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RPGT 1976 - Coggle Diagram

- - - - Part exemption provided to individual under Sch 4 to greater of
        
        RM10k or
        
        10% CG
    - - Part exemption given greater of
        
        Area dispose/total area X 10k
        
        10% CG
    - - AP will be apportioned
      - amount of PE require to be apportioned
- - - - disposal not been included in return submitted to IRB
      - disposal of shares in real property co
- - - - Chargeable assets includes real property & shares in real property co
        
        Real property is defined
        
        any land situated in Mas
        
        any int, option or other right in over such land
        
        Land is defined to cover
        
        surface of earth
        
        earth below surface & substance therein
        
        Building on land and anything attached to building
        
        Standing timber, trees, crops and other vegetation growing on land
        
        Land covered by water
- - - - SP of asset (in money/money's worth)
    - - those wholly & exclusively incurred on asset after acquisition for purpose of enhancing/preserving value of asset, reflected in state of asset at the time of disposal
      - amount of any expenditure wholly & exclusively incurred after acquisition in preserving/defending his tittle to/to a right over asset
    - - commission/fees paid for proff services
      - cost of transfer
      - cost of ads to find buyer
      - cost reasonably incurred to make any valuation /ascertain MV of asset
      - exclude expenses qualify as allowable expenses under ITA
- - - - Price paid (money/worth's money) wholly and exclusively for acquisition of chargeable asset
    - - ads expenses incurred to find seller
      - tax agent fees
      - survey, commission & valuation fees
      - exclude expenses qualify as allowable expenses under ITA
      - Stamp duty & legal fees (except legal fees on loan agreement to finance purchase of asset
    - - insurance compensation received for damage, loss, destruction or dep of asset
      - deposit forfeited in connection with an intended purchase of asset
      - compensation/received for damage, destruction or dep of asset
      - Recoveries>acq cost
        
        chargeable gain
        
        taxable in YA recovery received
        
        when there is subsq disposal, acq will be nill