Malaysian Property Tax Planning 2011

Event Title: Malaysian Property Tax Planning 2011

Date: 15 January 2011 (Saturday)

Time: 9.30am - 1.00pm

Venue: 942, 9th Floor,Block A3, Leisure Commerce Square, 9, Jalan PJS 8/9, 46150 Petaling Jaya, Selangor

Fees: RM 200 per participant
         RM 150 per participant (group of 2 and above)
         (Inclusive of course materials, exclusive lunch)

Only limited to 30 participants

For more information, please contact:
TST Consultants Sdn Bhd
No. 5, Jalan 3/125D, Desa Petaling
57100 Kuala Lumpur
Tel:+603 9057 2233 Fax:+603 9057 1323
H/P: +6016 209 2085
Email:info@tst.com.my

• Email us your name and hand phone no to : info@tst.com.my, or
• SMS us your name to +6016 209 2085, or
• Call us at +603 9057 2233

Introduction

This course will cover many aspects of the Malaysian Tax Law, particularly the Real Property Gains Tax Act, 1976. In addition to the RPGT, the course covers other aspect of rule of laws includes IRB Public Ruling, Economic Planning Unit Guideline, Case law, Tax Planning and Tax Audit.

Course Contents

• Meaning of chargeable person, chargeable gain and chargeable assets under Real Property Gains Tax Act (RPGT)
• The allowable losses under RPGT
• RPGT exemption for individuals
• RGPT exemption for companies
• Real property companies (RPC) and Real Property company shares
• Advantages of buying properties under personal name and under companies
• Public ruling on Income from letting of real property
• Economic Planning Unit guideline for foreign investors
• Transfer of Real Property from fixed assets to stock under companies
• Join venture tax planning between the land landowner and developer
• Tax Audit on contractors and developers

Who Should Attend

• Property investors, local and foreigner
• Property Agents
• Property contractors
• Join venture parties, land owner and developer.

Speaker

Dr Tan Thai Soon is the founder and managing director of TST Consulting Group in Malaysia. He is a management and tax consultant with over 18 years of experience.He obtained his Doctor of Business Administration in 2010 from University of Newcastle, Australia, specializing in the study of Knowledge Management in the context of Malaysian Enterprises. He holds a Master of Science in Management Accounting and Planning from University Utara Malaysia in 2007.

He is an associate member of the Chartered Tax Institute of Malaysia, a member of Malaysian Association of Company Secretaries (MCCS), and a fellow member of Malaysian Institute of Management (FMIM). He is also a Certified Financial Planner (CFP) and a Registered Financial Planner (RFP).

He has more than 18 years experience in corporate secretarial and taxation matters. Under the Self Assessment System (SAS) since 2001, he has effectively handled tax audit and tax investigation assignments for clients.

Program Title: Malaysian Property Tax Planning

Introduction
This course will cover many aspects of the Malaysian Tax Law, particularly the Real Property Gains Tax Act, 1976. In addition to the RPGT, the course covers other aspect of rule of laws includes IRB Public Ruling, Economic Planning Unit Guideline, Case law, Tax Planning and Tax Audit.

Course Contents

• Meaning of chargeable person, chargeable gain and chargeable assets under Real Property Gains Tax Act (RPGT)
• The allowable losses under RPGT
• RPGT exemption for individuals
• RGPT exemption for companies
• Real property companies (RPC) and Real Property company shares
• Advantages of buying properties under personal name and under companies
• Public ruling on Income from letting of real property
• Economic Planning Unit guideline for foreign investors
• Transfer of Real Property from fixed assets to stock under companies
• Join venture tax planning between the land landowner and developer
• Tax Audit on contractors and developers

Who Should Attend

• Property investors, local and foreigner
• Property Agents
• Property contractors
• Join venture parties, land owner and developer.

Speaker

 Dr Tan Thai Soon is the founder and managing director of TST Consulting Group in Malaysia. He is a management and tax consultant with over 18 years of experience.He obtained his Doctor of Business Administration in 2010 from University of Newcastle, Australia, specializing in the study of Knowledge Management in the context of Malaysian Enterprises. He holds a Master of Science in Management Accounting and Planning from University Utara Malaysia in 2007.

He is an associate member of the Chartered Tax Institute of Malaysia, a member of Malaysian Association of Company Secretaries (MCCS), and a member of Malaysian Institute of Management (MMIM). He is also a Certified Financial Planner (CFP) and a Registered Financial Planner (RFP).

He has more than 18 years experience in corporate secretarial and taxation matters. Under the Self Assessment System (SAS) since 2001, he has effectively handled tax audit and tax investigation assignments for clients.

For more information, please contact:
TST Consultants Sdn Bhd 

• Please click here to find out the date of events
• Email us at: info@tst.com.my
• SMS us at +6016 209 2085, or call us at +603 9057 2233
• Visit us at http://www.eproperty.com.my/p/events.html

Economic Planning Unit Guideline

By Tan Thai Soon

Economic Planning Unit (EPU) of Prime Minister Department (2010) provides guideline on the acquisition of property in Malaysia by foreign investors. The current guideline take effect from 1 January 2010.

A) Purchase of residents property

• Foreign investor can only purchase resident property value above RM500,000 (EPU 10.1)
• The above acquisition does not required the approval of EPU ( EPU 2.3)
• A state consent may be required (eg. Jadual 18) subject to the conditions of individual land title (EPU 2.3). Generally, a freehold property resident property does not require a state consent.

B) Purchase of Commercial Land and Industrial Land

• The purchase of commercial land value above RM 500,000 (eg. shop lot, office lot and retail lot) and the purchase of industrial land value above RM 500,000 (e.g. factory or factory lot).
• The above properties acquisitions do not require the approval of EPU
• However, the approval of the respective government ministry and/or agency may be required.
• A state consent may be required (eg.Jarual 18) subject to the condition of individual land title (EPU 2.2 (a) and (b))
• The above property transaction need to be registered in the name of a company incorporated (eg. Sdn Bhd or Bhd) in Malaysia (EPU 4).

C) Purchase of Agriculture Land

• The purchase of agriculture land value above RM 500,000 or with a minimum land area of 5 acre and above for the following purposes (i) for commercial agriculture activity using high and modern technology; (ii) for agro tourism activity; or (iii) for agriculture activity with export products.
• The above properties acquisitions do not require the approval of EPU
• However, the approval of the respective government ministry and/or agency may be required.
• A state consent may be required (eg.Jarual 18) subject to the condition of individual land title (EPU 2.2 (c))
• The above property transaction need to be registered in the name of a company incorporated (eg. Sdn Bhd or Bhd) in Malaysia (EPU 4).

D)Transferring of Property to close relative who are foreigners

• The close relative includes, husband & wife, grand parents, parents, brother & sister, and adopted children registered with the national registration office. Generally, a proof of birth certificate or other relevant documents may be sufficient.
• There is no restriction in respect of value of property to be transferred (eg. the property transfer may be valued below RM 500,000)
• The properties transfer includes all categories of properties
• The above transferring of property does not require the approval of EPU
• However, approval of the respective government ministry and/or agency may be required
• A state consent may be required (eg. Jarual 18) subject to the condition of individual land title
• The above transferring of property can be registered in an individual name who are foregners

E)Transaction involving dilution of Bumiputra interests and Government interest in property above RM20 million

• The EPU approval is required for direct purchase of property above RM20 million
• The EPU approval is required for purchase indirectly through shares in a company where the property value consists of more than 50% of the total value of company assets which value (property) more than RM 20 million.

Our Team

Dr. Tan Thai Soon is the managing director of TST Consultants Sdn Bhd. He obtained his Doctor of Business Administration in 2010 from University of Newcastle, Australia, specializing in the study of Knowledge Management and Malaysian enterprises. He holds a Master of Science in Management Accounting and Planning from University Utara Malaysia in 2007 and Bachelor degree in Economic Studies from University of Newcastle Upon Type, UK in 1984.

He has obtained substantial experience in financial and management consultancy assignments while attached with KPMG Peat Marwick Consultants Sdn Bhd, which include; feasibility study as special consultants, monitoring of housing projects, corporate recovery and receivership assignments.

He is currently an appointed financial and tax consultant to various housing developers and contractors in Malaysia. He provides consultancy services in areas of financial management, management consultancy, project management, information system and knowledge management.

Mr KP Bose Dasan is a director of TST Consultants Sdn Bhd and holds an economics degree from University of Malaysa and a MBA from Cranfield Inst. of Technology. KP Bose has wide experience in taxation including eight years in the Inland Revenue Department. He is currently an elected member of the Board of governors of the Financial Planning Association of Malaysia.

He is a leading trainer in taxation and financial planning with PNB Investment Institute and Kasturi College. He is a pioneer lecturer in University Malaysia on Applied Financial Planning. Mr Bose is a regular feature writer in the leading personal financial magazines like "Personal Money" and " Smart Investor", and currently writes regularly in The Edge financial magazine.