Q. Real Property Gains Tax was re-imposed from 1 January, 2010. Using appropriate examples, explain the followings: a) Chargeable gains (8 marks) b) Allowable losses (7 marks) c) Tax relief Read More …
Tag: 1.4
Refund or Remission Local Rates Q6
Q. Under Section 162 of Local Government Act (Act 171), where any building is unoccupied and no rent is payable in respect thereof during a period of not less than Read More …
Industrial Building Allowance & Deductible Expenses Q5
Q. a) The Income Tax Act 1967 specifically provides that certain special building qualify as industrial buildings and thus, qualify for industrial building allowance (IBA). IBA is granted to a Read More …
Annual Value and Improved Value Q4
Q. As an estate agent you are required to give advice regarding ‘Annual Value’ and ‘Improved Value’ in a discussion relating to Local Government Act 1976 which gives an impact Read More …
Stamp Duty Act 1949 Q3
Q. a) The Stamp Duty Act 1949 provides the imposition of duty or tax according to the value of the property from every transaction of property. Explain what a stamp Read More …
Development Charge Q2
Q. Notwithstanding any provision in the Federal Territory (Planning) Act 1982 (Act 267), the Commissioner may refuse to grant planning permission or revoke any development order granting planning permission for Read More …
Stamp Duty Objection and Appeal Q1
Q. Any person who is dissatisfied with an assessment of the Collector under section 36 of the Stamp Duty Act 1949 may, by written notice object to the assessment and Read More …
Allowable grounds on Objection to Assessment Tax Q5
Q. Any person aggrieved on any of the allowable grounds provided in the Local Government Act 171 (1976) may make objection in writing to the local authority at any time Read More …
RPGT and Appeal Q4
Q. Mrs Suria purchased a double storey terrace house at Subang Perdana from Mrs Asiah on 30 April, 2008 at a purchase price of 20% higher than the market value. Read More …
Stamp Duty & RPGT Calculation Q2
Q. Calculate the stamp duty and real property gains tax that need to be paid for the following transactions and explain who are responsible to settle the payment. a) Mr 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 …