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GST Will Not Have Much Impact On Property Mart

By Lum Ka Kay

KUALA LUMPUR, April 10 (Bernama) -- The Goods and Services Tax (GST) will not have much impact on the property market, said president of the Malaysian Institute of Architects (PAM) Chan Seong Aun.

He said property dealers should erase this perception because the development of land or buildings used for residential or for general purposes was exempted from GST.

"Give them (property dealers) at least three months to cool down a little to find that the impact of GST is non-existent and only commercial buildings are subjected to six per cent GST," he told Bernama on the sidelines of the one-day housing forum, "re-LOOK at LIVING", at Universiti Putra Malaysia here Friday.....