Property consultants expect positive effect from zero-rated GST measure 17th May, 2018

PETALING JAYA (May 17): With zero-rated Goods and Service Tax (GST) beginning next month, property consultants expect it to be a fresh lead that encourages purchasers to end the wait-and-see approach and make their buying decision.

Knight Frank Malaysia managing director Sarkunan Subramaniam opines that the zero-rated GST as a smart move for new government in the transition period to stimulate the market.

He noted that the abolition of the GST or the return to the Sales and Service Tax must go through Parliament, which will take time, meaning it will leave the market in a longer period of uncertainty.

“With the announcement of zero-rated GST, property buyers who intend to purchase commercial properties can now make their decisions as the transaction price will now [from June 1] be cheaper, as they do not need to pay the 6% GST.