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Anonymous

30 Apr 2020

SeedlyAMA

Is anyone familiar with Malaysia inheritance Taxes and governances?

I do not know if anyone can advise if Malaysia has inheritance tax and is the power of attorney still valid if the donor has passed on. Will need some information as I need to help my dad manage his Malaysian asset ever since he got a stroke. Thanks

Discussion (2)

What are your thoughts?

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For Inheritance Tax,

Refer here. Look for Inheritance Tax and Gift Tax

https://www.labuanibfc.com/resource-centre/feat...

short answer: It depends on what kind of asset.

This may help.
https://www.propertyguru.com.my/property-guides...

Power of Attorney explanation

https://fareezlaw.com/blog/what-do-you-need-to-...

Malaysia power of Attorney Act

http://www.agc.gov.my/agcportal/uploads/files/P...

Sample for Letter of Attorney
https://www.facebook.com/megnacha/posts/sample-...

Good Luck.

Lim Boon Tat

24 Jan 2020

Mathematics at Cambridge University

Malaysia does not have inheritance tax, but it’s a topic that comes up frequently, most often when discussing the rich-poor gap (this debate takes place in Singapore too).

Based on my limited legal knowledge (you should seek legal counsel), The POA is invalid the moment the principal (in the case, your dad) passes away. The POA is valid while your dad is still alive. Upon his death, The court will appoint an administrator of his estate and it’s that person’s duty to manage his estate (following his wishes in his will if any).

Also useful to note is that the POA doesn’t give you the power to create or change your dad’s will, but it does give you full autonomy to perform the tasks in the POA.

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