offer letter may have a penalty clause if you sell within a certain period. This period is usually three to five years. For example. Let's say in the offer letter, the bank imposes a penalty of 3% of the principal loan of RM300,000 for sales within 5 years after getting the loan.