Effective 1 January 2010
Prime Minister Datuk Seri Najib Tun Razak announced a Real Property Gains Tax effective from 1 Jan 2010. The real property gains tax is five percent irrespective of the property disposal year.
Previously, the real property gains tax are progressive from zero to 30 percent, depending on the holding period of the property. This tax was put on hold from 1 April 2007.
Exemption to the real property gains tax is given to the sale of a residential property for the first time and transfer of properties among family members.
