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 …
Tag: 1.4
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 …
Development Charge & Capital Allowance Q7
Q. a) As an estate agent you are invited to give an opinion in a discussion regarding legislation that give an impact to property owners. Discuss development charge under the Read More …
Arrears due to Local Authority Q6
Q. Section 147(2) of Local Government Act 1976 provides that: “If any such sum or any part thereof remains due and unpaid by the end of February or by the Read More …
Conditional Contract & No Gain No Loss Q5
Q. a) Real Property Gains Tax is imposed on conditional contract. Explain:- The meaning of conditional contract. (5 marks) How acquisition and disposal of asset is determined under conditional contract. Read More …
Stamp Duty Execution of Transfer Q4
Q.Mr Sunny, a Malaysian citizen purchased a double storey bungalow located at an elite area of Bukit Damansara for RM3.5million in 2013. The owner, also a Malaysian citizen however, currently Read More …
Duties for SPA, Rental etc Q3
Q. Determine the duty payable in the following cases: a) Mrs Tan sold a parcel of residential land measuring 2.5 acres to Mr Deen in February 2013 for RM5 per Read More …
RPGT and Appeal Ahmad & Salamah Q2
Q. Mr Ahmad sold his double-storey terrace house located at Kota Damansara to Madam Salamah on 30 August, 2013. The market price for similar properties at the subject locality is Read More …
Appeal and Exemption from Annual Rates Q1
Q. You are required to advise the owners of the following holdings in relation to the properties’ assessment:- a) Madam Aminah, the owner of a factory building located at Mukim Read More …
RPGT Kurunathan & Appeal Q7
Q. Mr Kurunathan purchased a terrace factory building at Subang Jaya from Mrs Chan on 30 April, 2012 at a purchase price of 20% higher than the market value. Mrs Read More …
Capital Allowance & Deductible Expenses Q6
Q. a) Capital allowance is an allowance allowed by the Inland Revenue Board to replace the fixed asset depreciation deductible from the gross business income. Explain two (2) following components Read More …
Factors affecting premium on land alienation Q5
Q. a) Land alienation premium is determined by the State Authority upon approval of land alienation to either individual or body. The calculation of premium depends on five (5) main Read More …
Town and Country Planning Act land acquisition Q4
Q. Discuss the circumstances whereby the landowner is permitted under the Town and Country Planning Act 1976 (as amended) to serve a notice to the local authority to acquire his Read More …
Why Development Charge KL Q3
Q. Explain why development charge is levied to the landowner/developer in Kuala Lumpur. (25 marks, 2013 Q3) A. Development Charge under Town and Country Planning Act, 1976 appeared in earlier Read More …
Annual Value Q2
Q. The definition of Annual Value under Section 2 of the Local Government Act 1976 (Act 171) (as amended) is very detail. By using adequate valuation examples, elaborate what is Read More …
Rates payable is subjected to valuation Q1
Q. The determination of rates payable by owner of particular holding depends on the value computed by a valuer. The valuer may take into account the expected income from the Read More …