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:

Sale price 800,000

Purchase price 550,000

Legal fees for acquisition 8,500

Legal fees for disposal 9,280

Stamp duty for acquisition 4,800

Stamp duty for disposal 5,500

Compensation from: Developer due to damages 27,600

Insurance recovery payment 37,420

Advertisement for sale 3,600

Extension of the house 62,500

Valuation fees 15,500

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. (10 Marks)

B. In Budget 2020, several announcements have been made related to Islamic Based Transaction. From your point of view, explain FOUR (4) proposed announcement made in Budget 2020 with regards to Islamic Based Transaction and relate your answer with tax incentives. (10 Marks)