Big news on the financial front – our Malaysian government has recently affirmed the exempted imposition of capital gains tax (CGT) and taxes on foreign-sourced income (FSI) on unit trusts!
Why the exemption?
More than 90% of unit trust holders are individuals – yes, you’re included! – and CGT could have impacted you directly. The decision not to proceed with these taxes is “to ensure that the rakyat can benefit wholly from the gains of your hard-earned money and invest for their future,” shared Finance Minister II Datuk Seri Amir Hamzah Azizan.
How long will these exemptions run?
- Exemption on FSI: From Jan 1, 2024 until Dec 31, 2026
- Exemption on CGT: From Jan 1, 2024 until Dec 31, 2028
How does this impact your investments?
With no taxes imposed on your investments, you can continue reaping 100% of your returns without cutting a slice for Mr Tax!
It’s time to watch your wealth grow without the tax tag-along. Invest in Versa Invest today and let your money do their happy dance with us!
Check out our Versa Growth fund on the app now which hit an impressive 17.5%* return in 2023!
*As of 31 Dec 2023. Past performance is not indicative of future results.