Category: 1.4 Taxation

Q.I always get confused with the calculation of Acquisition Price of real property gains tax, do you have an easy to remember format? A.A good format is by SM Thanneermalai Read More …

Q. (b) Daud bought a double storey terraced house on 20th August 2011 for RM400,000. One month later, the car porch leaned and Daud succeeded in recovering RM10,000 by way Read More …

Q. What is the effect of Town and Country Planning Act, 1976 on property owner like you? A. Town and Country Planning Act, 1976 (hereafter TCPA) has more impact on Read More …

Q. b) Adi Putra purchased a parcel of agricultural land encompassing an area of one (1) acre on 1 Jun, 2009 at RM100,000. He submitted an application for conversion to Read More …

Q.If Abu is buying a house first time today (08.07.2015), and his purchase price is RM500,000, he is to take maximum loan available to him. What would be the stamp Read More …

Q. Briefly outline recent changes to Real Property Gains Tax 2015 according to Budget 2015. A. For sample of calculation go here. Ref: Wong & Partners, Client Alert – Budget Read More …

Q.In real property law, differentiate fixtures from chattel. A.Chattel property is converted into a fixture by the process of attachment. For example, if a piece of lumber sits in a lumber Read More …

Q. Define what you understand by: i) Hereditament ii) Chattel iii) Fixture iv) ‘rebus sic stantibus’ A. i) Hereditament In law, a hereditament (from Latin hereditare, to inherit, from heres, Read More …

Q. You are an estate negotiator. You client asks you what are the stamp duties you have to pay when you rent or buy properties. A. Below is extract from Read More …

Q. What are the available exemptions to Stamp Duty (as of 2015)? A. Stamp Duty changes over time due to policy of government in its tax collection. Multiplied by measures Read More …

Q. Owing to old age, Mr Sukumaran left his shoplot to his brother Mr Narenthan to take care. However, Mr Narenthan is a busy man. Although the shop had been Read More …

Q. Please list out the key statutes which should be stated in exam. A. Go here for ‘Summary to Exam Hall’ Planning Control and Development charge – Town and Country Read More …

Q. Can annual payment of rates be waived or refunded? A. Waived: Only when it is exempted. See Exemption from assessment rates here. Refunded: Yes, refund as in earlier posting past Read More …

Q. What are the grounds that a holding can appeal for revaluation or reassessment? What is the process of new valuation list? A. There are two things commonly asked about Read More …

Q.What is the penalty if the property owner does not pay the assessment rates? A.1) A fine of RM 20 (for outstanding amount exceeding RM 100).2) Notice (Form E) shall be Read More …

Q. What is drainage rate in Local Government Act, 1976? A. Drainage Rate is provided by the Local Government Act Section 132 at maximum of 5% of the Annual Value Read More …