Question
Saleh owned a double-storey house, his second residential house in Kedah. He purchased the house in January 2018 and disposed of the house in May
Saleh owned a double-storey house, his second residential house in Kedah. He purchased the house in January 2018 and disposed of the house in May 2020. The information regarding the acquisition and disposal of the house are as follows:
REQUIRED:
Compute the Real Property Gain Tax payable by Saleh under the Real Property Gain Tax Act 1976 in respect of the disposal of the house.
Sale price Purchase price Legal fees for acquisition Legal fees for disposal Stamp duty for acquisition Stamp duty for disposal Compensation from: Developer due to damages Insurance recovery payment Advertisement for sale RM 800,000 550,000 8,500 9,280 4,800 5,500 27,600 37,420 3,600 62,500 15,500 Extension of the house Valuation fees
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Federal Taxation 2016 Comprehensive
Authors: Thomas R. Pope, Timothy J. Rupert, Kenneth E. Anderson
29th Edition
134104374, 978-0134104379
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