Thomas Sim E3009

Q.Explain what is tax relief for allowable losses in Real Property Gains Tax.A.Section 7 (4) of the RPGT 1976 specifies that:(4)(a) Where there is an allowable loss in respect of a disposal, tax relief shall be […]

Q.
Provide a standard format for calculation of RPGT in Malaysia. Illustrate the various parts and workout of the steps.

A.
MIA (Malaysian Institute of Accountants) has published a concise version of Real […]

Q.When is “Fair Market Value” (FMV) used in calculation of tax treatment in RPGT or Stamp Duty?A.Stamp Duty Act 1949 specifies that Market Value or Actual Price which ever is higher is used for calculation of […]

Q.
What are the available methods for valuation of property?

A.
JLJ – Jordan Lee & Jaafar, in its website

Another good write up is at Investopedia posted verbatim here.

JLJ has a good write up on this subject. […]

Proposed revision of assessment rates explainedPosted on December 4, 2013  | 1990 views |  Topic : Property News.BY CHRISTOPHER CHANIn recent weeks, we have read newspaper reports that the Kuala Lumpur City Hall ( […]

Q.
What is Annual Value and how to arrive at the Assessment Rates?

A.
Please refer earlier posts on “Annual Value” in past year 2013 Tax Q2.

It is this Annual Value which is used to arrive at the […]

Q.Why alienation is the best mode of disposal of State Land?A.Below are reasons why alienation is the best mode of acquiring a land:Proprietor gets the title to the land, this resembles ownership in law,Period of […]

Q.
What are the exemptions under the Local Government Act for assessment rates?

A.
Appeal for reduction on assessment rates has been posted in:

Past year 2011 Q5 allowable grounds for objection to […]

Q.
b) Explain the advantages and disadvantages of the following economic systems:-

i) Central command system. (5 marks)
ii) Free market system. (5 marks)
iii) Regulated or mixed market system. (5 […]

Q.

b) Explain the advantages and disadvantages of the following economic systems:-

i) Central command system. (5 marks)
ii) Free market system. (5 marks)
iii) Regulated or mixed market system. (5 […]

Q.
b) Explain the advantages and disadvantages of the following economic systems:-

i) Central command system. (5 marks)
ii) Free market system. (5 marks)
iii) Regulated or mixed market system. (5 […]

Q.b) Define inflation and explain the different degrees of inflation. (8 marks)(8 marks, 2013 Q5b)A.Inflation is associated with rising price. It is a situation in which there is a sustained, inordinate […]

Q.b) Explain the characteristics of money as a medium of exchange. (5 marks)(5 marks, 2013 Q6b)A.MONEY CHARACTERISTICS:The four primary characteristics of money are: (1) durability, (2) divisibility, (3) tr […]

Q.
b) Explain with examples, the meaning of protectionism. (5 marks)

(5 marks, 2013 Q7b)

A.
DEFINITION OF ‘PROTECTIONISM’

Government actions and policies that restrict or restrain international trade, […]

Q.a) Fiscal Policy refers to the regulation of the level of government spending, taxation and public debt.Explain:iii) Contractionary Fiscal Policy. (5 marks)(5 marks, 2013 Q7aiii)A.From AmosWEB search […]

Q.What is expansionary monetary policy? Is there a similarity to expansionary fiscal policy?A.Below is an article from AmosWEB under Encyclonomic Webpedia:EXPANSIONARY MONETARY POLICY:A form of monetary policy in […]

Q.a) Fiscal Policy refers to the regulation of the level of government spending, taxation and public debt.Explain:ii) Expansionary Fiscal Policy. (5 marks)(5 marks, 2013 Q7aii)A.DEFINITION OF ‘EXPANSIONARY […]

Q.Explain the impact of the following due to the increase in rate of inflation:-i) Price level of goods and services. (4 marks)ii) Value of money. (4 marks)iii) Profits of entrepreneur. (4 marks)iv) Dividend and […]

Q.
a) Fiscal Policy refers to the regulation of the level of government spending, taxation and public debt.

Explain:

i) Objectives of Fiscal Policy. (5 marks)

ii) Expansionary Fiscal Policy. (5 […]

Q.
a) The circular flow of income shows the economic interaction between the different sectors in the economy. It also involves the income received and income payments made by different sectors to the […]