10-08-2022, 05:39 PM
Why must taxpayers ‘sacrifice’ to help developers? – Datuk Chang Kim Loong
![[Image: 29092020-KUL-_HOUSES_HOME_PROPERTY_ECONO...rien_4.jpg]](https://media.thevibes.com/images/uploads/covers/_large/29092020-KUL-_HOUSES_HOME_PROPERTY_ECONOMY_-_sairien_4.jpg)
The National House Buyers Association (HBA) acknowledges the challenges faced by the finance minister in tabling Budget 2023 today in view of the post-Covid-19’s effect on the global and regional economies as well as the financial health of Malaysia.
Our comments and response to Budget 2023 on matters relating to the property sector only are as follows:
Stamp duty discount of up to 75% for houses worth between RM500,000 to RM1 million.
Does such an incentive includes sub-sale transactions in secondary market?
Although the objective of the stamp duty discount is to reactivate the property industry and also to spur economic growth, the measures appear to be not well thought out again.
It is still very difficult to understand why taxpayers’ money is being “sacrificed” to facilitate the niche market buyers, for the benefit of the housing developers, because that is exactly what is being done here.
- More -
Our comments and response to Budget 2023 on matters relating to the property sector only are as follows:
Stamp duty discount of up to 75% for houses worth between RM500,000 to RM1 million.
Does such an incentive includes sub-sale transactions in secondary market?
Although the objective of the stamp duty discount is to reactivate the property industry and also to spur economic growth, the measures appear to be not well thought out again.
It is still very difficult to understand why taxpayers’ money is being “sacrificed” to facilitate the niche market buyers, for the benefit of the housing developers, because that is exactly what is being done here.
- More -