|
Local Taxes & Assessments: For a Small Apartment
Tax Liability
Real property gain tax is not levied upon disposal of the property for which a gain has been made.
Condominiums and Apartments
Maintenance Charges & Sinking Fund (payable monthly)
Monthly maintenance charges generally: @ RM 0.25 p.s.f
Monthly sinking fund generally: @20% of the total monthly maintenance charge
Example for an apartment @ 531 sq. ft & and apartment @ 788 sq. ft.
| |
Example: 531 sq. ft |
Example: 788 sq. ft |
| Maintenance charges: |
531 x RM 0.25 = RM 132.75 |
788 x RM 0.25 = RM 197.00 |
| Monthly sinking fund: |
RM 132.75 x 20% = RM 26.55 |
RM 197.00 x 20% = RM 39.40 |
Total Monthly:
|
RM 159.30 or UK£ 23.43 |
RM 236.40 or UK£ 34.76 |
‘Quit Rent’ (A Land Tax – payable to land office)
Approximately RM 50.00 per annum (UK£ 7.35)
‘Assessment’ (Council Tax) – payable to local authority , e.g. Port Dickson District Council)
This depends on the size of the unit.
Approximately RM400.00 (UK£58.82) to RM500.00 (UK£73.53) per annum for a property similar to the above.
|
Local Property Taxes 
