Funny how your solicitor forgot to quote you for filing CKHT 2A, which ought to cost RM/purchaser. Lucky you then!:P disbursements. Disposer to complete Form CKHT 3, CKHT 1A (for disposal of property) and/or CKHT 1B (for Real Property Acquirer to submit CKHT 2A with CKHT 3 to IRB. CKHT 2A [buyer/ acquirer] – for buying real property or RPC shares – use If the disposal comes under Income Tax Act , do not file CKHT.

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Nov 15 The acquisition price for the additional shares in the real property company is ascertained pursuant to 2s 4 or 9, Schedule 2, that is, the total of cash value or market value for acquiring the shares as provided under para 34 ckut b.

If the legal fees are absorbed by the developer, then they would insist that you use of their panel firm of solicitors. The disposal1 in example 7 a above was after nearly 8 years of purchase — It’s ridiculous, to be honest.

Advantage, Rakyat!

For further details, you can refer to my earlier post, Real Property Gains Tax The 10, bonus shares are deemed to ckyt been acquired onthat is, on the date of acquisition as provided under para 34 9 b.

And how come there’s Misc as well as Incidentals? Nov 14 What do you think? If disposals are made after the fifth year, you can put your RM3, to a more productive use. With regard to the legal fees for your loan documentation, you would also need to check this with the developer.

Disposal 1 — Aishah bought a piece of land in Alor Star on at RM, to be sold subsequently on for RM, Attach evidence of sale and purchase. Enclose documents in support of allowable expenditure incurred. Correct if I am wrong.

Based on my knowledge, the property developer company is not subject to RPGT but subject to the corporate tax. The Speculation Tax Act was 22a on 6 December to restrain speculative activities. You must ask your lawyer to give you a breakdown of the disbursements incurred. It’s Still There Known for its flipping history, probably people may question if the scale rates would be back.

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Procedure For Filing Real Property Gains Tax Form | Malaysian Taxation

He would perhaps be in a better position to answer your query for the time being. I will only raise an issue to the Bar Council after I have exhausted all avenues to get things done, and it is truely my lawyer who is not doing his job, It was bought on 1.

Its paid up capital was increased toshares, out of which 50, shares cjht issued in the form of bonus shares from the excess reserve by reason of re-valuation, and distributed to the existing shareholders. Calculation of acquisition price of 20, shares is as follows: NIL The balance of 4, tax relief i. It can be incorporated into 1 and it’ll only cost RM Based on similar facts in Example 3a under the joint venture agreement, the owner received 10 terraced houses and RM50, in cash.

This is at variance with the original Schedule 5 re rates of tax. For disposal beforeCertificate to the effect that gains tax has been paid in full. In the interim, your bank will make the necessary 2w payments to kcht developer 4 Sometimes, the individual strata ttitle may be obtained in before the project is ciht.

Do I have to engage my own lawyer or it’s covered by the developer since they Yes there are legal fees involved, unless it is absorbed by the developer, as explained in the answer to question 2 above. Are this the only two legal fees that I’ve to pay or there are other miscalleneous cost to this as well? How do I calculate chargeable gains and allowable losses?

What You Need To Know About Real Property Gains Tax

In the kingdom of the blind, the one-eyed man is king Property Talk Group: Responsibility of the Disposer. There are several return forms that you have to be familiar with when it comes to the purchase or sale of a property, or shares in a Real Property Company RPC. I’m sure you would have a dissenting view on this?


By introducing the cumbersome formula for calculating the gains tax payable for any disposal, they seem to have their own interests in mind. This is the refiance charges for my existing house borrower: The Finance Act sets out the current prescribed tax rate as follows. He then sold 6 acres on 1. The certificate of non-chargeability is something new that the Inland Revenue Board IRB has introduced to confirm whether one is chargeable for tax. Using the cumbersome formula, the gain arrived at is 3, Instead of the cumbersome process given above, a simple formula: Sorry, your blog cannot share posts by email.

What you can do is to get the presentation receipt from the lawyer, go to the Land Office concerned, make friends with the people there, and try to chase the paperwork from one step to the other, eg from the Submission Clerk to the Chief Clerk, then to the respective sections which are involved in the processing, and finally to: Therefore, only the amount of cash paid is to be remitted to IRB. Hi Dario, sorry for the late reply. Please seek clarification from the lawyer.

However, you must inform your lawyer of such an intention before the sale and purchase agreement is drafted. So I will not have any other cost on this part rite? CKHT may also be downloaded. The seller may submit it at any time, i.

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