Budget 2019: 5% real property tax on Malaysians

KUALA LUMPUR: The government will impose a 5% real property gains tax on all Malaysians and raise the tax by 5% for foreigners.
When tabling Budget 2019, Finance Minister Lim Guan Eng said this was to streamline the tax on property sales.
The RPGT is currently a tiered tax that ranges from 30% for property sold inside the first year of its date of purchase to zero per cent after five full years of ownership.
“For companies, individuals who are not Malaysians or hold permanent residency, the RPGT rate will increase from 5% to 10%.
“For individual citizens and permanent residents, the rate will increase from 0% up to 5%,” said Lim.