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GST is Part and Parcel of Our Life [ January 21st, 2014 ] | 318 views | Leave a Comment

Everything we touch seems to be related to taxation. However, not many are fond of taxation but somehow; we have no choice but to acknowledge its importance because the only things certain in life are death and taxes which no one can escape from.

While most of us work hard to increase our wealth and like to accumulate it via investment in properties when opportunities arise, some may have concerns on whether they are wealthy enough in the eyes of the Malaysia Inland Revenue (IRB) to afford properties which are viewed as “big ticket items”. This is especially for those who are pocket rich but who might not have declared their full taxable income to the IRB.

They are therefore not very sure if the IRB will pay them an unexpected visit when they start investing in properties. Hence, I noticed that if a person has yet to fully declare his true income which he has earned, he may choose to keep himself away from the radar of the IRB by being less active in property investment even though he is rich.

Property as an Ideal Investment

Nevertheless, most people including me agree that owning a roof over our heads is one of the most important personal goals life. In addition, putting our extra money in property investment could possibly bring better returns as compared to keeping our hard earned money in cash or placing it with the banks which can only give us a small return ranging from 0.2%-3% per year. Personally, I feel that at the end of the day, investment in properties is still smarter way to preserve and grow our wealth over the long term.

How GST plays an important role

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In addition, with the proposed implementation of the Goods and Services Tax (GST) come April 1, 2015, most goods and services including certain properties will be subjected to 6% GST. This will affect the supply of property which will potentially impact the top and bottom line of property developers due to the expected increase in costs. Thus, with the coming GST, many are interested to know why it will affect the property market.

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Food Review @ Pavilion Cafe, Penang

It has been a while since the last invited review. At first, I would like to thanks Pavilion Cafe and Criz Lai for making the arrangements.

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Pavilion Café is an old fashioned Chinese interior coffee house which is just located at the opposite of Kwang Wah Yit Poh Press Bhd, Georgetown. It offers a variety of service and amenities to suit the individual needs. Cafe, resting area, family room, are some of the facilities on offer. The boss there is very friendly and the place is suitable for get-together, chit chatting and relaxation as it is cozy enough.

Before we started having the dinner, each of us had a chance to look and feel of the 5 new Ninetology models such as Ninetology U9R1, U9X1, U9Z1, U9Z1+ and Ninetology Stealth 4X. My most preference would be the Ninetology U9Z1+ as it comes with a very high camera quality which is good enough for photo shooting when the DSLR camera is not with me.

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January 13th, 2014 | Posted in » Review | Leave a Comment | 426 views

My New Year’s Resolution for 2014

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The end of a year is the best time for us to flash back what we had done and what we should do next. It’s good to start fresh and get your life moving in the direction you really want. It doesn’t matter how much money you have or make, by opening more possibilities via goal setting, you will start living the life that you want.

What I Had Achieved in Year 2013?
Career Plan
- Certified by Google AdWords (to increase business opportunities)
- Certified by HP
- Obtained RSPW certificate (Learnt up SPSS skills, and ways to do final project)

Health Plan
- Penang Bridge International Marathon 2013 certificate & medal
- Starwalk 2013 certificate
- Komtar Tower Run certificate & medal

Wealth Plan
- Additional income to primary job (to increase personal net wealth)
- Settled all PTPTN study loan in full (to increase personal net wealth)

New Asset
- Won a unit of Ninetology phone during Blogger Social Night’s lucky draw session.

My theme for the year of 2014 is….

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December 24th, 2013 | Posted in » Achievement 2013 | Leave a Comment | 696 views

Will GST Exemption Lower the Property Prices?

The expectation is quite high that an increase in the Real Property Gains Tax (RPGT) and an abolition of the developer interest bearing scheme (DIBS) will dampen the property market. But, there has been little attention on our government’s move to exempt residential properties from the Goods and Services Tax (GST), which is going to replace the current Sales and Service Tax (SST) effective from April 2015.

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Do you think the prices will drop or remain unchanged? To me, it is very unlikely. Why? First, there is a need to understand GST and the supplies that come under it. As for exempt supplies, the category in which the residential properties have been placed are not subject to GST. So, businesses providing exempt supplies cannot charge GST on the final product to their consumers. However, those developers who are not eligible to claim input tax from the government on GST paid will then be saddled with additional costs due to the 6% of GST which is payable on almost all its inputs such as construction cost, services, building materials, etc cannot be claimed from the government. Being business entities, they will most probably pass on the non-claimable tax to the consumer end.

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November 27th, 2013 | Posted in » News & Announcement, Property | Leave a Comment | 610 views

What Should Know About Auctioned Property?

There are many ways and means to go about buying a piece of property, whether to live in or as an investment. However, looking at today’s rising costs of living, belts need to be tightened, and married couples both need to work hard in order to enjoy a comfortable lifestyle. Still, there are those with financial freedom plans, always look out for good investments to increase their wealth and enjoy their life’s comforts. And, they found that by investing in auctioned property, it is one of the smartest ways to grow their fortune.

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For property investors, auction is a great place to buy properties at negotiated prices. However, you must be fully educated on all aspects of auctions in order to achieve success using this strategy. Knowledge makes the difference between making money and not making money. The first timer need to first understand how auctions come about, and what goes on at the credit or legal department of banks before a property is put up for auction.

There are all kinds of property types up for auction. It can be ranged from residential to commercial or even land. One can actually bid for auctioned properties through auctions hosted by the Land Office or the High Court or via private auctions conducted by licensed private property owners.

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October 24th, 2013 | Posted in » Property | Leave a Comment | 1,088 views