Stamp Duty & RPGT calculation on incidental costs Q2


David bought a double storey terraced house on 14th September, 2018 for RM680,000. One month later, the car porch leaned and David succeeded in recovering RM15,000 by way of damages from the developer. In August, 2019, he made a renovation to the house costing RM80,000. In November the same year, Harun entered into an agreement to buy the property and he paid a deposit of RM30,000. However, Harun eventually got another better house and aborted the deal with David. Hence, the deposit of RM30,000 was forfeited. In June, 2021, David sold the property for RM880,000 and incurred the following expenses for the sale:

  • Valuation fee-----------------RM1,710
  • Cost of advertisement-------RM1,200
  • Agency fee--------------------RM22,000

Calculate Real Property Gains Tax and Stamp Duty payable by David.

(25 marks)

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