One more question pls, the developer advised me that since I am Not GST regd, it will be advisable for me to set up a holding SB, to purchase the Non-residential property under the holding SB name. The reason being, we can then pocket the rental associated GST collection, upto the total amount that we had paid when we purchsed it from the developer. After we have collected the sum total of the GST that we'd paid, then the rest will be collect on LHDN behalf.
Is that true?
If that is true, will it alter my previously Non-GST regd company & personal tax status?
what do you mean by setting up a holding SB ?
set up another company and register for GST ?
when you resell or collect rental for this property, you can claim the GST input tax to recover the 6% u paid during the purchase?
if above ir your question, then i am afraid i cant answer you till you do all your calculation
1. how much cost incur for setting up a company
2. how much cost to maintain that company - beside the normal cost of accounting and auditing, now u need to spend extra on GST software and cost of submission & claim dealing with LHDN...
3. how many years you want to maintain that company?
and another key question is....
if im am buyer or tenant who look for the property you put up for sale or rent?
why shd i pay you 6% extra if i can find another seller or owner that is not GST register!!!