A place where I can share my thoughts and life experiences...

Friday, May 26, 2006

Going back for Gawai

Yippie~ going back to Sibu for Gawai. For those who does not understand what Gawai means - well, it is our Sarawakian's native celebration for their new years. I know i know...that is nothing to do with me since i am a chinese, but its a holiday! Going home to take some rest. Geezzz...everytime when i go back, i will be having trauma of sleeping at the living room. Feel so un-warmth eh?!! Well, you guys must be shocked that why would I be sleeping at the living room. Errmm..my brother has throw away my bed, as simple as abc. So, I end up sleeping at the living room. Anyway, I don't mind as long as I am not married. Hope I will have my own bed soon! :-(

Property Gain Tax

Hey, i need a Tax Consultant. I would like to know some of the legal terms. Take for an example. A land lord own that piece of land for few years (more than 10 years), then a contractor call him up and is interested in developing his land for developing a housing estate. Now, the house is completely developed and intended to sell. The land lord was given a number of house as per agreement. So, as a landlord of that piece of land, if he sell off the given houses, would he be taxed for a property gain tax for a 35% of the house's selling value from government? As i know, if that is the first house, then he wont be charged for any tax. But what about the following houses? Will he be charged for any tax? The problem now is, he is the land lord and not a buyer of a house and now intended to sell his house. Would that make any difference?