MAPEX 2013 Penang


I was honoured to be invited to give a couple of presentations during MAPEX 2013 which was held at G Hotel in Penang on the 5th to 7th April. Who wouldn’t be honoured by the invite, being lined up with other great speakers of the property industry such as Ho Chin Soon, Michael Tan, Ahyat Ishak and Dr. Daniele Gambero, to name a few.

The topics I presented during the event were:

  1. Friday, 5th April: Budget 2013: How Does It Affect You As A Property Investor?
  2. Saturday, 6th April: Minimising Tax Exposure On Your Property Investments

My bro Ahyat in action!

On Friday, I shared how the changes announced in Budget 2013 could potentially save a taxpayer up to RM1,560 in taxes in 2012 and RM2,555 in 2013 for the individual taxpayer, if he/she can take advantage of all the changes. I also touched on the changes in the real property gains tax rates and how it may increase again in the near future. Tax audit is always a major concern of all taxpayers and I shared what I thought the Inland Revenue Board’s (IRB) strategy would be like moving forward.


Me in action!

On Saturday, I shared that as a property investor, but first and foremost an individual taxpayer, the most important point any taxpayer should know is the responsibility of each and every one of us under the self-assessment system and the repercussions for not knowing our responsibilities well. I also shared the power of maximising our personal reliefs (legally) and the amount of taxes that one can save. Also shared were some tips of how to maximise claims for expenses against rental income and gains on disposals of investments.

One topic which I received numerous inquiries about from the audience was the Limited Liability Partnership (LLP) and when was the said business vehicle implemented in Malaysia, which many were not aware of (obviously, they haven’t been following my updates in MalaysianTaxation101! :p)

I was glad for the opportunity to be invited to MAPEX 2013 and was able to share my knowledge with the general public. As a practising licensed tax agent,  I have seen on numerous occasions where taxpayers was penalised due to their ignorance of the law and this is really heartbreaking.

I must really thank iProperty and REHDA Penang for giving me this opportunity and platform to share my knowledge with the public. For those who were there at my sessions, I hope you have gained some useful knowledge from my presentations. To my friends (one as far as Singapore!) and supporters who were there at my sessions (even though you may have heard me speak time and time again), I really thank you for your support!

For those who care to read till the end of this post :p, I have a small gift for you: I am giving away a summarised PDF file (still 40 slides long) of the presentation which I made on Saturday! All I ask in return is for you to do this:

  1. Please go to my Facebook Page and click ‘Like';
  2. Then send me a message through that Facebook Page that you’ve ‘liked’ my page and give me your email address so that I may email you the PDF file of the presentation.
Next stop; Kuala Lumpur this coming weekend for a presentation for the members of SwhengteeRexclub!

About Richard

Richard Oon Hock Chye has more than 25 years of experience in taxation and business advice, with particular expertise in Malaysian property law. He began his taxation career with Deloitte Touche Tohmatsu, a ‛Big Four’ accounting firm, before starting his own practice, ConsulNet Tax Services Sdn. Bhd., in 1996. He is currently the National Tax Director of TY Teoh International, one of the leading consulting service providers in Malaysia. It is a member of the MSI Global Alliance, a global network of more than 250 independent legal and accounting firms, in over 100 countries. Richard sits on the board of two companies listed on the Main Board of Bursa Malaysia, as an independent non-executive director. He is also a regular contributor to several magazines and publications, and has shared his tax expertise on numerous occasions with organisations and property developers. As well as being a member of the Malaysian Institute of Accountants (MIA), Richard is a fellow member of both the Association of Chartered Certified Accountants (ACCA) and the Chartered Tax Institute of Malaysia (CTIM). He is a Certified Financial Planner (CFP) and holds a tax agent licence issued by the Ministry of Finance. Richard is also the author of the book, ‘Every Property Investor’s Guide To How To Pay Less Tax Legally’.

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