How Goods and Service Tax (GST) Is Calculated For Selling Or Letting Property?

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How Is Goods & Service Tax (GST) Calculated For Selling Or Letting Property?

All property transactions whether for sale or let will be charged a goods and service charge (GST) which is payable by client who are usually property owner. This GST is collected by all real estate agents on behalf of the Malaysian Government and then paid by the real estate agency firm to the Malaysian Government. This GST is calculated as show by the below example:

Example: If you sell a property at RM200,000, then you are usually charged an agency fee of 3% of RM200,000 = RM6,000
The GST is then calculated at 6% of RM6,000 = RM 300

Total Fee Payable By You To Real Estate Agecy Firm is RM6,300

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