I have summarized the Budget 2018 and how it can affect first time buyers and also property investors.
I hope this will help all of you in planning. Please feel free to post your comments here.
PTPTN Loan Repayment
- 20% discount for full settlement of outstanding debt
- 10% discount for repayment of at least 50% debt in single payment
- 10% discount on repayment via salary deduction
- Extend grace period of loan from 6 to 12 months
*Please note that non repayment on PTPTN loan will result in loan rejection. It will be reflected in your credit record.
Do read my related post at Will PTPTN loan affects the approval your loan?
Reduction in Income Tax Rates
- RM 20,001 – RM30,000: 5% to 3%
- RM 30,001 – RM50,000: 10% to 8% and
- RM50,001 – RM 70,000: 16% to 14%
* It helps to improves the credit rating for bank loan application.
- Maintenance and refurbishment of houses including 1Malaysia Fund (RM200M)
- Stamp Duty exemption for loan agreement and letter of consent to transfer
- Tax exemption on rental of 50% for rent up to RM 2,000.
* Good news for landlords. 50% tax savings on rental for residential properties.
Good and Services Tax (GST)
- Management and Maintenance services of stratified residential building are not subjected to GST.
* Strata owners please take note on this.
From the Desk of