Posted by ks55 > 2019-09-18 09:50 | Report Abuse

Govt eat shit!
Just imagine you bought a house 30 years ago at age of 30, now you are 60 years old and retiring soon.

You may want to sell your house to supplement income from your EPF, to foot your medical bills, to settle any outstanding loan etc etc.

Let say you bought your house at 100k, after 30 years patiently pay off your housing loan, at compounded rate 6% appreciation, your house should worth around 574k (may be inclusive of subsequent renovation). Just imagine after keeping for 30 years, you still have to pay (574k-100k)x 0.05 = 24k as RPGT !

In other words, govt is killing all retirees by robbing them their hard earned and hard saving. Lim Guan Eng suppose to help elderly like his father (of course his father already very rich), but instead he is killing them financially.

Lim Guan Eng also is the person killing housing market. He forbid young people to buy smaller starter home as RPGT after 5 years will deter young couples from upgrading to a more decent home. Why should you pay for smaller starter home, only have to upgrade 6 or 7 years later when you can afford a better home?

Lim Guan Eng not fit to be Finance Minister. He is not helping Malaysian economy by pulling hind legs. He does not know when Japanese Yen is at the low, no way he should borrow Japanese Yen only to pay back when Yen moves up in next 10 years......