Q. If you are not agreeable to the RPGT imposed on your recent property disposal, what can you do? A. The transaction of real property would attract two taxes. One Read More …
Category: 1.4 Taxation
Stamp Duty Appeal
Q. b) If Mr Eric is not satisfied with the amount of duty to be paid, explain the actions that can be taken by him. (10 marks) (10 marks, 2013 Read More …
Deductible Expenses for Rental Income 2
Q. b) Miss Dee rented her condominium unit to Mr Boon for a period of 2 years effective from January 2011. The tenant, Mr Boon was introduced to Miss Dee Read More …
Conditional Contract
Q. What is a Conditional Contract in RPGT? What then is “Conditional Contract of Sale”? What is a Conditional Sale in Real Estate? A. Refer Tax 2014 Q5 From Real Read More …
Tax Relief for Allowable Losses
Q.Explain what is tax relief for allowable losses in Real Property Gains Tax. A.Section 7 (4) of the RPGT 1976 specifies that: (4)(a) Where there is an allowable loss in Read More …
Standard Format RPGT Calculation
Q. Provide a standard format for calculation of RPGT in Malaysia. Illustrate the various parts and workout of the steps. A. MIA (Malaysian Institute of Accountants) has published a concise Read More …
Market Value vs Actual Price in RPGT and Stamp Duty
Q.When is “Fair Market Value” (FMV) used in calculation of tax treatment in RPGT or Stamp Duty? A.Stamp Duty Act 1949 specifies that Market Value or Actual Price which ever Read More …
Proposed Revision of Assessment Rates Explained
Proposed revision of assessment rates explained Posted on December 4, 2013 | 1990 views | Topic : Property News. BY CHRISTOPHER CHAN In recent weeks, we have read newspaper reports that the Kuala Lumpur City Read More …
Alienation as best mode of disposal
Q.Why alienation is the best mode of disposal of State Land? A.Below are reasons why alienation is the best mode of acquiring a land: Proprietor gets the title to the Read More …
Exempted from Assessment Rates
Q. What are the exemptions under the Local Government Act for assessment rates? A. Appeal for reduction on assessment rates has been posted in: Past year 2011 Q5 allowable grounds Read More …
Annual Rent for Sarawak
Q. How is the rates for calculation of Annual Rent payable to the Land and Survey Department of Sarawak? A. Like in West Malaysia, there is Cukai Pintu for houses, Read More …
Premium and Land use in Sarawak
Q. a) What are the types of land use in Sarawak? Is it different from West Malaysia? b) Whereby there is conversion from one use to another, how is it Read More …
Renewal of Land Lease for Sarawak
Q. How is premium calculated on lease extension in Sarawak? A. Premium payable for lease extension in West Malaysia. Renewal of Land Leases (RLL) Rates of Premium for Renewal of Read More …
Summary to Exam Hall – Taxation
Q. Could you provide some short notes for exam? A. Go here to ‘Summary of key statutes’. Real Property Gain Tax (RPGT) Budget 2014/2015 (no change) Stamp Duty Stamp Act Read More …
IHC
Q.What is an IHC (Investment Holding Company)? What is the tax treatment for IHC? A. Tax treatment. Ref: INVESTMENT HOLDING COMPANYPublic Ruling No. 3/2011 Date of Issue: 10 March 2011 Read More …
S.4(a) or S.4(d)?
Q. What are the criteria to report the income under s.4 (a) business income and not s.4(d) rental income? What are the advantages and disadvantages? A. The key advantage of Read More …
Initial Expense
Q.The expenses incurred initially in preparing the real property for its first tenant – initial expense, is sometimes a substantial amount. Can this expense be deducted from the rental income Read More …
Commencement date of letting
Q. When is the commencement date of renting or letting of real property? Is there a difference in commencement date for rental income treatment between s.4(a) business income or s.4(d) Read More …
GST abc of
Q.From the general perspective, briefly outline the implementation of Goods and Services Tax (GST) in Malaysia. A.Very much a good introduction to GST by Richard Oon Hock Chye at Malaysian Read More …
Exemption under RPGT
Q. What is allowable as exemption under RPGT? Are properties held by a company eligible for such exemption? A. Refer earlier post on exemption to RPGT here. Malaysia Institute of Read More …