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36 Real Property Gain Tax (RPGT), DP = AP (NGNL), Para 3(a) Devolution if…

- - - - Disp price > acq price = CG
      - Disp price < Acq price = Allowable Loss
      - Disp price = Acq price = No gain no loss (NGNL)
  - - - Land covers
        
        the surface of the earth
        
        the earth below the surface and substances therein
        
        building on land and anything attached to the buildings
        (P+M permanently affixed to factory, consider as land, RPGT)
        
        standing timber, trees, crops and other vegetation growing on land (logs X standing anymore, ITA)
        
        land covered by water
    - - Acquire
        
        acquire by the way of purchase, grant, gift, settlement or otherwise
      - Dispose
        
        sell, convey, transfer, assign, settle or alienate whether by agreement or by force of law (include compulsory acquisition by gov)
- - - - bought land + build factory
      - buy hse on land, extend kitchen
      - buy land, plant coconut tree (Agri A applied when dispose)
    - - excluded
        
        allowable exp to arrive at adj Y/loss,
        X to be considered for RPGT
        
        CAPEX for CA (IBA/ Agri A for ITA) would be part of PE
      - types of IC
        
        on acq and disposal
        
        stamp duty
        
        agent's fee
        
        commission
        
        prof fee (legal fee, valuation fee)
        
        advertisement to look for buyer/seller
        
        :red_cross: Quit rent and assessment (ded agnst rental Y under ITA)
        
        :red_cross: int on loan (X ded, specifically under ITA)
  - - - DP = MV of the asset received by the disposer
    - - DP = MV of the asset disposed as the consideration for the disposal
- - - - Para4 (1)(a)
        Compensation received for damage to the asset
      - Para 4(1)(b)
        Insurance receipt for the damage to the asset
      - Para 4 (1)(c)
        Deposit forfeited w an intended sale which was aborted
    - - no disposal, amt is taxable in YA of receipt of compensation
      - X claim S4 exemption even disposer is ind
      - ∴ DP - AP (AP=0) = CG = DP, amt taxable in YA of disposal, can claim S4 exemption
- - - - higher of
        
        RM10,000
        
        10% of CG
    - - higher of
        
        10% of CG
        
        (area disposed/ total area) x RM10,000
      - AP, PE (EC+DT): apportion based on area disposed
- - - - owned by him
      - an election in writing has been made and the election is irrecoverable
      - he has not claimed any exemption on other private residence in prior disposal
        the exemption is only granted on the disposal of one private residence in the individual's lifetime
      - occupied or certified fit for occupation as a place of residence
- - - - Date of approval
    - - Date when the last of such conditions is satisfied
- - - - transferor obtain prior approval from DG
      - transferee Co be R in Msia
    - - transferor
        
        DP = AP, NGNL, RPGT exempt
      - transferee
        
        AP = transferor's AP + transferor's PE
  - - - DP = MV the date asset is taken into stk
      - taxed under ITA ded from Gross Y from biz
- - - - transferor
        DP = AP, NGNL, X RPGT payable
      - recipient
        AP = transferor's AP + transferor's PE (EC+DT)
        AD: date of transferor transfers asset to recipient
    - - transferor
        DP = MV, pay RPGT
      - recipient
        AP = MV at the time of disposal
- - - - DP = AP, NGNL
    - - CA, subject to RPGT
      - DP = transferor's AP + transferor's PE - cash payment
      - AD: date of transfer
  - - - AP = transferor's AP + transferor's PE
      - actual acquisition is ignored
      - AD: date of transfer
- - - - bro to sis
      - uncle to niece
      - parent to child on consideration
      - grandparent to grandchild on consideration
      - biz partner to biz partner
      - biz partner to biz partner's spouse