Exemptions Available For Real Property Gains Tax
Some interesting things that I found out about Real Property Gains Tax at hasilnet.
Exemptions Available For Real Property Gains Tax
(i) A gain arising on disposal prior to 7 November 1975, the date of coming into force of the RPGT Act 1976.
(ii) An amount of RM5,000 or 10% of the chargeable gain, whichever is greater, for each disposal of a property by an individual.
(iii) A gain accruing to the Government, a State Government or a local authority.
(iv) A once in a lifetime exemption on a gain accruing to an individual who is a citizen or a permanent resident or to a husband and wife in respect of the disposal of one private residence.
(v) A gain equal to to the amount of estate duty payable where the disposer is compelled to dispose the property in order to pay the estate duty.
