Visitors looking at a scale model of The Light Waterfront Penang project by IJM Land at the fair.

HOUSE sellers can save a lot of money by paying minimal tax when selling their properties.

Al Jeffri Dean Tax Advisory senior partner Neoh Chin Wah said the real property gain tax at 30% can be hefty when a seller disposes off a property within three years of buying.

“Many are not aware of the buying date and selling date when they want to sell off a property.

“It could just be at the end of three years and they end up paying the 30% tax, when they could have just waited another week or two and pay only 20% tax by selling off the property in the fourth year,” said Neoh in his talk ‘Negotiating the Tax Trap in Property Transaction’ at the StarProperty.my Fair 2015 yesterday.

He said although one could not change the tax rate but they could decide on the timing and mode of disposal.

“Difference of a single day could result in a 10% difference in tax rate.”

Another presenter, Zeon Properties Group chief executive officer Leon Lee said that Penang is the best place to invest in now as major infrastructure transformation on the island such as the proposed light rail transit, undersea tunnel, skycab and major road projects would have tremendous appreciation value on properties.

He said Penang would be a better place than Hong Kong and Singapore, which have reached their development potential and would yield a lower appreciation value.

In his talk ‘Market Outlook 2015: Investing in Uncertain Times’, Lee said landed properties in Batu Maung, which cost RM800,000 in 2008, are going for RM1.45mil today after the completion of the second Penang bridge.

Lee stressing a point during his talk on ‘Market Outlook 2015: Investing in Uncertain Times’.

“Even mainland Batu Kawan properties, priced at RM180,000 in 2008, have appreciated to RM430,000 today because of the bridge,” Lee said.

He added that meticulous planning with a quality and robust delivery system, something which Penang is presently focusing on, is the key attraction for investment.

“Thus, any property investment in the state will definitely appreciate and people should grab the opportunity by buying properties now,” he said.

Rockwills senior estate planner Jocelline Chee said the Government can freeze one’s assets between three and 10 years, if there is no written will.

She said that if there are no disputes, the beneficiary can obtain the assets in three years.

“But should there be any legal tussle over the assets, the length of time required to freeze the assets, can take up to 10 years,” she added.

Noting that there are still many Malaysians who are without a will, Chee said will-writing can cost anything between RM480 and RM18,000, depending on how comprehensive the will is.

One can consider investing in overseas properties instead of relying on mutual funds or fixed deposits.

“In Malaysia, inflation is high and rental yield is low. Affordability is also at all-time low with the falling ringgit and oversupply of local properties.

“Investments in overseas properties such as those in Australia and UK can be a better choice.

“Make sure you get positive rental yield to at least cover repayment. Do not settle for anything lower than 6%,” MIG Network Sdn Bhd chief executive officer Datuk Brian Wee said.

He said this in his talk ‘Is Overseas Property a Better Choice to Invest In With Falling Ringgit and Oversupply of Local Property?’

The company’s other founder Datuk Stanley Wong will talk on overseas investment in Mandarin at the fair today at 1pm.

Feng shui master David Koh from the Malaysian Institute of Geomancy Sciences in his talk ‘External Environology (Feng Shui)’, said the thinking brain is influenced by an unseen vibrating energy in the space where one worked and lived, which in turn influenced the thinking brain to think and decide.

“The clue is to work on how to get the right energy to suit oneself through ‘environology’ (feng shui),” he added.

Koh will share on how to make use of feng shui to enhance harmony, health, wealth, advancement and success in life in the part two of the ‘Life Destiny and External Environology’ talk at 11.30am today.