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RPGT Calculator Tutorial for Malaysia

The document is an online tutorial quiz about Real Property Gains Tax (RPGT) in Malaysia. It contains 8 multiple choice questions related to calculating disposal price, acquisition price, RPGT rates, and identifying basic details like the year of disposal for different scenarios involving the sale of residential properties in Malaysia. The last question was answered correctly, identifying the year of disposal as 2019. The overall grade for the quiz was 68%.

Uploaded by

CC HOD AHOD W-Week 2020
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
72 views14 pages

RPGT Calculator Tutorial for Malaysia

The document is an online tutorial quiz about Real Property Gains Tax (RPGT) in Malaysia. It contains 8 multiple choice questions related to calculating disposal price, acquisition price, RPGT rates, and identifying basic details like the year of disposal for different scenarios involving the sale of residential properties in Malaysia. The last question was answered correctly, identifying the year of disposal as 2019. The overall grade for the quiz was 68%.

Uploaded by

CC HOD AHOD W-Week 2020
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

Online Tutorial RPGT 16/06/2021, 4:08 PM

Home / My courses / CIA2006 / W8 to W10 Capital Taxes / Online Tutorial RPGT

Started on Tuesday, 15 June 2021, 9:44 PM


State Finished
Completed on Tuesday, 15 June 2021, 10:11 PM
Time taken 26 mins 23 secs
Grade 15.00 out of 22.00 (68%)

Question 1
Rokiah, a Malaysian resident, sold her fully-furnished house in Cheras to
Correct
Sahak, a Malaysian resident, for RM959132.3 on 1 August 2020. There was
Mark 1.00 out of no written agreement and the consideration was fully paid on 15 May 2020.
1.00
The market value of the house was RM{MV}.

Rokiah purchased the house on 16 February 2015 for RM517507.7. Prior to


the disposal of the house Rokiah incurred stamp duty amounting to
RM81661.1 on the purchase. In March 2019, she received a deposit of
RM50005.8 from Saloma, who later called off the deal, this resulted her
deposit being forfeited.

Required:

Compute the disposal price in relation to the disposal by Rokiah.


Note: Only put numbers and decimal points in the answer box, no
letters or comma, so format acceptable by spectrum is 0000000.00

Answer: 959132.3 !

The correct answer is: 959132.3

[Link] Page 1 of 14
Online Tutorial RPGT 16/06/2021, 4:08 PM

Question 2
Rokiah, a Malaysian resident, sold her fully-furnished house in Cheras to
Correct
Sahak, a Malaysian resident, for RM958261.5 on 1 August 2020. There was
Mark 1.00 out of no written agreement and the consideration was fully paid on 15 May 2020.
1.00
The market value of the house was RM{MV}.

Rokiah purchased the house on 16 February 2015 for RM519319.5. Prior to


the disposal of the house Rokiah incurred stamp duty amounting to
RM88617.0 on the purchase. In March 2019, she received a deposit of
RM50197.6 from Saloma, who later called off the deal, this resulted her
deposit being forfeited.

Required:
Compute the acquisition price in relation to the disposal by Rokiah.

Note: Only put numbers and decimal points in the answer box, no
letters or comma, so format acceptable by spectrum is 0000000.00

Answer: 557738.9 !

The correct answer is: 557738.90

Question 3
How much is the penalty rate for late payment of RPGT?
Correct

Mark 1.00 out of


1.00
Select one:
a. 10%
!
b.
3%

c. 15%

d.
5%

The correct answer is: 10%

[Link] Page 2 of 14
Online Tutorial RPGT 16/06/2021, 4:08 PM

Question 4
Jenny Tan disposed her Petaling Jaya house to Kumar for RM500,000,
Incorrect
payable in cash of RM100,000 and the balance in shares.
Mark 0.00 out of
1.00

How much should Kumar, as an acquirer, withhold?

Select one:
a. RM339,000

b. RM15,000

c. RM356,000

d. None"

The correct answer is: RM15,000

Question 5
Kenny sold his house for RM522,000 on 1 June 2019 and incurred agents
Correct
fees of RM10,440 on the disposal. The house had been bought on 20 March
Mark 1.00 out of
1.00
2017 for RM385,000. Kenny has incurred stamp duty amounting to RM6,700
on the purchase. In 2018, he built an extension to the house costing
RM52,660. In March 2019 he received a deposit of RM30,000 from an
intended buyer who later called of the deal, thus forfeiting his deposit.
How much is the disposal price?

Select one:
a. RM458,900
!
b. RM522,000

c. RM511,560

The correct answer is: RM458,900

Question 6
Kenny sold his house for RM522,000 on 1 June 2019 and incurred agents
Correct
fees of RM10,440 on the disposal. The house had been bought on 20 March
Mark 1.00 out of
1.00
2017 for RM385,000. Kenny has incurred stamp duty amounting to RM6,700
on the purchase. In 2018, he built an extension to the house costing
[Link] Page 3 of 14
Online Tutorial RPGT 16/06/2021, 4:08 PM

on the purchase. In 2018, he built an extension to the house costing


RM52,660. In March 2019 he received a deposit of RM30,000 from an
intended buyer who later called of the deal, thus forfeiting his deposit.
How much is the acquisition price?

Select one:
a. RM361,700
!
b. RM385,000

c. RM315,200

The correct answer is: RM361,700

Question 7
Kenny sold his house for RM522,000 on 1 June 2019 and incurred agents
Correct
fees of RM10,440 on the disposal. The house had been bought on 20 March
Mark 1.00 out of
1.00
2017 for RM385,000. Kenny has incurred stamp duty amounting to RM6,700
on the purchase. In 2018, he built an extension to the house costing
RM52,660. In March 2019 he received a deposit of RM30,000 from an
intended buyer who later called of the deal, thus forfeiting his deposit.
How much is the RPGT rate?

Select one:
a. 30%
!
b. 15%

c. 5%

d. 20%

The correct answer is: 30%

Question 8
Kenny sold his house for RM522,000 on 1 June 2019 and incurred agents
Correct
fees of RM10,440 on the disposal. The house had been bought on 20 March
Mark 1.00 out of
1.00
2017 for RM385,000. Kenny has incurred stamp duty amounting to RM6,700
on the purchase. In 2018, he built an extension to the house costing
RM52,660. In March 2019 he received a deposit of RM30,000 from an
intended buyer who later called of the deal, thus forfeiting his deposit.

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Online Tutorial RPGT 16/06/2021, 4:08 PM

In what year did the disposal happened?

Select one:
a. 4

b. !
3

c. 2

d. 5

The correct answer is: 3

Question 9
Kenny sold his house for RM522,000 on 1 June 2019 and incurred agents
Incorrect
fees of RM10,440 on the disposal. The house had been bought on 20 March
Mark 0.00 out of
1.00
2017 for RM385,000. Kenny has incurred stamp duty amounting to RM6,700
on the purchase. In 2018, he built an extension to the house costing
RM52,660. In March 2019 he received a deposit of RM30,000 from an
intended buyer who later called of the deal, thus forfeiting his deposit.

How much is the Schedule 4 exemption?

Select one:
a. RM14,986

b. RM10,000

c. RM13,700

d. RM9,720"

The correct answer is: RM10,000

[Link] Page 5 of 14
Online Tutorial RPGT 16/06/2021, 4:08 PM

Question 10
On 12 March 2017, Kugan signed a sales and purchase agreement to acquire
Correct
a piece of land for RM250,000. He incurred the following expenses on the
Mark 1.00 out of
1.00
acquisition of the land.
RM
Stamp duty 4,000
Legal fees 1,980
Drainage and irrigation systems 13,500
Fencing 5,600
Legal fees to defend title of land 27,000

On 8 February 2019, she disposed of the land for RM677,000. Her


expenditure related to the disposal are as follows.
RM
Agent fees 16,500
Advertising sale 2,500
Valuation fees 1,000

How much is the disposal price?

Select one:
a. RM630,900

b. RM610,900
!
c. RM677,000

The correct answer is: RM610,900

Question 11
On 12 March 2017, Kugan signed a sales and purchase agreement to acquire
Correct
a piece of land for RM250,000. He incurred the following expenses on the
Mark 1.00 out of
1.00
acquisition of the land.
RM
Stamp duty 4,000

[Link] Page 6 of 14
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Stamp duty 4,000


Legal fees 1,980
Drainage and irrigation systems 13,500
Fencing 5,600
Legal fees to defend title of land 27,000

On 8 February 2019, she disposed of the land for RM677,000. Her


expenditure related to the disposal are as follows.
RM
Agent fees 16,500
Advertising sale 2,500
Valuation fees 1,000

How much is the acquisition price?

Select one:
a. RM250,000

b. RM255,980
!
c. RM259,480

The correct answer is: RM255,980

Question 12
On 12 March 2017, Kugan signed a sales and purchase agreement to acquire
Correct
a piece of land for RM250,000. He incurred the following expenses on the
Mark 1.00 out of
1.00
acquisition of the land.
RM
Stamp duty 4,000
Legal fees 1,980
Drainage and irrigation systems 13,500
Fencing 5,600
Legal fees to defend title of land 27,000

On 8 February 2019, she disposed of the land for RM677,000. Her

[Link] Page 7 of 14
Online Tutorial RPGT 16/06/2021, 4:08 PM

expenditure related to the disposal are as follows.


RM
Agent fees 16,500
Advertising sale 2,500
Valuation fees 1,000

How much is the RPGT rate?

Select one:
a. 30%
!
b. 20%

c. 5%

d. 15%

The correct answer is: 30%

Question 13
On 12 March 2017, Kugan signed a sales and purchase agreement to acquire
Correct
a piece of land for RM250,000. He incurred the following expenses on the
Mark 1.00 out of
1.00
acquisition of the land.
RM
Stamp duty 4,000
Legal fees 1,980

Drainage and irrigation systems 13,500


Fencing 5,600
Legal fees to defend title of land 27,000

On 8 February 2019, she disposed of the land for RM677,000. Her


expenditure related to the disposal are as follows.

RM
Agent fees 16,500
Advertising sale 2,500
Valuation fees 1,000

[Link] Page 8 of 14
Online Tutorial RPGT 16/06/2021, 4:08 PM

In what year did the disposal happened?

Select one:
a. !
2

b. 4

c. 5

d. 3

The correct answer is: 2

Question 14
On 12 March 2017, Kugan signed a sales and purchase agreement to acquire
Incorrect
a piece of land for RM250,000. He incurred the following expenses on the
Mark 0.00 out of
1.00
acquisition of the land.
RM
Stamp duty 4,000
Legal fees 1,980
Drainage and irrigation systems 13,500
Fencing 5,600
Legal fees to defend title of land 27,000

On 8 February 2019, she disposed of the land for RM677,000. Her


expenditure related to the disposal are as follows.
RM
Agent fees 16,500
Advertising sale 2,500
Valuation fees 1,000

[Link] Page 9 of 14
Online Tutorial RPGT 16/06/2021, 4:08 PM

How much is the schedule 4 exemption?

Select one:
a. None of the above

b. RM42,700

c. Rm10,000"

d. RM35,492

The correct answer is: RM35,492

Question 15
On 15 April 2019, Li Lian signed a sale and purchase agreement to acquire a
Correct
house for RM250,000. She made full payment of the purchase price on 13
Mark 1.00 out of July 2019 and took possession of the house on 14 July 2019. The title to the
1.00
house was transferred to her on 13 October 2019.
State the date of the acquisition of the house

Select one:
a. 14 July 2019

b. 15 April 2019
!
c. 13 October 2019

d. 13 July 2019

The correct answer is: 15 April 2019

Question 16
Li Lian made full payment of the purchase price of a house on 13 July 2019
Correct
and took possession of the house on 14 July 2019. The title to the house was
Mark 1.00 out of transferred to her on 13 October 2019.
[Link] Page 10 of 14
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Mark 1.00 out of transferred to her on 13 October 2019.


1.00
State the date of the acquisition of the house

Select one:
a. 13 July 2019
!
b. 14 July 2019

c. 15 April 2019

d. 13 October 2019

The correct answer is: 13 July 2019

Question 17
On 11.9.2016, Aishah a Malaysian citizen bought a piece of land (Land A) in
Correct
Malacca and then disposed of it on 20.5.2019 and incurred allowable loss of
Mark 1.00 out of RM70,000. On 2.5.2012, Aishah bought another piece of land (Land B) in
1.00
Malacca and disposed of it on 10.7.2019 for RM600,000. This land had a
chargeable gain of RM257,000.
How much is the allowable loss for Aishah after 2012?

Select one:
a. Nil
!
b. RM70,000

The correct answer is: Nil

Question 18
On 11.9.2016, Aishah a Malaysian citizen bought a piece of land (Land A) in
Incorrect
Malacca and then disposed of it on 20.5.2019 and incurred allowable loss of
Mark 0.00 out of RM70,000. On 2.5.2012, Aishah bought another piece of land (Land B) in
1.00
Malacca and disposed of it on 10.7.2019 for RM600,000. This land had a
chargeable gain of RM257,000.

How much is the chargeable gain for land B?

Select one:
a. RM257,000

b. RM187,000"
[Link] Page 11 of 14
Online Tutorial RPGT 16/06/2021, 4:08 PM

b. RM187,000"

c. Nil

d. RM161,300

The correct answer is: RM161,300

Question 19
On 1.10.2011, Syakir bought a one-bedroom terrace house in Shah Alam and
Incorrect
disposed of the house on 15.10.2017. The allowable loss is RM17,000. On
Mark 0.00 out of 14.7.2019, Shakir disposed of a terrace house in Petaling Jaya and the house
1.00
was purchased by Shakir on 2.3.2012. Chargeable gain from the disposal is
RM356,000.

How much is the chargeable gain that will be subjected to tax?

Select one:
a. RM339,000

b. RM356,000"

c. None

d. RM17,000

The correct answer is: RM339,000

Question 20
Chargeable gain before any exemptions is RM10,500.
Not answered

Marked out of
1.00 If the person is eligible for schedule 4 exemption, how much is the
exemption?

Select one:
a. RM10,500

[Link] Page 12 of 14
Online Tutorial RPGT 16/06/2021, 4:08 PM

b. RM1,575

c. RM10,000 AP

d. RM1,500 AP

DP

The correct answer is: RM10,000


DP

AP

Question 21
Chargeable gain beforeAP
any exemptions is RM100,500.
Incorrect

Mark 0.00 out of DP


1.00 If the person is eligible for schedule 4 exemption, how much is the
exemption? DP

Select one: DP
a. RM5,025
AP
b. RM1,005
AP [Link]
RM10,000"

d. RM10,050

The correct answer is: RM10,050

Question 22
Identify items that belong in the calculation of Acquisition Price (AP) and
Correct
Disposal Price (DP) by inserting AP and DP in the relevant box.
Mark 1.00 out of
1.00 Agent fees related to acquisition !

Compensation for damages !

Agent fees related to disposal !

Preserving value costs !

Insurance for damage !

Advertising to seller !

Renovation costs !

[Link] Page 13 of 14
Online Tutorial RPGT 16/06/2021, 4:08 PM

Defending title costs !

Advertising for buyer !

Deposit forfeited !

The correct answer is:


Identify items that belong in the calculation of Acquisition Price (AP) and
Disposal Price (DP) by inserting AP and DP in the relevant box.
Agent fees related to acquisition [AP]

Compensation for damages [AP]


Agent fees related to disposal [DP]

Preserving value costs [DP]

Insurance for damage [AP]


Advertising to seller [AP]

Renovation costs [DP]


Defending title costs [DP]

Advertising for buyer [DP]


Deposit forfeited [AP]

[Link] Page 14 of 14

Common questions

Powered by AI

The Schedule 4 exemption provides a tax relief on chargeable gains, which reduces the taxable amount during property disposal. This exemption decreases the fiscal responsibility of the seller, effectively lowering the total tax due based on the predetermined exempt amount, thereby affecting the net gains from the sale .

The forfeiture of a deposit impacts financial outcomes by allowing the seller to retain the deposit as compensation for a non-completion, potentially offsetting any losses or costs incurred. For the buyer, it represents a financial loss. However, from an RPGT perspective, the forfeited deposit does not impact the computation of the disposal price or the seller’s tax liabili9 ty, yet it affects the transaction outcome .

In property transactions, the disposal price is typically the actual consideration received from the buyer, excluding any forfeited deposits from previous buyers. Thus, if a potential buyer forfeits their deposit, this amount should not be included in the final disposal price calculation as it pertains to an unrealized transaction .

Agent fees and stamp duty are relevant expenses considered in determining the acquisition price of a property. They are added to the purchase price of the property to compute the total capital acquisition cost. For example, in property acquisitions, stamp duty expenses and fees incurred to acquire the property must be accounted for to accurately reflect the acquisition price .

Not having a written agreement in a property transaction might impact the clarity and determination of key considerations like payment dates and amounts, which are essential for RPGT assessments. This can lead to disputes and complications in calculating and verifying the accurate disposal price and potential tax obligations .

The holding period impacts RPGT rates as they are typically structured progressively, where shorter holding periods (e.g., within 5 years) incur higher tax rates to discourage speculative transactions, while longer holding periods are generally subject to reduced rates, encouraging long-term investment. This structure aligns with tax policies aiming to stabilize property markets .

Expenditure on property improvements, such as building extensions or renovations, increases the acquisition price as it contributes to the capital cost of the property. This expenditure can enhance the property's value, potentially affecting the disposal price by justifying a higher selling price. Thus, these improvements impact both initial purchase value and final selling price calculations .

Understanding RPGT penalty rates for late payment is vital for property sellers as it influences their fiscal planning and compliance. A penalty rate of 10% signifies a significant additional cost for late tax payment, emphasizing the need for timely payment to avoid unnecessary financial burdens .

The calculation of allowable loss is crucial in reporting as it offsets chargeable gains, reducing the amount subject to tax. Understanding and accurately calculating allowable losses are necessary for taxpayers to ensure they only pay taxes on net gains and can claim appropriate reliefs, thereby optimizing their tax liabilities .

Legal fees incurred during the acquisition of a property are added to the acquisition price, which increases the base cost of the property for RPGT purposes. Conversely, legal fees incurred during disposal can be deducted from the selling price to determine the net disposal price. Hence, legal fees serve to adjust the capital cost during acquisition and reduce the net gain during disposal .

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