Tag: Information

INFO : Every Property Tax in Malaysia that you should know

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Property Taxes in Malaysia can be quite a challenge to a first time buyer or investor. You might be shocked to find out the different taxes imposed on you when you purchase or even own a property. The following are the property taxes that you should know before a major property decision.

TAXES INCURRED WITH OWNING AND MANAGING REAL ESTATE

QUIT RENT (CUKAI TANAH)

Commonly known as cukai tanah, this tax that is relevant to anyone owning a property. Essentially, it is the price you pay for owning a land in Malaysia and yearly income to the state government. The price you pay for quick rent varies in accordance to the land size and property asset category. You will have to pay quit rent on an annual basis regardless of whether the property is freehold and leasehold or whether it is a strata titled property. The quit rent rate depends on the each state government’s decision to set and amend.

ASSESSMENT TAX (CUKAI TAKSIRAN / PINTU)

If your property is located within a local authority (Majlis Pembandaran), you will be required to pay an assessment tax based on the annual rental value. The final sum is calculated based on the property type, location and multiplied by a set of routes. For residential properties, it is levied at a flat rate of 6% and can be paid in 2 instalments.

TAXES INCURRED WHEN ACQUIRING AND TRANSACTING REAL ESTATE

STAMP DUTY

During the completion of a property transaction, the legal documents such as the SPA and Loan agreement needs to be recognized and notified to the government.  Stamp duties must be paid for any property transfer related documents to be legally recognised. The amount of stamp duty required is levied in proportion of the property’s value.

REAL PROPERTY GAINS TAX (RPGT)

Since the abolishment of capital gains tax in 2007, capital gains through property transfers are no longer subjected to income tax laws. There is, however, the real property gains tax, which is levied on any disposal of real property or shares of property companies. RPGT is a type of capital gains tax that charges you based on your profit gained through property transactions. One reason why RPGT was introduced is to discourage flipping properties where people renovate old properties and mark up prices. This is to prevent property prices from greatly increasing above market value as a result of speculation. As the names suggest, you are only taxed through any profits gained from the disposal of the property, hence no taxes need to be paid if there is a break even or a loss.

RPGT Rates
Disposal of property Malaysia citizen & PR Non-Citizens & Non-PR Companies
Within 3 years from the
date of acquisition
30% 30% 30%
In the 4th year 20% 30% 20%
In the 5th year 15% 30% 15%
In the 6th year and
subsequent year
0% 5% 5%

GOODS AND SERVICE TAX (GST)

If you are renting out or selling a residential property, your income generated will be exempted from GST. However, the income gained through commercial properties are taxable by means of letting out or even disposing of commercial properties in some circumstances. To have commercial property to be taxable under the 6% GST, the homeowner must own 2 or more commercial properties or a commercial property valued at more than RM 2 million. Alternatively, the homeowner may own a land larger than 1 acre or earn more than RM 500,000 through yields from the properties.

 

Conclusion

Property taxes can be troublesome and unwelcoming to an average homeowner. With the different property taxes around limiting and shifting your decisions, it is important to take each of them into consideration as it can add up additional costs to your property portfolio.

CREDIT : bumbung.co

INFO : Understanding Feng Shui when buying a house

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Feng Shui, an ancient Chinese art is not only a trend in Asia but also in the western world. Although feng shui might not be on your list, do note that as a homeowner, you can get a better bargaining value when selling or renting your property. Since the appreciation of your property is sometimes tied to feng shui, these basic tips should get you started on the way.

Landscape:

Contours, hills, rivers and roads all determine the flow of positive or negative energy

The structure and design of the house aren’t the only concern when it comes to dealing with feng shui. Contours, hills, rivers and roads all determine the flow of positive or negative energy.

For starters, avoid buying homes that are situated at junctions or those at the dead end of the road. Sharp angles or “poison arrows” form in these areas, affecting the property either directly or indirectly.

When it comes to the shape of the land, the property should be located in an area that is either rectangular or square and is neither too long nor too wide. You can easily observe this via Google maps or by looking through every window of the home. There should be no sloping land behind the property or a house situated on the low side of a hill, or at the top of it.

A house located in the lower region of the hill lacks support. Take note that the road should also bend towards the house, not away from it.

Atmosphere:

istock_953814926

A good neighbourhood is filled with activities

The prospective buyer should not feel a sense of dread when entering the house that he or she is interested in buying. This environment is extended towards the surrounding neighbourhood as well.

An area that is too quiet, with many vacant unsold homes is a sign of inactive energy. People subconsciously avoid places that give an uneasy vibe, and that makes it difficult to sell or rent out your future home.

A good neighbourhood is filled with activities. There should be children playing, pets around and people tending to their yards. Observe the condition of the streets. Tidy neighbours and clean streets are a bonus advantage. Ideally, the backyard of the house should be slightly larger than the front yard.

Main door:

front doorway

The main entrance represents the mouth of the house which receives most of the energy

The main entrance represents the mouth of the house which receives most of the energy. Hence, it is essential to consider the design that complements the property’s feng shui flow. The open area in front of the main entrance accommodates the collection of energy. Therefore, the bigger the area, the easier it is for power to stay. Note that the steps leading to the front door shouldn’t be too near.

When opening the main door, it is important that we should not see the toilet or the door to the backyard immediately. Avoid the main entrance that overlooks the ocean. Door alignments are also to be avoided as it creates a fast flowing current of energy. The energy flow should be softened, where it slowly nourishes all the areas of the house. The ratio of the main door to the size of the house should be proportionate as well.

Another factor is the presence of a staircase facing the main door. A construction such as this will lead the energy flow directly to the top of the house, leaving the ground area without good energy.

Living room:

Contemporary lounge / living room with sofa, curtains, table and vases

A strategically placed living room is ideally located in the centre of the house

A strategically placed living room is ideally located in the centre of the house. To retain positive energy, the shape of the area should be rectangular or square, not an irregular polygon. Note the ambience of the surrounding, the availability of windows and openings that allow the entry of light. The living room should also be visible the very moment you enter through the main door.

Consider if the ceiling is filled with spanning beams which are believed to create bad luck for the occupant. However, it can be softened by adding decorations.

Kitchen:

Vegetables, mushrooms and cheese on countertop, ready for preparing a healthy meal at home.

Avoid having a kitchen near the front door or at the centre of the home

It is auspicious to have the kitchen situated at the back door of the house. Avoid having a kitchen near the front door or at the centre of the home. It should not be directly underneath a bedroom or toilet. Windows should ideally be located at either the eastern or western region of the kitchen while the sink at the north.

Inspect the tap water or faucets and make sure that they are not leaking. The constant flow of water signifies the draining of one’s wealth from the house. If possible, have them repaired.

Toilet:

White toilet bowl in modern bathroom at hotel. Interior of toilet in bathroom.

The bathroom and bedroom should be visually separated due to their differences in energy

Consider painting the walls of the bathroom with the right colours. Most bathrooms are painted white by default which is acceptable. Consider the colour blue as it signifies purity and the cleansing effects of water. While green, on the other hand, represents growth and life. The bathroom and bedroom should be visually separated due to their differences in energy. You can use a screen or either a curtain for that measure.

Bedroom:

istock_512341890

Overhead beams should be avoided due to the pointy edges of the beam because it creates unease due to the effect of the beam pointing downwards.

Overhead beams should be avoided due to the pointy edges of the beam because it creates unease due to the effect of the beam pointing downwards.

Rooms that are located at the top of the house are less than ideal if the ceiling is slanted or sloped. Besides the lack of space, it would also be an uncomfortable area to sleep in, especially when you are sleeping on the side of the slant.

 

credit : propwall.my

INFO : Basic maintenance tools you really, really need in your home

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Like many things in life, a busted faucet and a flickering light are common home fixture malfunctions that cannot be fixed with a magic wand.

The struggle is real. Particularly so for new homeowners who understand the importance of regular and ad-hoc maintenance, but aren’t quite sure how to go about compiling their first serious toolkit, or where best to invest in quality items.

Read on for some basic handy tools that we guarantee you’ll be reaching out for over and over again.

Hammer

A claw headed hammer is perfect for, of course, hammering things home. But they’re also great for pulling up nails and prying things apart. You’ll need it to hang pictures, assemble furniture, rip out nails and more!

Bucket

Who doesn’t love a good, handy bucket? A 5-gallon bucket is a must-have for any home-cleaning endeavour that requires liquid, like mopping.

Step ladder

A 6-foot step-ladder is perfect for climbing up to those [hard to reach places, which you’d need to get to for cleaning] (link to ‘6 Spots You’ve Probably Missed When Cleaning Your Home’ article) and to access your secret hideout.

Spirit level

Ideal for hanging up art, planning where to drill holes, drawing lines, and basically any instance when you need to determine a straight line that is parallel to the floor.

Measuring tape

Opt for the 25 footer with 1-inch wide tape. You want it to be rigid enough so that you can extend the hook without needing someone on the other end.

It’s perfect for measuring up a stretch of wall and rearranging furniture.

Screwdriver

To save space, we recommend investing in multi-bit screwdrivers with magnetised, switchable heads.

Ensure your collection includes a Phillips screwdriver and a flat head screwdriver. Quality is key here – a blunt tool will struggle to drive and loosen screws.

Pliers

You’d do well to have a couple of variations of different pliers in your toolbox. Locking pliers are extremely versatile, whilst needle-nose pliers are ideal for working with wire. Pliers are great for any task that requires extra grip.

Adjustable spanner

A must-have tool for removing nuts and bolts, working with plumbing, or simply helping to turn those tough screwdrivers that final inch. Find yourself an adjustable wrench with jaws that open to about 1-1/8 inch.

Selection of nails and screws

It pays to have a selection of different nails and screws at hand for emergency furniture and appliance fix-ups.

Safety equipment

Often overlooked, but very important. Gloves and eye goggles keep your peepers and hands safe while you’re busy fixing things.

Cordless drill and drill-bit kit

A cordless drill gives you fantastic freedom to move around the home to assemble furniture, hang up pictures, and basically drill holes wherever you fancy.

Utility knife

The jack-of-all-trades of blades. The utility knife is an indispensable tool to perform odd jobs that require cutting – from cutting drywall and exposing nail heads, to scratching out old grout. Just be sure to replace the blade regularly.

Flat scraper or putty knife

Last but not least – the humble putty knife. This is the perfect tool for any job that requires spreading surfaces or applying even pressure – from scraping paint off windows to applying wall filler.

 

CREDIT : iproperty.com.my

INFO : How to get the best WIFI at home

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We’ve all been there: You’re watching the latest season of Orange is the New Black on Netflix when, all of a sudden, the video jerks to a stop—and the endless buffering begins.

It’s frustrating when your network slows down (or shuts down completely), but there are a few tricks you can use boost your Wi-Fi signal.

Here are a few of tips to help you:

1. Don’t hide your router

Most people hide their routers because they’re unsightly or in the way, but placing a router in a closet or in a cabinet is a one-way ticket to slow Wi-Fi:

Walls and doors can degrade and absorb signal strength.

Find a central location in your home and put your router on a table or bookshelf. Because some routers are designed to project a Wi-Fi signal slightly downward, keeping it higher off the ground will evenly distribute a Wi-Fi signal throughout your home.

2. Stay away from appliances and metal objects

Kitchen, Park Place Residence.

Microwaves, cordless telephones, fluorescent lights, and even other routers in your neighbor’s home or apartment may interfere with your Wi-Fi signal. To reduce interference, place your router away from household appliances and set it to a different wireless channel and frequency.

Using online tools—Acrylic Wi-Fi for Windows and AirGrab Wi-Fi Radar for Mac, for example—can help you find the right wireless channel with the least amount of interference. If you want an easier fix, most routers have an automatic option to find the best channel for your location.

You should also avoid placing your router near metal objects, which can absorb signal strength.

3. Reset on a schedule

It sounds simple enough, but a majority of tech support problems can be cleared up by simply resetting or rebooting your router or modem on a regular basis. (It’s also probably the first thing your Internet provider will ask you to do when you call to complain, so head them off at the pass.)

And if you buy an outlet timer, you don’t even have to worry about it: Set the timer to reset your router once a day at an off-peak time.

4. Update your firmware

Yes, we know—running firmware updates is annoying and time-consuming. But if you have an older router, those updates ensure your router’s software is running at its best and most efficient. And remember: It’s best to buy a new router every seven or eight years.

5. Adjust your router’s antennas (if your routers have any)

Most routers have two adjustable antennas on top. If yours are parallel, it’s time to switch things up and go perpendicular.

Wi-Fi works best when signals are parallel to a device’s internal antenna, which are horizontal in laptops and vertical in desktop computers. Internal antennas vary in mobile devices, depending on how you’re holding them (in portrait or landscape mode).

Keeping a router’s antennas perpendicular to each other will ensure a solid connection between your home network and your smartphones and laptops.

6. Give your router a superhero metal cape

It’s not for everyone, but here’s a creative DIY solution (if your fiber broadband router has antennas). Cut open an empty soft-drink can. Then fan it out like a sail around the antenna of your router. This can help focus your Wi-Fi signal and squeeze out a little more distance. If it’s just a small corner in your home suffering from slightly slower speeds or minor drop-offs, it may be enough.

You can read about it in more detail here. But be careful not to hurt yourself!

7. Password-protect your network

Because home Wi-Fi speeds are (slightly) dependent on how many people are using it at one time, a strong password is key: It will ensure that only authorized people are using your network.

Take advantage of the security already built into your router and select a password (or better yet, a passphrase) that is a hard-to-figure-out combination of letters, numbers, and symbols.

8. Stagger heavy bandwidth usage

If too many people on your home network are using heavy bandwidth at the same time, like playing online video games, watching Netflix, and downloading movies and music from iTunes, then your entire network will slow down for everyone.

Try to stagger heavy Internet use to make sure your home network is running fast and smooth for all users.

9. Invest in a repeater

Xiaomi Pro Wifi Amplifier (S$19.98) Picture: Lazada.sg

Most routers have a range of about 150 feet. If you live in a big house, devices and computers in rooms farthest away from your router might have a hard time connecting to your home Wi-Fi network.

The easiest fix to boost the signal in those rooms is to buy a Wi-Fi repeater, which can plug into any wall outlet and will increases a signal’s range and strength to the farthest parts of your home (with a corresponding decrease in internet speed for those connecting to the extender, but you can’t have everything).

 

CREDIT : iproperty.com.my