IreneChung

Q.
Section 147(2) of Local Government Act 1976 provides that:

“If any such sum or any part thereof remains due and unpaid by the end of February or by the end of August in each year, as the case may be, it […]

Q.
a) Real Property Gains Tax is imposed on conditional contract. Explain:-

The meaning of conditional contract. (5 marks)

How acquisition and disposal of asset is determined under conditional contract. (8 […]

Q.Mr Sunny, a Malaysian citizen purchased a double storey bungalow located at an elite area of Bukit Damansara for RM3.5million in 2013. The owner, also a Malaysian citizen however, currently lived in Dundee, […]

Q.
Determine the duty payable in the following cases:

a) Mrs Tan sold a parcel of residential land measuring 2.5 acres to Mr Deen in February 2013 for RM5 per sq foot. The private valuer engaged by Mr Deen […]

Q.
Mr Ahmad sold his double-storey terrace house located at Kota Damansara to Madam Salamah on 30 August, 2013. The market price for similar properties at the subject locality is RM650,000 per unit. However, Mr […]

Q.
You are required to advise the owners of the following holdings in relation to the properties’ assessment:-

a) Madam Aminah, the owner of a factory building located at Mukim of Kapar, Selangor has received […]

Q.
Mr Kurunathan purchased a terrace factory building at Subang Jaya from Mrs Chan on 30 April, 2012 at a purchase price of 20% higher than the market value. Mrs Chan inherited the property from her father’s […]

Q.
a) Capital allowance is an allowance allowed by the Inland Revenue Board to replace the fixed asset depreciation deductible from the gross business income. Explain two (2) following components of capital […]

Q.
a) Land alienation premium is determined by the State Authority upon approval of land alienation to either individual or body. The calculation of premium depends on five (5) main factors. Using appropriate […]

Q.
Discuss the circumstances whereby the landowner is permitted under the Town and Country Planning Act 1976 (as amended) to serve a notice to the local authority to acquire his land.

(25 marks, 2013 […]

Q.
Explain why development charge is levied to the landowner/developer in Kuala Lumpur.

(25 marks, 2013 Q3)

A.
Development Charge under Town and Country Planning Act, 1976 appeared in earlier […]

Q.
The definition of Annual Value under Section 2 of the Local Government Act 1976 (Act 171) (as amended) is very detail. By using adequate valuation examples, elaborate what is Annual Value.

(25 marks, 2013 […]

Q.
The determination of rates payable by owner of particular holding depends on the value computed by a valuer. The valuer may take into account the expected income from the premises or the market value. Explain […]

Q.
Real Property Gains Tax was re-imposed from 1 January, 2010. Using appropriate examples, explain the followings:

a) Chargeable gains (8 marks)

b) Allowable losses (7 marks)

c) Tax relief for allowable […]

Q.
Under Section 162 of Local Government Act (Act 171), where any building is unoccupied and no rent is payable in respect thereof during a period of not less than one calendar month in any half year in respect […]

Q.
a) The Income Tax Act 1967 specifically provides that certain special building qualify as industrial buildings and thus, qualify for industrial building allowance (IBA). IBA is granted to a person who incurs […]

Q.
As an estate agent you are required to give advice regarding ‘Annual Value’ and ‘Improved Value’ in a discussion relating to Local Government Act 1976 which gives an impact to the property owners. Discuss […]

Q.
a) The Stamp Duty Act 1949 provides the imposition of duty or tax according to the value of the property from every transaction of property. Explain what a stamp duty is and clarify the two types of stamp duty […]

Q.
Notwithstanding any provision in the Federal Territory (Planning) Act 1982 (Act 267), the Commissioner may refuse to grant planning permission or revoke any development order granting planning permission for […]

Q.
Any person who is dissatisfied with an assessment of the Collector under section 36 of the Stamp Duty Act 1949 may, by written notice object to the assessment and apply to the Collector to review the […]