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LN 4.2 RPGT (Comp. Sample)

This document provides an example of computing real property gains tax (RPGT) in Malaysia. It outlines the acquisition and disposal prices of a property, permitted expenses and costs, calculation of chargeable gains, exemptions, and computation of RPGT payable for a disposal occurring in the fourth year after acquisition.

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26 views

LN 4.2 RPGT (Comp. Sample)

This document provides an example of computing real property gains tax (RPGT) in Malaysia. It outlines the acquisition and disposal prices of a property, permitted expenses and costs, calculation of chargeable gains, exemptions, and computation of RPGT payable for a disposal occurring in the fourth year after acquisition.

Uploaded by

MinWei1107
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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BBFT3014/BBFT3013 ADVANCED TAXTION

LN 4.2: Sample of the RPGT Computation

Date of acquisition: Date of agreement. 1.4.2017 Disposal in the 1.4.2017 to 31.3.2018 1st Year
Date of disposal: If no agreement, follow date of completion 30.3.2021 4th years 1.4.2018 to 31.3.2019 2nd Year
1.4.2019 to 31.3.2020 3rd Year
1.4.2020 to 30.3.2021 In the 4th Year
RPGT Computation - Year of Assessment 2021 (Note 1 below)
RM RM RM
DISPOSAL PRICE (DP) (Consideration in money / Money's worth / Market value) X
Less: Permitted expenses
Enhancement cost
- Construction cost for buildings / extension expenses X
- Renovation / Improvement cost X
- Drainage & irrigation system, fencing X
Legal fees in defending title of real property X
(X)
Less: Incidental cost of disposal
Legal fee / Tax agent fee / Real estate agent's fee X
Stamp duty X
Advertisement cost seeking a buyer X
Professional fees X
Commission to agents / brokerage fees X
Land valuation fees X
(X)
DISPOSAL PRICE X
ACQUISITION PRICE (AP) (Consideration in money / Money's worth / Market value) X
Add: Incidental cost of purchase
Legal fees for S & P (NOT for bank loan / finance) X/(-)
Loan interest expenses on acquisition of real property -
Stamp duty X
Advertisement cost seeking seller X
Professional fees X
Commission to agents X
Land valuation fees X
X
Less: Recoveries X
Compensation for damage of real property X
Insurance claim for damage of real property X
Deposit forfeited from intended transfer / purchase X
(X)
ACQUISTION PRICE (X)
CHARGEABLE GAINS (DP more than AP); or 400,000
Less: Paragraph 2 of Schedule 4 exemption (Individual only)
- 10% of chargeable gain (RM400,000 x 10% ) or RM10,000, whichever is higher (40,000)
or
- Part disposal: Land 50 acres /100 acres x RM10,000 = RM5,000 (X)
- Loss relief (w.e.f. 1.1.2010) (Individual / Company) [Note 3 below] (X)
GAINS SUBJECT TO RPGT 360,000

RPGT PAYABLE
RPGT tax on RM360,000 X 20% (In the 4th year) 72,000.00
Less: RPGT loss b/f from disposal of a real property before 1.4.2007 [Note 3 below] (2,000.00)
70,000.00

Notes:
1 The year of assessment for RPGT is current calendar year.
2 No RPGT tax for the period from 1.4.2007 to 31.12.2009.
3 Loss relief (w.e.f. 1.1.2010) and / or RPGT loss b/f (before 1.4.2007) from previous disposal of real properties are
allow to set-off against the Chargeable gain and / or RPGT payable from the disposal of real properties.

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