Not all goods are being taxed. For property, residential property is not being taxed. While commercial property is being taxed. The only unclear property is the savvy term being used by the developer such as SOHO, SOFO, etc. Most of them are being used for residential but the properties are on commercial land. There is still no clear guideline from the Custom. I believe they are also in a headache right now how to define these type of properties.
I read a lot of people cursing, blaming, mocking and many bad writing about government implementation of GST in their facebook comments. I can say all of these people never attend or read the full document about the GST. Yet, they simply barking around like headless chicken. As I always teach my property seminar participants, knowledge is power. If we use it wisely, it can lead to wealth accumulation. But, these people never even bother to learn properly. So, I hope my readers are not one of them. You should attend GST seminar if offered by any party especially the property developer or tax accountant.
Since Malaysian think they are soo smart, I put a simple survey on my facebook (https://www.facebook.com/zulfakar.aspar) what is their opinion on this matter. I am still waiting for the outcome...if only they really have the balls to take the poll.
My question was very simple: based on my simple explanation above, which investment is better for you, the residential or commercial property?
What do you think? and why?
Failure to learn about GST, you may be lost in a labyrinth of stupidity which is equivalent to stupid comments and conclusion of the MH17 tragedy.
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