BANJIR 2014. The flood waters may have receded but the road to recovery has only begin. It would be difficult to determine how long life will return to normal for the folks affected by the floods. However, some fellow Malaysians are still facing hardships in the states of Sabah and Sarawak. The weather is still unpredictable. What's worse, access to some areas in the interior districts of Sabah and Sarawak was never good to begin with. I have yet to receive any news on how things are over in Sabah & Sarawak but I do wish them the best. We are separated by the South China Seas, but we are MALAYSIANS.

Picture from e-cukai.com

Finally, after more than a year, I can find closure in my sales transaction. It was my first time selling off a property and it there were so much hiccups that I almost coughed out blood!(hemoptysis in medical jargon). The hiccups were mainly due to issues with the lawyer (some how I have been having so much trouble with lawyers). The last piece of the puzzle was getting a refund for real property gains tax (RPGT) from the Inland Revenue Board (LHDN).

Background on RPGT in Malaysia

RPGT is a tax that is imposed on the gains or profit an individual makes after selling a property. This table from loanstreet.com.my sums it up really well.


Between 2008-2009, RPGT was suspended. This was the time when property speculators really had fun. (I was a still a student back then...a nerdy medical student who didn't know anything much about assets). In Budget 2014, RPGT rates were increased in an effort to curb property speculators from flipping. Speculators would buy a property under construction and sell it off once the property is completed. This contributed to the rapid increase in property prices to dizzying levels. Speculators might not care about 15% RPGT rates, but at 30%, they had to think twice before parting with 30% of their gains.

I have only started attempting to invest in properties for two years. Nothing much to shout about. The journey has been very challenging. I had lost hope more than THREE times trying to get into property investments. I can assure you that it can be time consuming, heart breaking and require tons of patience.