|
|
This Step is to ensure you are up to date
with changes to taxation law that may affect your investment property.
Real Property Gains Tax (RPGT)
(has scrapped effective from 1 April 2007)
Real Property Gains Tax (RPGT) is the tax charged on any capital gains
that arise from the sale or disposal of any asset bought or acquired
during first 5 years in Malaysia Taxation.
Example To Illustrate Calculation Of Real Property Gains Tax
|
Disposal Price on 10.01.2000 |
|
300,000 |
|
|
Less:
Renovation/extension costs |
20,000 |
|
|
|
Legal fees |
3,000 |
23,000 |
277,000 |
|
Acquisition
Price on 15.04.1996 |
|
200,000 |
|
|
Add: Duty stamp paid |
3,000 |
|
|
|
Legal fees |
2,500 |
5,500 |
205,500 |
|
Profit
|
|
|
71,500 |
|
Less: Exemption of
RM5,000 or 10%of the chargeable gain, whichever is greater |
|
|
7,150
|
|
Chargeable gain |
|
|
64,350 |
Tax on RM64,350 @ 15% = RM9,652.50
Rate of tax 15% for disposal in the fourth year after the date of
acquisition.
More details on
Real Property Gains Tax (RPGT) Rate
|
|
