Lowyat.NET: Latest topics by Brandon323

Is interest paid to loan from directors

Brandon323 — Sat, 17 Oct 2015 19:40:50 +0800

If a company loan RM100k from one of its directors and pay a 7% loan interest, is this loan interest tax deductible?

How to avoid scratches and dents

Brandon323 — Fri, 22 Aug 2014 09:42:07 +0800

You know, it is very painful to see new dents or scratches on your new cars right? Any tips to avoid them? Or do you think it is pointless because it is just a matter of time before you get them? Anybody managed to maintain their car dent and scratch free after more than 1 year of everyday use?

Question about shop lot

Brandon323 — Fri, 22 Aug 2014 09:22:53 +0800

Do the sidewalks of a corner shoplot belong to the owner? Aren't those sidewalks, well, for people to walk pass right? The portion of walk way in front of the shop lot does not belong to the owners right? I seldom see people use the front walkway except for some sundry shops maybe put some wares outside to sell but those corner lots are partitioned up by F&B as part of their premises. Legal?

Condo 2BR or 3BR?

Brandon323 — Sat, 28 Jun 2014 02:19:27 +0800

Do you prefer a condo size about 1,000 to 1,200 square feet to have

A) 2 bedrooms and 1 study area with a balcony

or

B) 3 bedrooms (no study area and no balcony)

Why?

Akta Perlindungan Data Peribadi

Brandon323 — Wed, 25 Jun 2014 06:56:55 +0800

Hi guys,

Am applying for a housing loan and was asked to sign a form about data privacy. In the form, there is an option to either 1) allow or 2) disallow my personal data to be disseminated among the banks subsidiaries or third parties for purpose of promotion and selling of financial products.

Should tick 1) or 2)? Any repercussions?

Need to sign new tenancy agreement?

Brandon323 — Sun, 15 Dec 2013 07:46:58 +0800

Assume you rented out a property for 1+1 year. At the end of 1st year, some people say no need to sign new tenancy agreement but some say need to sign another 1+1 TA because the previous TA only covers 1 year.

My questions:

1) Need to sign new TA or not?

2) What is the point of signing new TA? If the tenant is a good tenant and pays on time, isn't it better not to disturb things and continue as it is? If, on the other hand, after 1 year, the tenant does not pay or refuse to shift out, what good is the new tenancy agreement?

So, renew or let it be? After all, by the fact that he continues to pay rental and I continue to accept, isn't it a good enough implicit "continuation" of the expired tenancy agreement?

Note: I am talking about residentials only. For commercial, I think have to renew.

Jointly owned property and bankruptcy

Brandon323 — Mon, 14 Oct 2013 08:20:31 +0800

If a property is jointly owned by A and B, and A owes a lot on his credit card and is unable to repay, can the bank go after the jointly owned property to recover debt from A? Assume the property is without loan. Another related question: If A still jointly owns the property with B, can he be declared a bankrupt?

Selling Condo

Brandon323 — Sat, 10 Aug 2013 14:04:35 +0800

Is it common for the seller of a condo to rent to the buyer while waiting for the selling process to be completed? If yes, how much rental should be charged? What are the pros and cons of doing this?

If Refinance

Brandon323 — Fri, 09 Aug 2013 00:00:37 +0800

Interest payments are tax deductible. Usually, one just uses the bank statement to get the interest portions and claim tax deductions from rental receipts. But, what happens when we refinance? I think we can only claim interest deductions for the original loan amount but since we refinance for a bigger loan amount (possibly with another bank), how do we know how much of interest deductions we can claim? From our new loan statements, the monthly installments and interest portions are all higher. Do we just use the interest portions from last year mortgage statements to claim?

Top Up Loan

Brandon323 — Thu, 08 Aug 2013 07:49:06 +0800

Hi all,

I have a bank loan RM300k with Bank A at BLR - 1.8%.

1) If I apply for a top up loan with the same bank (separate loan account), do I need to pay legal fee and valuation fee for the top up amount?

2) Can I ask the bank to revise my original loan RM300k to new rate of BLR - 2.4%?

Thank you.

Tenancy Renewal Question

Brandon323 — Mon, 05 Aug 2013 10:18:31 +0800

Hi all,

If the tenancy agreement is signed for 1 year with option to renew another year, do we need to prepare a new tenancy agreement at the end of the 1st year assuming that tenant wants to stay on? Or, do we use the same tenancy agreement for another year since it is 1 + 1?

Do mobile bb and wireless bb share same infra?

Brandon323 — Thu, 11 Jul 2013 19:09:13 +0800

I have a few noob questions.

1) Yesterday no electricity in my area. Almost at the same time, my mobile internet change from 3G to E (is it EDGE?). My question is will power failure affect 3G mobile services?

2) If I subscribe to wireless broadband for my laptop usage, is this wireless broadband sharing the same infrastructure as mobile internet of the same provider? BTW, I use my personal hotspot of Iphone 5 mobile internet to access the internet now. Very light user.

Thanks

Do mobile bb and wireless bb share same infra?

Brandon323 — Thu, 11 Jul 2013 10:20:17 +0800

Should I sell my condo with tenancy?

Brandon323 — Wed, 10 Jul 2013 12:15:06 +0800

I have a condo tenanted to a family for close to 3 years. Payment on time always. I visited the place yesterday. It is not very dirty but also not very well kept. I rented it partial furnished so all the furniture belong to the tenant. Not expensive stuff, so it makes the place a bit cheapo. Should I take back the place and give it a fresh coat of paint and clean it up before selling? Or should I sell it while the tenant is still there? The tenant might not be so eager to open up and let potential buyers view the place although it is stated in the SPA that he is obligated to do so. I am thinking if I can sell it at a higher price if I do some minor clean up and touch up. No major reno intended.

When should I start to sell my condo?

Brandon323 — Wed, 10 Jul 2013 06:35:16 +0800

My loan with the bank has an exit penalty which will end March 2014. I understand that I must redeem the loan only after that. I also learn that it will take some time (not sure how long) for the whole process of selling till loan redemption. I need to sell to raise cash ASAP. When is the earliest I should start selling or sign SPA?