Q. How is premium calculated on lease extension in Sarawak? A. Premium payable for lease extension in West Malaysia. Renewal of Land Leases (RLL) Rates of Premium for Renewal of Read More …
Category: 1.4 Taxation
Summary to Exam Hall – Taxation
Q. Could you provide some short notes for exam? A. Go here to ‘Summary of key statutes’. Real Property Gain Tax (RPGT) Budget 2014/2015 (no change) Stamp Duty Stamp Act Read More …
Legal Fees and Stamp Duties
Q.Hidden fee are sometimes under-estimated in a property purchase and it can come out to be a daunting figure. How to calculate legal fee and stamp duties for properties ranging Read More …
IHC
Q.What is an IHC (Investment Holding Company)? What is the tax treatment for IHC? A. Tax treatment. Ref: INVESTMENT HOLDING COMPANYPublic Ruling No. 3/2011 Date of Issue: 10 March 2011 Read More …
S.4(a) or S.4(d)?
Q. What are the criteria to report the income under s.4 (a) business income and not s.4(d) rental income? What are the advantages and disadvantages? A. The key advantage of Read More …
Initial Expense
Q.The expenses incurred initially in preparing the real property for its first tenant – initial expense, is sometimes a substantial amount. Can this expense be deducted from the rental income Read More …
Commencement date of letting
Q. When is the commencement date of renting or letting of real property? Is there a difference in commencement date for rental income treatment between s.4(a) business income or s.4(d) Read More …
GST abc of
Q.From the general perspective, briefly outline the implementation of Goods and Services Tax (GST) in Malaysia. A.Very much a good introduction to GST by Richard Oon Hock Chye at Malaysian Read More …
Exemption under RPGT
Q. What is allowable as exemption under RPGT? Are properties held by a company eligible for such exemption? A. Refer earlier post on exemption to RPGT here. Malaysia Institute of Read More …
RPGT 2
Q.Explain with help of a diagram how to compute RPGT? A.Richard Oon Hock Chye has written in detail the computation of RPGT in his blog at Real Property Gain Tax 101 Read More …
Deductible expenses for rental income 1
Q.What are the deductible expenses from rental income are? A. Ref:Lembaga Hasil Dalam Negeri at http://www.ctim.org.my/file/news/14/01533_INCOME%20FROM%20LETTING%20OF%20REAL%20PROPERTY%20PR4_2011%20(10.3.2011).pdf A good write up in the form of FAQ by Tee Saw Cheng is verbatim Read More …
Stamp Duty 4
Q.How to determine which instrument of agreement is subjected to stamp duty? A. DETERMINATION OF LIABILITY The first step is to identify the class of instrument under which a particular chargeable Read More …
Premium on land conversion
Q. a) According to National Land Code, what are the various categories of land use? In case if Sarawak, how is it categorized? b) How to calculate the additional premium Read More …
Rating or Cukai Pintu/Cukai Taksiran
Q.What are Local Gov Rates and Cukai Pintu/Cukai Taksiran? A.They are taxes collectable by local government for a percentage of annual rentable sum. The law in which it is stated Read More …
Stamp Duty 1
Q.What is stamp duty and how is it calculated? A. Hence, for a One Million Property, the stamp duty due is: For the first 100,000 = 1% = 1 x Read More …
RPGT 1
Q.What is RPGT? Explain in brief how RPGT is calculated. A.RPGT or Real Property Gain Tax is tax levied on Real Property or Shares of a Real Property Company based Read More …
GST 2015 Part 1
Q. In simple chart form, explain how GST is going to affect a man on the street? A. A good illustration is provided by LoanStreet.com.my. http://loanstreet.com.my/learning-centre/GST-In-Malaysia-Explained GST In Malaysia Explained Read More …
GST 2015 Part 2
Q. How GST is going to affect taxation of properties? A. A good link to read from LoanStreet.com.my http://loanstreet.com.my/learning-centre/How-GST-Will-Impact-Home-Prices-&-The-Property-Market How GST Will Impact Home Prices & The Property Market With Read More …
Zakat and Corporate Tax
Q. Can Zakat be deducted from Corporate Tax in Malaysia? A. Yes, companies are allowed to utilize Zakat payments as tax deduction in Malaysia. For company, effective from YA 2005, Read More …
Zakat treatment for Personal Income Tax
Q. How is Zakat treated in calculating for Income Tax? Provide an illustration to explain the treatment of Zakat in Income Tax Act, 1963. A. Income Tax Act 1963 provides Read More …