by Editor Editor

Real Property Gains Tax After Death

‘In this world nothing can be said to be certain, except death and taxes.’ When a person passed on, the administrator/executor has to settle deceased person liabilities and taxes including Real Property Gains Tax (RPGT) before distributing the deceased person assets to the beneficiaries.

RPGT is a tax levied by the Inland Revenue Board (IRB) on the gains made from the difference between the disposal price and acquisition price of a property when a property owner disposes his/her portion of shares in the property.

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by Editor Editor

Making a Nomination in the Private Retirement Schemes (PRS)

Government introduced the Private Retirement Schemes (PRS) which is a voluntary contribution pension scheme to encourage people to save more for their retirement other than EPF contributions.

When you invest in the Private Retirement Schemes, you will automatically be enrolled as a member of Private Pension Administrator (PPA) Malaysia. Therefore, you are allowed to make a nomination in the Private Retirement Schemes for your loved ones to avoid going through the hassle and a lengthy estate administration process if you are no longer around.

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