Answered step by step
Verified Expert Solution
Question
1 Approved Answer
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.
RM 800,000 550,000 8,500 9,280 4,800 5,500 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 Extension of the house Valuation fees 27,600 37,420 3,600 62,500 15,500Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started