Do you have to charge GST on your rental income?

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Do you have to charge GST on your rental income?

Posted on June 20, 2014

Crowe Horwath 
Property Tax Vistas
BY FENNIE LIM

ON Monday, April 7, 2014, the Government passed the GST (Goods and Services Tax) Bill.

With it, the Government has finally drawn the line in the sand after two earlier attempts at introducing this new tax. There is therefore no turning back now.

As for the man on the street, what are you doing to prepare yourself for the implementation of GST? This depends on which of the two groups of persons you fall under the ones who pay GST on the goods and services that they buy or the group which is also allowed to charge GST on the goods and services that they sell.

Leasing out a property for rental is a service for GST purposes and may be chargeable to GST.

However, if you are a buyer of property for your own use, then you only need to pay GST when you buy non-residential properties as there is no rental income to declare.

What if you are a property owner with at least one property for rent?

If so, you may need to start thinking about whether you have to charge GST on your rental income and pay it to the Government.

Most individuals who are casual property owners may not be required to charge GST. Why?

This is because you only need to charge GST if you are in business.

If you are not in business, you do not have to. Even if you are in business, you do not have to charge GST if you are receiving rental from residential properties which are exempted from GST.

In addition, you need to have more than RM500,000 in your annual turnover, that is, RM500,000 of rental income from non-residential properties.

Other conditions that need to be met are that you need to be “making taxable supplies in Malaysia”, which is another way of saying that you are receiving rental income from properties in Malaysia.

However, this condition can only be met if your principal business activity of earning more than RM500,000 in annual turnover is from the rental of non-residential properties.

So, are you involved in business and need to be registered for the purpose of GST? This is a perplexing question.

To be technical, the GST Bill says that a business “includes any trade, commerce, profession, vocation… whether or not it is for a pecuniary profit”. The GST Bill also deems certain activities to be a “business”. For all other cases, we have to apply the “business test”.

Do you have to charge GST on your rental income?

Applying the “business test”

So, what is the “business test”? The “business test” became famous in the court case of Lord Fisher when the judge reiterated the six principles of determining a business laid down in the Scottish case of Morrison’s Academy Boarding Association.

Lord Fisher lived in the United Kingdom and had a hobby of shooting wild birds on his 3,000-acre (1,214 hectares) estate.

He would invite his friends and relatives to join the shoot but they were not charged. Instead, they had to make contributions towards the cost of the shoot.

Lord Fisher himself contributed towards the cost from his own pocket.

The question for the court was whether he had to charge VAT (Value-Added Tax) which is similar to GST on the contributions.

The conclusion was that he would have to charge if he is carrying on a business.

The court held in favour of Lord Fisher because “the sharing of the costs of a sporting or other pleasure activity did not by itself turn such an activity into a business”.

So, there lies a grey area when a person is on the borderline of whether he is in business.

Hobbies are generally not treated as a business.

So are those activities that are not substantial or serious enough to constitute a business.

As such, there is difficulty in deciding whether a person is in business for certain cases.

Basically, there are the six tests of a business laid out in the Lord Fisher case. Please refer to the table.

Do you have to charge GST on your rental income?

These include the following considerations:-

1) Is the activity a serious undertaking, work earnestly pursued or a serious occupation not necessarily confined to commercial or profit making undertakings?

2) Is the activity actively pursued with reasonable or recognisable continuity?

3) Does the activity have a certain measure of substance as measured by the quarterly or annual value of taxable supplies made (supplies generally mean sales of goods or services)?

4) Is the activity conducted in a regular manner and on sound and recognised business principles (business like nature)?

5) Is the activity concerned with the making of supplies for a consideration (consideration generally means price)?

6) Is the activity concerned with the making of supplies of a kind commonly made by commercial organisations?

Generally, individuals may not pass this test and therefore do not have to charge GST unless they own and manage properties like a serious business.

Companies on the other hand, may be presumed to be in business.

They therefore, have to charge GST on the rental income, if they meet the conditions.

This evaluation has to be done for each and every potential “taxable person” including every company in a group of companies.

Moving on, if your company has to charge GST, are you or your company ready? We term this as “GST implementation”. This involves a wide variety of matters such as transactions, paperwork, processes, systems, touchpoints and strategy. The larger and more complex the organisation, the more important it will be in tackling this issue.

Many consultants have their own methodology in assisting organisations to implement this tax.

At Crowe Horwath, we have adopted a 12-step process which covers all the steps in reaching a successful implementation.

For example, one has to examine all the sales of an organisation and ensure that the correct rates of GST are being applied.

If the GST rate used is higher than the correct rate, it will involve disputes with the customers.

On the other hand, if the rate is lower than the correct rate, the organisation has to pay the GST out of its own pocket together with the penalties thereon if this is discovered by the Customs authorities.

As a result, there is now a flurry of activity in the market as organisations rush to get themselves ready for the new tax.

Are you ready? If you are not, it may be time to seek the help of professionals since the Government has made it clear that there is no turning back when it comes to GST.

Please note that the information contained in this article is for general use only and should be seen just as a rough guide.

Readers are advised to seek independent professional tax advice for their GST affairs.

>> Fennie Lim heads the Crowe Horwath KL Tax Division and has been in the tax profession for the last 22 years. She has a wide range of experience in tax compliance, tax advisory and indirect taxes, and has advised many large local and multinational clients on complex tax engagements.

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Real Property Gains Tax (RPGT) In Malaysia

source: http://loanstreet.com.my/learning-centre/rpgt-in-malaysia

Real Property Gains Tax (RPGT) is a form of Capital Gains Tax that is imposed on the disposal of property in Malaysia. It was suspended temporarily in 2008-2009, and reintroduced in 2010. In 2014, RPGT was increased for the 5th straight year since 2009. So how is it calculated, and what does it impact?

Based on the Real Property Gain Tax Act 1976, RPGT is a tax on chargeable gains derived from disposal of property. A chargeable gain is the profit when the disposal price is more than purchase price of the property. What most people don’t know is that RPGT is also applicable in the procurement and disposal of shares in companies where 75% of their tangible assets are in properties, a.k.a. Real Property Companies (RPC). RPGT applies to both residents and non-residents.

You will be only be taxed on the positive net capital gains which is disposal price less the purchased price less the miscellaneous charges such as;( stamp duty, legal fees, advertisement charges ,etc). Additionally, a waiver on the taxable amount is granted to individuals (but not companies). The holding period is from the date on the S&P agreement till to the disposal date. For a simple and a quick calculation, the formula is;

Chargeable Gain = Disposal Price - Purchased Price
Net Chargeable Gain
= Chargeable gain - Exemption Waiver (RM10,000 or 10% of Chargeable Gain,whichever is higher)
Tax payable = RPGT rate (based on holding period)* Net Chargeable Gain

RPGT Exemptions

Good news! There are exemptions allowed for RPGT. Among the exemptions are:

1) Exemption on gains from the disposal of one residential property once in a lifetime to individual (Please utilize this once in lifetime opportunity wisely!)
2) Exemption on gains arising from the disposal of real property between family members (e.g. husband and wife, parents and children and grandparents and grandchildren)
3) 10% of profits OR RM10,000 per transaction (whichever is higher) is not taxable

Budget 2014

Accordance with the Budget 2014 announcement, the rates for RPGT has been increased. Government’s reason for the hike is mainly to reduce speculative activities on housing prices and real estate market. Government believes that hiking up RPGT enable the Rakyat to purchase affordable new houses. However in long term, hike in RPGT rates will slow down the sales of the secondary markets (sub-sales) and also might reduce property investments by local and foreign property investors. The following is the RPGT rates effective from 1st January 2014.

2014 RPGT RATES
Disposal	Citizens / PR	Non-Citizens	Companies
<= 3 Years	30%	30%	30%
<= 4 Years	20%	30%	20%
<=5 Years	15%	30%	15%
> 5 Years	-	5%	5%

Conclusion

The hike in RPGT has its own pros and cons. It has less impact on genuine buyers compared to speculators. For a quick calculation of RPGT, please use a RPGT calculator. Process of getting a loan for property is a complex and a tedious one. Do not worry! Do visit our Loanstreet.com.my for FREE guide and consultations for housing and commercial property loan.

- See more at: http://loanstreet.com.my/learning-centre/rpgt-in-malaysia#sthash.kLpkSVlD.dpuf

1MDB, China Eximbank to jointly develop TRX signature tower

source: http://www.propertyguru.com.my/property-news/2014/6/35774/1mdb-china-eximbank-to-jointly-develop-trx-signatu

Jun 2, 2014

1Malaysia Development Bhd (1MDB) and Export-Import Bank of China (China Eximbank) have inked an investment cooperation agreement to jointly develop the signature tower of the Tun Razak Exchange.

Signed in Beijing, the deal will see the two government-owned entities contributing up to US$300 million (RM963 million) to a joint venture firm that will build the landmark in the 28ha international financial centre.

Notably, the firm will also drive investment initiatives, both abroad and at home, offered by sectors such as commercial aquaculture, hospitality, infrastructure and agriculture.

Prime Minister Datuk Seri Najib Razak, who also serves as chairman of 1MDB board of advisers, revealed that the signature tower will be promoted as a key centre for new businesses for the world’s economic powerhouses as well as the focal point for Chinese investors coming to Malaysia.

The prime minister, who visited China to celebrate the 40th anniversary of Malaysia-China diplomatic relations, witnessed the exchange of documents between 1MDB managing director and chief executive officer Mohd Hazem Abd Rahman and China Eximbank vice-president Yuan Xingyong for the investment cooperation agreement.

“TRX’s signature tower, which will be a symbol of China-Malaysia’s enduring ties, carries strong significance as it is in prime location off Jalan Tun Razak and carries name of the late prime minister Tun Abdul Razak Hussein,” said 1MDB and China Eximbank in a joint press statement.

“The tower will be an anchor to the development of Kuala Lumpur’s international financial district, serving as a primary physical marker and icon to the 28ha business and financial hub.”

Notably, TRX is a major step towards achieving the goals of the Economic Transformation Programme to transform Malaysia into a high-income economy by 2020.

It has a development period of 15 to 20 years, with the initial phase of construction set for completion by 2017.

The project’s stage one will see the development of the signature tower, four office towers, up to two five-star hotels, up to five residential towers and a retail mall.

Farah Wahida, Editor of PropertyGuru, wrote this story. To contact her about this or other stories email farahwahida@propertyguru.com.my

Everything You Should Know About CTOS

Many people only have a rough idea of what CCRIS and CTOS is. Most do not know how it works. In this second of a 2-part series, everything that you need to know about CTOS is explained. This includes how to make it work in your favour when making a loan application. CCRIS was explained in The First of this 2-part series

What is CTOS?

CTOS is a lead information system widely used by the majority of the country’s Financial Institutions, Commercial Companies & Businesses, Legal Firms and other institutions. Unlike CCRIS, which is under Bank Negara Malaysia (BNM), CTOS is owned and managed by a Malaysian company, in business for over 20 years, collating information on Individuals and Companies from various sources found in the public domain.

The information is formatted into an electronic database which provides for an easy, quick and efficient checking process for loan applications, trade and business credits and for decision making by credit grantors and lenders.

The sources of CTOS information include amongst others:

• Legal notices in Newspapers
• Searches at the Companies Commission of Malaysia (CCM) or Suruhanjaya Syarikat Malaysia (SSM)
• Government Gazettes & Publications
• Searches at the Malaysia Department of Insolvency (MDI) or Jabatan Insolvensi Malaysia
• National Registration Department (NRD) or Jabatan Pendaftaran Negara (JPN)
• Searches at the Registrar of Societies (ROS)
• Contact information provided by creditors / litigators / trade referees
• Information voluntarily provided by subjects themselves

Only CTOS subscribers can access the CTOS Information Database.

What CTOS is Not?

CTOS is not a blacklist. It does not provide opinions, ratings, rankings or recommendations on an Individual’s or Company’s credit worthiness. All lending policies, loan approvals and decision making are determined by the lenders or credit grantors themselves, not CTOS.

Another misconception about CTOS is that it does not update its records. It is important to note, CTOS is like an electronic library of historical information captured from publicly available sources and archive as such. Updates are carried out by CTOS whenever it captures case settlements from parties involved namely the plaintiff, defendants, their lawyers or new information from related source documents.

What categories of information does a CTOS Report contain?

A CTOS report is split into 5 sections containing different categories of information:

Section A – Identity Verification

• Helps to identify and verify the subject’s by Identity Number, Full Name, Company or Business Registration Number. This section helps to detect and prevent fraud and identity theft.

Section B – Internal List / Group Exposure

• This is for the subscriber’s own information and reference. It relates to their own business experiences with their customers. Information here is only open to the subscriber’s own personnel. No other subscribers have access to this information

Section C – Directorships and Business Interests

• Record a subject’s directorships and shareholdings in Malaysian incorporated companies and businesses.
• Banks use this section to help verify the true nature of a subject’s ostensible income, especially for company shareholders and business owners.

Section D – Legal Actions Against

• Record the legal information. It helps one to have a better insight and understanding on a subject’s background, history and business experience.
• Banks use this section to look out for bankruptcy information, legal actions, and case statuses.

Section E – Trade Referees and Subject Comments

• Trade Referees – Listed here is the name of Trade Referees. They are CTOS subscribers who may want to share their business experiences known as “Trade References” on subjects and their companies or businesses that they have dealt with. The trade references are the subscribers’ own information not CTOS. Therefore, communication of the trade reference is done directly via email between the trade referee and the inquirer.
• Subject’s Comments – This is a facility provided by CTOS to allow parties involved in a case to present their “side of the story”. Comments should be objective and confined only to the case.

How long are the records kept?

Unlike CCRIS where records are kept only for 12 months, CTOS records are kept indefinitely as an historical archive of one’s history and experiences.

Will CTOS update the information in their database?

Yes, the CTOS database is updated with new information collated from the various sources on a daily basis. Information contained in Section C is periodically updated to reflect the latest directorship and shareholdings of the subject at that point in time.

Information in Section D – As a rule, in this section, information is never deleted except in cases of (1) Fraud OR (2) Mistake. The relevant supporting documents must be provided to CTOS for their checks and verification before a deletion can take place.

I have settled a legal action against me / been discharged of Bankruptcy. But banks still reject my loan applications, citing “CTOS issue”. What can I do?

Because of how CTOS operates, if you have had legal actions taken against you, it becomes your responsibility to provide updates to them, especially if the outcomes are in your favour. This can be done by contacting CTOS service centre.

I have been a victim of identity theft, which has resulted in many unjustified lawsuits against me. The cases have not been resolved. What can I do?

If you are able to provide proof of fraud (eg. police reports, letters of support from relevant banks/lawyers/litigators), CTOS will remove the relevant records from their system after verification.

You may also provide subjective comments in defence of yourself to be added to your CTOS file. This ensures that all enquirers to your CTOS file will see your explanations. These will appear in Section E of your file.

I was discharged as a bankrupt / paid off my creditors 6 months ago and have updated CTOS regarding my case? Why do banks still reject my loan applications, citing “CTOS issue”?

Most likely, the issue is not with CTOS not updating your records, but with the bank’s internal credit approval policies.

Most banks have internal policies that are not friendly to past delinquents. The more time that has passed between your last delinquency versus your loan application, the higher the chance of approval. A general rule is to have at least 1-2 years in between.

I do not owe any banks any money. And to my knowledge, I have never been sued. How can it be that I have “CTOS issues”?

Subscribers to CTOS are able to provide their contact details as “Trade Referees” for a subject. This appears in Section E of the CTOS report. As explained above, trade referees may want to share their business experiences known as “trade references”. It is likely the trade referee could have dealings with you and/or your company or business.

Telco and utility companies have been known to put themselves as trade referees for subjects who have long-standing uncollectible debts with them, even for small amounts.

In such instances, it’s advisable for you to contact the CTOS Service Centre to conduct a CTOS Self Check Report. From the report, you will know whether such is the case.

- See more at: http://loanstreet.com.my/learning-centre/everything-about-ctos#sthash.sHONa9Ck.dpuf

Property Attributes in Malaysia – Key Things To Look For

source: http://loanstreet.com.my/learning-centre/property-attributes-in-malaysia-key-things-to-look-for

When purchasing or refinancing a property in Malaysia, there are many different attributes (E.g. Lease, Subdivision, Land Type) the property can have. Each requires different treatment differently during the conveyance process, and can even affect your housing loan / mortgage application. This article debunks and summarizes everything you have ever wanted to know about types of property attributes in Malaysia, and how it will affect your purchase and refinancing decisions.

Freehold vs Leasehold

Leasehold land belongs to the state and is leased out to an “owner” for a number of years. Towards the end of a lease, owners are required to pay a fee to extend the duration of the lease. Freehold land on the other hand belongs to the owner (the purchaser) indefinitely.

Additionally, during a sale and purchase process, consent is required from state authorities (Land Office) before the transfer can proceed. The state can withhold approval for any number of reasons. Due to this additional step, it can take much longer to buy / sell a leasehold property.

For these reasons, freehold properties are usually more expensive than similar spec leasehold properties.

Leasehold	Freehold
Land belongs to the state, leased to owner for a number of years	Land belongs to the owner
At the end of the lease, owners must pay to extend the lease	Ownership is indefinite
Requires state consent (obtained at land office) to transfer ownership	Does not require state consent to transfer ownership (except in certain specially earmarked properties)
Most banks will not finance a property if the lease has less than 30 years to go	No question of existing lease duration for home loans / mortgage

Subdivision of Title

All properties have a title deed which denotes the owner of a property. During the construction and development phase, it is likely that an entire swathe of land will fall under a single “Master Title”.

But typically, multiple houses or apartment units would be built on the land and sold off individually. So ideally, the “Master Title” would be subdivided into multiple smaller titles before being sold to individual purchasers. For landed properties, these are known as “Individual Titles”. For high rise properties, these are known as “Strata Titles”. Once subdivided, to transfer ownership, a Memorandum of Transfer (MoT) would be filed at the Land Office. The purchaser’s name would appear on the title deed itself, making them the new rightful owner of the property.

However, in practice, it is common for developers to sell the properties still on Master Title, and where subdivision may happen only many years later. In such cases, to buy/sell, instead of a MoT at the Land Office, a temporary Deed of Assignment (DoA) would be filed at the High Court. Based on the Master Title, the developer is still the rightful owner. However, the developer has “assigned all their rights” over individual parcels / units within the land over to the purchaser. Do note that once the individual / strata titles are out, the official transfer of ownership process (using the title deed) as described above will still have to take place as per standard practice.

Master Title	Individual / Strata Title
Developer is the rightful owner. Uses DoA lodged at high court to assign rights of a property over to a purchaser	Purchaser is rightful owner. Uses MoT to change the owners name on the property title deed at the Land Office
A chain of Sale & Purchase Agreements (SPA) and DoA leading all the way back to the original sale must be used to prove latest ownership	Name on property title deed is sufficient to prove latest ownership
Most banks will not finance a property if it is still on Master Title 10 years after completion	No issue with financing

Usage of Land

There are multiple types of approved land usage. These will affect the Loan-to-Value (LTV) ratio that banks are able to provide. The table below is a guideline of the expected LTV ratios available mortgage and housing loan options on the market as of 2013.

Land Usage	Type of Loan Scheme	Max LTV Ratio
Residential	Skim Rumah Pertamaku	100%
	Complete / Sub-sale / Second-hand /td>	Up to 90%
	Incomplete / Under construction / Project	Up to 90%
	Land + Construction	Up to 90%
	Land Only	Up to 60%
Commercial / Mixed	SoHo / SoVo / SoFo / Serviced Apartments	Up to 80% (Sometimes, residential mortgage loans used instead)
	Shop Lots / Offices	Up to 90%
	Land Only	Up to 60%
Agricultural	Palm oil	Up to 90%
	Others/td>	Up to 60%
Industrial	Factory / Light Industry / Heavy Industry	Varies according to usage

Malay Reserve Land

There are certain properties which have “Malay Reserve Land” status (Note: This is not the same as “Bumi Lot” properties). These properties cannot be transferred to a Non-Malay under any circumstances. And just as in Leasehold properties, state consent has to be given for transfer.

A majority of banks will not give a mortgage loan for Malay Reserve Land properties.

Conclusion

If you are intending to purchase or refinance a property, it is important to know the kinds of attributes your property has. Once you have ascertained the property you want to purchase, use this as a guide to understand the kind of housing loan or commercial property loan you are able to obtain.

- See more at: http://loanstreet.com.my/learning-centre/property-attributes-in-malaysia-key-things-to-look-for#sthash.kqbUYlr9.dpuf

2014年05月23日 - 钱途屋语：了解CCRIS助申贷 - 产业周刊 - 南洋网

source: 2014年05月23日 - 钱途屋语：了解CCRIS助申贷 - 产业周刊 - 南洋网

钱途屋语：了解CCRIS助申贷

• 产业周刊
 

 2014-05-23 12:48

相信在马来西亚，大多数人对CCRIS只有一知半解的认知，不清楚它是如何运作的。

当你掌握CCRIS的运作方式后，可以让你更顺利地申请贷款，或获取更好的借贷惠利。

CCRIS其实是中央信贷参考资讯系统（Central Credit Reference Information System）英文名称的缩写。

这个由国家银行创设的系统收集、处理、储存及运作由所提供的信贷资料及偿债记录，形成一个标准的个人信用报告。

借贷者或金融机构（银行）都可以查照和参考这些个人信用报告。

每家银行系统都很紧密地与CCRIS联接，并在批准信贷过程里，自动析取个人或公司的信贷报告。

每家参与CCRIS的金融机构如商业银行、回教银行、投资银行、金融发展机构、保险公司、发债或贷款机构等，都需要提供顾客的信贷资料给CCRIS。

CCRIS只储存12个月的信贷资料和偿贷记录。

12个月之前的旧档案会被清除。

改善CCRIS报告

当你了解CCRIS报告的作用和潜在的问题时，应该进一步了解如何改善CCRIS报告。

因为一份纪录良好的CCRIS报告，更有利助你申请到所需的贷款。

以下简略和大家剖析：

●如果你的信贷记录显示举债高，可在申请新贷款前，先偿还一部分债务。

●CCRIS信贷资料报告会在每个月的15号更新，但数据是显示前一个月的。

例如：2014年一月的信贷资料会在2月的15日更新。因此若你在1月1日至1月31日之后偿还了部分债款，最好是在2月16日或之后才申请新贷款。

●若贷款或账单的还款截止日早过你出薪的日子，可尝试与银行协商以延迟结算日。

●如果你常惯性迟付款，可在你最后一次迟付款12个月后才申请贷款。

●限制贷款额和信贷申请，最好是比较各银行的条件，再选择最佳贷款。事实上，申请太多信贷申请会影响你争取更好的贷款惠利或条件。

●一般上，如果一个人完全没有借贷，例如没有任何贷款、信用卡或银行透支，银行一般不会借你可承担的贷款顶限。

因此最好是有至少一个活跃的贷款，并且准时及稳定还款。

如何解读CCRIS报告

CCRIS报告主要涵盖了3组资料，大家可参照附图的报告范例。

A.未偿还贷款
个人拖欠的各类贷款，如房屋贷款、汽车贷款、信用卡、个人贷款、银行透支额等等，当中也包括为偿贷款额及限额、有无拖欠还款及法律行动状态。

B.关注账户
这一栏的资料，是受到特别关注或留意的账户，反映个人不良贷款的账户。

这部分（左下方）若出现“AKPK”字眼，显示借贷者加入AKPK的债务管理计划，并非被列入黑名单。

C.贷款申请
去一年内申请贷款的记录，多少项贷款申请被批准或拒绝。

D.未偿还贷款额
从这里可看到个人尚未还清的总贷款额。

E.贷款限额
这一栏的数据是总限额，或原本的贷款额。

F.供期纪录
这是借贷者过去12个月内的还款记录。数字显示相关月份里未还款或拖欠的次数。

（如图，“1”表示在2012年7月里，曾有一次逾期未还款记录。）

数情况给银行坏印象

当CCRIS报告出现以下情况，会让银行留下不好的印象：
●已被采取法律行动或需要特别留意的账户；
●拖欠或逾期还款；
●应用高信用额，例如信用卡或银行透支使用高，反映出个人的财务管理出现问题；
●借贷率太高：这是根据个人收入对比仍拖欠贷款额来计算的比率；
●同时申请多项贷款或信用卡。当你申请的贷款或信用卡越多，反映你很需要银行放贷。

总结
好报告获较低利率

拥有良好记录的CCRIS报告，会提升获得最佳贷款惠利的机会，如较低的贷款利率。

要查询或精确掌握贷款配套的利弊和条件，可使用Loanstreet.com.my的贷款配套比较工具，从而选择最佳和符合你需求的贷款配套。

loanstreet 免费贷款资讯及谘询网站 

2014年05月09日 - 钱途屋语：你可借多少房贷？ - 产业周刊 - 南洋网

source: 2014年05月09日 - 钱途屋语：你可借多少房贷？ - 产业周刊 - 南洋网

产业周刊

  

 2014-05-09 12:50

你的贷款能力决定你所能购买的房子类型，最高房贷额成了购屋者最想知道的问题。

当然，坊间对于最高房贷额也有不同的说法，以致人们对于房贷存有许多迷思与误解，购屋的决定也因此受影响。

房屋买卖对许多人来说，是人生中最重要的决定之一。

个人贷款能力，也反映出可购置什么类型的房屋，最高房贷额成了购屋者做决定时的最大考量。

人们因此对于自己的最高房贷额都非常关心，也想多了解影响银行最高房贷额的因素。

银行考量4因素

银行一般会考量四个主要因素，计算出借贷者的偿债能力，并订出他们可获得的最高房贷额。

这些因素包括：一、借贷者的偿还率（Debt Servicing Ratio,简称DSR）二、借贷者的风险模式（Risk Profile）三、房地产的评估价值或房屋估值四、符合借贷者的最高房贷与房价比率或贷款巴仙率（Loan-to-value ratio/ Margin of Finance）由于对房贷计算不了解，因此人们对于最高贷款额都存有一些迷思。

当中，最常见的迷思或误解包括，银行的借贷额最高仅占总收入的三分之一、每一家银行的最高贷款额都大同小异，以及贷款者的偿还率最多只能为净收入的70%。

这些迷思虽为人们提供一个简单的计算与衡量概念，却无法反映出真实情况。

在房贷中，偿还率（DSR）也是决定个人最高贷款额的因素，所谓的偿还率是以总债务付款对收入的比率，或显示长贷额占收入的比率（单位-巴仙率）。

贷款偿还率反映着个人的还贷能力，偿还率越低显示偿债能力或处理债务的能力越好。

银行各有计算标准

由于每家银行都会采取各家的收入与债务计算标准，因此到最后所计算出来的偿还率会有蛮大的差别。

例如渣打银行（Standard Chartered Bank）可能以总收入来计算，而兴业银行与马银行则是以净收入作为计算标准。

此外，联昌银行（CIMB）与汇丰银行（HSBC）或许会把贷款者的100%的租金收入计算在内，成为衡量偿还率的标准之一。

大众银行与华侨银行或许只承认80%的租金收入而已，做法与其他银行大有不同。

差距达20%或以上

对于想在本地购置房地产的外国人，兴业银行只承认外国人总收入的45%，而丰隆银行却承认贷款者100%的总收入。

当贷款者真的亲自到银行走一趟，会发现每一间银行计算得出的偿还率都不一样，差距甚至可达20%或以上。

这显示每家银行都有各自最高偿还率的门槛指标，银行一般多以个人的收入水平，作为主要考量因素，而其它因素如个人的净资产，学历及年龄也会影响偿还率指标。

个人房贷偿还率计算：偿还率=总债务付款/收入

对贷款额的迷思与实况

迷思1：银行的借贷额最高仅占总收入的三分之一
事实：这只是一个普遍的借贷方针。事实上，银行会根据内部的详细规定来决定可批准的贷款额。

迷思2：每一家银行的最高贷款额都大同小异
事实：每一家银行的信贷政策都有很大的差别。到最后不同银行所批准的最高贷款额可相差高达三倍。

迷思3：贷款者的偿还率最多只能为净收入的70%
事实：这也是另一个普遍的指南，但并代表银行以此对待所有贷款者，每家银行对可接受的偿还率指标要求有所不同。

总结
善用计算器查询最高房贷

除非你对于各银行的借贷制表市场有关注并熟悉，否则，要计算出自己可以申请的最高房屋贷额，不是一件容易的事。

尤其对于商人、外国人、新加坡人及在国外工作的大马人来说，要自行计算出最高房贷额，更是困难，因为考量标准不再只是根据薪水计算。

不过，网上依然有许多工具可以协助，你可以浏览http://www.loanstreet.com.my网站，免费使用可负担的房贷计算器，快速与方便地查询个人可负担的最高房贷额。

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2014年03月14日 - 购屋攻防战 - 封面故事 - 产业周刊 - 南洋网

source:  2014年03月14日 - 购屋攻防战 - 封面故事 - 产业周刊 - 南洋网

购屋攻防战

• 封面故事
 
• 产业周刊
 

 2014-03-14 12:30

• 

1 of 6

《南洋商报》去年底在半岛进行的“2014年房市展望”调查，受访的3150人中，超过80%人都渴望有自己的房子，但约36%人却因为经济能力问题，至今还是“无窝族”。

面对薪金和屋价上涨幅度失衡的年代，到底该不该买房子自居？若要买，又从何着手？国人如何看待买屋这课题？过程中又面对哪些考验？

从“2014年房市展望”调查结果可一窥真相，同时《产业周刊》特别针对这些问题，咨询专家的宝贵意见，为大家指点新的购屋指引。

专家教路 对抗高房价

屋价直飙，有人说房产已形成泡沬了。

同时，加薪永远追不上房产增值的幅度，因此有人说买房子要趁早。

房地产是大多人眼中的创富工具，根据本报的调查，约25%人过去12个月内购买房产，但36%人因为经济能力问题，至今还是“无壳族”，另约20%人从来没有购房的意愿。

一起来从本报进行的调查结果，了解国人对购房这课题的心态、面对的问题，同时听听专家的建议。

我国一般打工族买不起房子，已经不是新鲜的课题。

《南洋商报》进行的“2014年房市展望”调查显示，共有35.56%或1120名受访者因负担不起房价，至今仍是“无屋一族”。

同时，这3150人当中，高达75.87%或2390名受访者过去12个月没有购屋，最大的阻力是源自于财务问题，达37.63%。

尽管政府正致力推行经济转型执行方案（ETP），放眼创造330万个中高收入就业机会，以便能在2020年成为高收入国。

人民应设法“自救”

但首相署的利商工作队委员拿督蔡兆源认为，面对高房价的年代，人民总不能等大环境改变，而应该设法“自救”。

对于一般打工族因财务问题而无法购屋，蔡兆源说表示，人民收入低的问题源自整个国家经济结构。

“这不是3、5年，甚至是10年，可以解决的问题。”

他认为，若人民想要购屋，就必须“自救”，通过自我增值，提升生产力，以符合更高的工作需求，争取高薪，让自己脱离这种困境。

他指出，投资在自己身上是最理想的“自救”方案，并建议打工族利用空余时间报读课程与参加培训课程，以提升自己的知识与技术能力。

“提升工作能力后，便能为雇主创造更多价值，进而获得擢升与加薪的机会，从长期来看，这有利于提升本身的经济基础。”

或许，有些打工族为了多挣一点钱，而选择兼职，但蔡兆源并不鼓励，因为这最终会带来负面的连锁影响，例如影响正职与家庭生活等等。

他续说，即使目前打工族已经拥有大学文凭，但每年必须面对那么多大学生加入社会，难免会加剧工作竞争力，因此，强化自己的能力是不二选择。

打工族入不敷出司空见惯

在过去一年没有买房的人当中，只有约15%表示已买了供投资用途的第二套房，另有14%人表示对国家经济没信心，另约13%认为房价会下跌。

首相署的利商工作队委员拿督蔡兆源认为，除了个人财务能力欠佳之外，也有可能是打房措施下的“受害者”。

“为了打击房地产投机客，国家银行缩紧了贷款政策，只有净收入符合条件者，才能申请房贷。

他说，有些潜在购屋者的净收入可能不符合银行的贷款资格，所以申请不到房贷，导致买不起房屋。

我国公共交通设施欠佳，大多数打工族甫踏入社会工作，便必须购车代步，微薄的薪水除了支付车贷、汽油费与过路费，还要负担房租、保费与生活费等等，入不敷出可谓司空见惯。

对此，蔡兆源希望政府正积极在巴生谷打造的捷运计划（MRT），能够纾缓城中交通阻塞问题之余，也能帮助打工族减轻购买交通工具的负担。

房产可创富 依财力而为

尽管多达59.05%或1860名受访者表示，未来12个月不会置业，但仍有约三分之一受访者规划在今年买房，而且他们的理由多是“产业具有增值潜能”（达61.22%）。

这当中有者已经有一屋自居，但他们希望提升现有的居住环境，所以计划购买更优质的房屋；有者则希望多买一间房屋收租，制造一些被动收入。

不管任何理由，联昌国际投行研究经济研究部总监李兴裕认为，国人最重要是深入考量自己的财务能力，量力而为。

“我始终觉得产业是很好的长线投资工具，只是奉劝购屋者在决定购屋前，必须优先考量自身的财务能力。”

蔡兆源也赞同：“投资房地产的确是个不错的投资选择，因为产业拥有良好增值潜能，但是我们必须谨慎理财，以免加剧自己的负担。

“所谓理财，就是要理性理财，必须懂得开源节流与取舍，把真正需要的列为优先考量。”他补充，假如潜在购屋者现在的财务能力欠佳，不妨先储钱，待财务状况转佳时，才再添购房屋。

35%转售费时逾9个月 投资房产银根要足

房地产的确是不错的创富工具，但要脱售一项房产并不如想像中的简单。

本报的调查显示，过去一年有脱售房产的受访者中，34.62%竟耗时超过9个月才等到适合的买家。

另外，28.21%业主等了6个月，花9个月才售出单位的有19.23%。

产业是非流动性资产，因此，比股票、单位信托基金、黄金实体、贵金属、商品期货等投资工具的流动性低，如果想要兑现，也需要很长时间。

而且买卖产业，也需经过一些程序，过程比较繁复，但这都无损产业对投资者的吸引力。

蔡兆源认为，不管想购几间房产来投资，购屋者都必须确保自己拥有持有力。

“毕竟现在很多人因打房措施而止步，导致二手产业市场有价无市，倘若缺乏持有力，很容易会陷入财务窘境。”

国家经济虽渐入佳境 60%人今年不敢买房

本报的调查显示，高达59.05%或1860名受访者无意在今年购屋。

他们无意购屋的三大主要因素是财务问题（39.58%）、从无意愿购屋（18.33%）及对经济缺乏信心（16.25%）。

同时，受访者中，有32.38%或1020人表示今年会置业，其余的8.57%或270名受访者则无意见。

但有意在今年成为屋主的受访者则抱持不同看法，61.22%受访者因看好产业价格的增值潜能，而计划在今年出手，其次是因对房屋的需求殷切（21.43%）以及经济增长（17.35%），而打算加入屋主行列。基于两派受访者对国家经济前景的看法不一，那到底今年国家经济表现如何呢？

经济走势“稳定”

李兴裕以“稳定”来形容今年的经济走势，并预计涨幅可达5%。

他披露，支撑国家经济增长的主要推动力来自私人消费、私人投资、石油与天然气领域、基建领域及出口复苏等等。

同时，他不排除当国家经济渐入佳境，国家银行可能把隔夜政策利率（OPR）上调25个基点，而利率调整也是购屋者需要考量的因素之一。

他预测，在未来2、3年内，国家经济增长将维持在5至5.5%水平。

打工族难挡通胀压力

根据调查，13.9%或410名受访者在过去1年没有购屋，是因为他们对国家经济欠缺信心。

截至去年第三季，我国经济增长5%，略逊于前年同期的5.3%。

对于部分受访者对国家经济缺乏信心，李兴裕认为，那可能是因为他们受到通货膨胀的压力。

他说，购屋必须衡量很多因素，首要考量是个人的财务能力与工作稳定度。

“我相信他们对国家经济缺乏信心，是因为担心经济疲弱会影响他们的工作，最终导致饭碗不保。”

鉴于本报进行的这项问卷调查，主要是来自打工族的回应，因此，李兴裕认为，通货膨胀应该是他们的“致命伤”。因为去年政府逐渐削减补贴，以降低国家财赤，导致百物价格腾飞。

值得一提的是，自从政府减少燃油补贴后，导致汽油价格走高，进而把去年11月份的通胀率推高至2.9%。

因此，李兴裕预测，今年的通胀率将企于3%以上，并可能会进一步上探到3.5至3.6%。

他表示，通货膨胀是影响消费者购屋的其中一个风险，加上政府将在明年推行消费税（GST），预计会进一步影响购屋者的购买能力。

24%去年为投资置业 小公寓最受欢迎

尽管调查显示过去1年，只有23.81%或750名受访者购买产业，但是他们购买产业的目的是以投资增值为主。

根据调查，购买一个单位的受访者高达90.57%，购买2个单位的受访者则有5.66%，剩余的3.77%受访者是购买2个单位以上。

住宅产业（包括小型家庭办公室，简称SOHO）是最获受访者欢迎的产业类型，占73.68%，其次是休闲产业（如可出租的服务式公寓，占21.05%）及商用产业（如零售店，占5.26%）。

43.55%受访者购买产业的首要目的是投资用途，因为他们看好产业的增值潜能。

另外，35.48%受访者购买产业是供自住或自用，20.97%受访者则买来收租。

冀增值抗通胀 32%今年将买房

今年，32.38%受访者表示会购买产业，其中95.90%受访者计划购买1个单位，3.28%受访者打算购买2个单位，只有少数的0.82%受访者规划购买超过2个单位。

促使他们决定在今年购买产业的关键因素，同样是以增值潜能（达61.22%）为主，其次是需求强劲（21.43%）及经济增长（17.35%）。

对于17.33%受访者视产业为最佳投资工具，分析员表示认同，因为去年产业股走势非常凌厉，产业指数表现远远超越富时隆综指，分别上扬23%及9%。

大马评估机构（RAM）首席经济学家姚金龙早前出席全国房地产大会时说，大马投资者的投资选项不多，是促使他们热衷于投资房地产的关键因素。

“相较于资金市场发展比较完善的国家，大马的投资选择其实不多。”

为了保值和对抗通胀，投资者倾向于把资金投入房产市场；事实上，有些房产市场的回酬也不错。

他指出，这种情况推高了产业需求，让产业价格高居不下，甚至节节上升。

少数人看淡行情 延迟进场捡便宜

根据调查，不买产业的受访者当中，只有少数（11.25%）表示，不买产业的主要原因是预测产业价格未来可能下滑。

随着建筑材料、地价、劳工成本及电费上涨，加上国内经济表现仍稳健，产业价格下跌的可能性不大。

房地产网站PropertyGuru.com大马区经理许毅早前受访时表示，政府不断祭出打房政策，应该是预见未来的房价走势会继续攀升。

“如果政府认为房价不起反跌，那他们不会推行那么多打房政策。”

许毅预测，未来两三年，产业领域将会持续增长。

他说，政府的打房计划，主要是打击投机活动，希望房价能稳定、逐步增长，而不会形成泡沫，即房价疯狂飙涨，然后急挫。

“如果形成泡沫，然后泡沫破裂，那会对经济造成很大影响，各方都需要付出很大的代价。”

多数人不怕打房措施

对于政府在去年陆续祭出打房措施，包括调高产业盈利税（RPGT）及外国人最低购屋价等，62.99%受访者表示，他们购买产业的决定没有因此动摇。

33.21%受访者指出，那是因为产业需求一直存在；30.69%受访者则看好产业价格会在长期走高。

同时，有者（18.77%）的看法与分析界相同，他们皆认为政府的打房措施是属于短期调整，意即短期内冲击买家情绪而已。

JF Apex证券分析员表示，近期的房屋降温措施将有助于降低一些投机活动，让产业价格保持平稳。

“这些措施可能会暂时影响买家情绪，因此，我们估计发展商将在今年首半年推出一些新产业项目，而买家那股被压抑的需求将会推高下半年的购兴。”

消费税或推升屋价

业者和专家纷纷谨惕看待市场，房价未来可能因为消费税的实行而上涨。

虽然人民购买住宅与农业土地可豁免消费税（GST），但基于建筑材料供应商将向发展商征收消费税，因此，后者可能因而上调屋价，以便转嫁成本。

蔡兆源说，产业发展商不能向购屋者征收消费税，但问题是产业发展商的原料供应商，如建材供应商等，会向他们征收消费税。

“若发展商无法吸纳过高成本，他们可能会把高涨成本转嫁给购屋者。”

不过，发展成本增加与否，最终还是取决于发展商的建筑成本架构。

但蔡兆源相信，发展商绝对有调高屋价的可能性，因为一旦他们无法吸纳成本，把高涨的成本转嫁给消费者是最普遍的经商手法。

小型住宅未来更吃香

有意在今年购买产业的受访者当中，高达81.73%想购买住宅产业，其次是休闲产业（9.62%）及商用产业（8.65%）。

其中，超过一半（50.45%）受访者的预算是介于20万令吉至40万令吉，紧接在后的是40万令吉至60万令吉（21.62%）。

有意购买60万令吉以上的产业的受访者不多，仅占12.61%；但也有15.32%受访者是在物色20万令吉以下的产业。

纵观目前房价，特别是在吉隆坡市中心，介于20万至40万令吉的产业供应不多。

随着建筑成本逐渐上涨，购屋者可选择的单位规模，预计会变得越来越小。因此，预计会有更多小型住宅单位推出市场。

另一方面，“2014年房市展望”针对发展商的调查显示，发展商认为小型单位，像是小型家庭办公室（SOHO）会更受欢迎。

72.46%受访发展商看好小型单位的增长动力。其中，18.84%受访发展商认为，小型单位具备强劲的增长动力，逾半（53.62%）相信小型单位会更受欢迎。

PR1MA定价符要求

“一个马来西亚房屋计划”（PR1MA）推出的可负担房子售价介于10万至40万令吉，正好符合多数受访者的要求。

稍早前的报道指出，一个马来西亚人民房屋机构会在2018年，推出50万间可负担房屋。

根据“2013年财政预算案”，一马房屋机构应该在去年耗资5亿令吉，在吉隆坡、莎阿南、新山、芙蓉及关丹的主要地点，打造8万间房屋，每间售价介于10万至40万令吉。

去年8月杪，该机构宣布已在巴生谷、柔佛、槟城、沙巴和砂拉越，批准15个可负担房屋项目，提供约2万间房屋，发展总值达50亿令吉。

该机构总执行长阿都慕达立说，除了该15个项目，该机构计划在未来几个月，在吉隆坡文良港和Jubilee路推介新项目。

同时，该机构还会在新山推介2个项目，以及分别在槟城、沙巴和砂拉越，各推介1个项目。

他有信心可在年杪前，达至8万间房屋的目标。

增加供应稳定房价

大马评估机构（RAM）首席经济学家姚金龙认为，除了推出打房政策，从需求方面着手控制房价外，增加供应也有助于稳定房价。

“政府早前公布会增加可负担房屋，陆续应该会有更多‘一个马来西亚房屋计划’，除了推行打房政策，相信政府也希望从供应方面控制房价。”

不过，近期有媒体质疑PR1MA计划执行缓慢，政府释出的土地不足，未能达标，所谓的可负担房子也供不应求。

根据报道，8万间房屋所需的土地达2000英亩，但政府仅拨出约100英亩土地。

阿都慕达立近日出席记者会表示，该机构在去年批准了4万5000个单位，并希望在今年首季杪，额外批准3万5000个单位。

这意味着，一马房屋机构只达标56.25%。

截至目前，已注册申请PR1MA的民众达34万人。粗略估算，就算有8万间房屋，都难免陷入僧多粥少的局面。

更甚的是，目前仅批准了4万5000个单位，对30万名注册者而言，可谓杯水车薪。

报道： 魏素雯、杨映敏