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.
On whether the GST would impact the property purchasing power of Gen Y, Chan recommended a salary increment by employers to maintain or raise the standards of living of the generation.
He said employers in other countries which had imposed GST tend to increase the salaries of their employees.....