Disclaimer : This information has been extracted from the principal site and may not be the latest. For details, please visit http://www.hasil.gov.my
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Prior to the abolishment, the chargeable gains arising from the disposal of any land situated in Malaysia or any interest, option or other right in or over such land or the disposal of shares in a 'real property company' is subject to RPGT.
Chargeable persons
Previously, every person whether or not resident in Malaysia is chargeable to RPGT in respect of any gains accruing on the disposal of real property in Malaysia
Rates of tax
Citizen & permanent residents
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Category of disposal
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Category of disposal
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Individuals
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%
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%
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Disposal within 2 years
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30
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30
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Disposal in 3rd year
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20
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20
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Disposal in 4th year
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15
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15
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Disposal in 5th year
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5
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5
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Disposal in 6th year & subsequent years
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5
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NIL
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Non citizen or non permanent resident
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Category of disposal
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%
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Disposal within 5 years
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30
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Disposal in 6th year & subsequent years
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5
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Acquisition & Disposal of Chargeable Assets (Real Property)
Chargeable gain or allowable loss is the difference between the disposal price and the acquisition price on the disposal of a real property
- Acquisition price includes:
Consideration per SPA
Plus Incidental costs which include
- Fees, commission or remuneration paid for professional services of surveyor, valuer, accountant, agent or legal adviser
- Cost of transfer including stamp duty
- Cost of advertising to find seller
- Interest paid on capital employed to acquire the property where such a claim has not been made under income tax for rental income
Less:
- Compensation for damages to the asset
- Receipts under an insurance policy for damages to the property
- Deposits forfeited in respect of the property
- Disposal price includes
Sale consideration
Less:
Incidental costs, which includes
- Fees, commission or remuneration paid for professional services of surveyor, valuer, accountant, agent or legal adviser
- Cost of transfer including stamp duty
- Cost of advertising to find seller
Less:
- Expenditure incurred on the asset at any time after its acquisition for the purpose of enhancing or preserving the value of asset ( includes renovations)
- Expenditure incurred in establishing, preserving or defending the owner's title or a right over the asset
Administration Form Filing
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C.K.H.T. 1 Return of disposal of chargeable asset
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To be filed within 1 month of date of disposal of chargeable asset
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C.K.H.T. 2 Return of acquisition of chargeable asset
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To be filed within 1 month of date of acquisition of chargeable asset
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Disclaimer : This information has been extracted from the principal site and may not be the latest. For details, please visit http://www.hasil.gov.my
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