Johor: 15% rebate on quit rent for real estate owners

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18 October, JOHOR – All property owners in the state will enjoy a 15% quit rent rebate from October 1 this year.

Menteri Besar Datuk Ir Hasni Mohammad said a 15% rebate on quit rent would be given this year, 10% next year and 5% in 2022.

He said the giving of the rebates had been announced in the winding-up speech of the 2020 Ihsan Johor Economic Stimulus Package Negotiation at the State Assembly meeting on September 13.

”The quit rent repayment period has been extended until December 14, 2020 while current quit rent late payment penalty will be imposed starting Dec 15.

READ: A beginner’s guide on Quit Rent, Parcel Rent & Assessment Rates in Malaysia

”For property owners who did not settle their current quit rent for 2020 starting December 15, the quit rent will be considered as arrears and a late payment penalty will be charged starting from that date,” he said in a statement.

He also explained that the 15% rebate would not be given to quit rent payers who settled the quit rent after December 14 but those who have paid the tax in 2020, the excess payment would be credited to the following year.

”This means that for 2021, the rebate received will be 25%,” he said, adding that to enjoy rebates in 2021 and 2022, all property owners must pay their quit rent for the year in question before or at the latest on May 31,” he added.

– BERNAMA


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