Reference no: EM132955177
Question - Sofia, a consultant, holds several real properties in Malaysia for investment purposes. She has approached you as the tax advisor for the following real properties transactions: -
On 28.9.2010, Sofia acquired a terrace house in Dengkil at RM400,000 and incurred stamp duty of RM7,000 and legal fees of RM3,000. Sofia then disposed of the terrace house at RM380,000 on 8.10.2016 and paid commission fee ofRM4,000 to a housing agent.
On 10.7.2018, Sofia disposed of another terrace house in Damansara at RM850,000. The house was bought on 8.3.2011 at RM450,000. She has incurred stamp duty ofRM8,000 and legal fees ofRM3,600 at the time of acquisition.
Required -
(a) Compute the allowable loss / chargeable gain for each disposal respectively.
(b) Discuss THREE (3) circumstances in which a person is not liable to RPGT.
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