Johnson Limited, a company in Malaysia, entered into a Sale and Purchase Agreement with a property developer on 1 May 2019 to purchase a Condominium in Kual Lumpur. The cost of the condo was RM400 million and the Land was valued at RM10 Million.

This sum was paid to the developer on 1 August 2019.

Johnson incurred the following costs in relation to the acquisition of the property:

(i) Stamp duty is RM300 000;

(ii) Legal fees for the preparation of sale and purchase agreement is 2% of the purchase price

(iii) Cost incurred to extend kitchen and an extra patio for the house is RM160,000.

On 30 June 2022, Johnson disposed of the Condo to Ferguson for a consideration of RM402,000

million. Johnson limited incurred RM400 000 for valuing the Condo prior to its disposal. He

also paid two per cent commission to the real estate agent who introduced the buyer to purchase the property.

Required:

Compute the real property gains tax payable by Johnson limited, if any, in the year of

assessment 2022.