1.Which of the following statements relating to real property gains tax (RPGT) is true?

A.Residential properties in Malaysia do not fall within the scope of RPGT

B.The disposal of a property in Malaysia is not subject to RPGT if rental income derived from the property has previously been assessed to income tax

C.Both RPGT and income tax may apply at the same time on a gain arising from the disposal of a property in Malaysia

D.The disposal of a property located outside Malaysia, by a Malaysian citizen, is not subject to RPGT

2.Albert and his wife, Catherine, sold a jointly owned Malaysian property on 30 June 2020 for RM3 million. They had each purchased 50% of the property four and a half years previously for a total of RM2 million. Albert is a Malaysian citizen and Catherine is an Australian citizen and both are non-residents. What is the total real property gains tax (RPGT) payable in respect of the disposal on 30 June 2020 by Albert and Catherine?

A.RM202,500

B.RM217,500

C.RM300,000

D.RM225,000

3.Raymond, a Taiwanese citizen, disposed of a property in Johor, Malaysia in May 2020 for RM1.4 million. Raymond had purchased the property in April 2017 for RM780,000. He also incurred stamp duty and legal costs associated with the purchase totaling RM35,000. Raymond spent RM100,000 in April 2016 building a balcony to the master bedroom. What is Raymond's chargeable gain for real property gains tax (RPGT) purposes, on the disposal of the property in May 2020 after taking into account all possible deductions and exemptions?

A.RM485,000

B.RM526,500

C.RM520,000

D.RM436,500

4.Which of the following factors is NOT relevant in determining whether a gain made by a company from the disposal of real property is income or capital in nature?

A.The length of ownership of the asset

B.The intention of the company at the time the asset was acquired

C.Whether the company is a private or public limited company

D.Whether the company has any experience in trading in real property

5.On 10 October 2014, Cool Bhd (Cool) paid a deposit for the purchase of a property, although there was no written agreement. The legal title of the property was transferred to Cool on 4 April 2016 and Cool paid the full consideration to the seller on 12 June 2016.

In 2018, Cool decided to sell the property and found a suitable purchaser. On 18 November 2018 it entered into a sales and purchase agreement (SPA) with the purchaser. The full consideration was received by Cool on 26 May 2019, and the legal title was transferred on 2 June 2019.

The chargeable gain arising on the sale was RM500,000.

What is the real property gains tax (RPGT) payable by Cool Bhd on the sale of the property?

A.RM150,000

B.RM100,000

C.RM25,000

D.RM75,000

6.In relation to the private residence exemption (PRE) for real property gains tax (RPGT) purposes, which of the following statements is FALSE?

A.The PRE is an exemption that an individual can only enjoy once in their lifetime

B.Only Malaysian citizens or individuals permanently resident in Malaysia are eligible for the PRE

C.A disposer is entitled to PRE only if an irrevocable written application to the Director General of the Inland Revenue is made

D.The PRE is only available in respect of a private residence in which the disposer has resided

7.On 28 August 2019 Yen Sdn Bhd (YSB) disposed of a building in Malaysia for RM2,200,000. YSB had acquired the property on 12 December 2015 for RM1,000,000 plus legal fees of RM28,000 and stamp duty of RM12,000.

During YSB's ownership, it incurred the following costs:

Installation of a drainage and irrigation systemRM13,000

Interest expenseRM24,000

What is Yen Sdn Bhd's acquisition price of the property for real property gains tax (RPGT) purposes?

A.RM1,077,000

B.RM1,053,000

C.RM1,040,000

D.RM1,064,000

9.Zizan acquired a property four years ago, and in 2019 entered into an agreement to dispose of the property to AB Sdn Bhd (ABSB). Zizan and ABSB verbally agreed to enter into a contract on 10 April 2019. Both parties signed the contract on 24 April 2019. Zizan received the full consideration on 6 June 2019 and the legal title to the property was transferred on 10 July 2019.

What is Zizan's date of property disposal for the purposes of real property gains tax?

A.24 April 2019

B. 10 July 2019

C. 6 June 2019

D.10 April 2019

10.Mickey sold a shophouse in Malaysia on 3 November 2020 for RM800,000. He bought the shophouse in 2014 and has undertaken renovation which cost RM50,000. Mickey also incurred interest expense of RM30,000 in relation to a loan taken out to finance the purchase of the shophouse. He attempted to sell the shophouse in 2019 but the prospective buyer aborted the sale. He forfeited a deposit of RM10,000.

What is the disposal price to Mickey in relation to the sale of the shophouse on 3 November 2020?

A.RM800,000

B.RM750,000

C.RM710,000

D.RM760,000