State any matters to be neglected in determining compensation as stipulated in the Land Acquisition Act 1960 (Amended)

• the degree of urgency which has led to the acquisition;

• any disinclination of the person interested to part with the land acquired;

• any damage sustained by the person interested which, if caused by a private person, would not be a good cause of action;

• any depreciation in the value of the land acquired likely to result from the use to which it will be put when acquired

• any increase to the value of the land acquired likely to accrue from the use to which it will be put when acquired

Explain the provision of exemption as stipulated under Schedule 4 in Real Property Gain Tax Act 1976 (amended);

• Gain accrued before Act came into force

• Permitted allowance for an amount of RM10,000 OR 10% of chargeable gain, whichever is greater.

• Permitted allowance for an amount of RM100,000 OR 10% of chargeable gain, whichever is greater.

• A gain accruing to the government

• Gain equal to amount of estate duty (where disposer is compelled to dispose property in order to pay estate duty.

5 years ago, Ismail Sabri bought a double-storey detached house at market value of RM900,000. He bought through an estate agent and a lawyer which cost him RM28,000 and also paid stamp duty for the transaction.

A year after his occupation, he paid an interior designer to renovate the house for RM28,000. Early last year an uncontrolled fire occurred in the kitchen and cause his house severe damage. He claimed for damages and was awarded RM10,000. After few months of the tragedy, he decided to sell the house and manage to get a prospective buyer who paid RM5,000 as an earnest money. Unfortunately, the buyer did not manage to secure a bank loan and the deposit is forfeited.

Calculate the stamp duty payable by Ismail Sabri when he purchased the property.

• Total SD RM20,000

• Total SD RM22,000

• Total SD RM21,000

• Total SD RM23,000

• Total SD RM24,000

•In determining the amount of compensation to be awarded for any scheduled land acquired under this Act the following matters shall not be taken into consideration:

• the degree of urgency which has led to the acquisition;

• any disinclination of the person interested to part with the land acquired;

• any damage sustained by the person interested which, if caused by a private person, would not be a good cause of action;

The market value as determined in accordance with section 1 of this Schedule;

• •date of publication in the Gazette, under Section 4, within 10 months followed by a declaration under Section 8.

• •date of publication in the Gazette, under Section 8, within 12 months followed by a declaration under Section 4.

• •date of publication in the Gazette, under Section 4, within 12 months followed by a declaration under Section 8.

• •date of publication in the Gazette, under Section 4, within 12 months followed by a declaration under Section 8a.

In determining the amount of compensation to be awarded for any scheduled land acquired under this Act there shall be taken into consideration the following matters and no others:-

• Market value

• Betterment

• Severence

• Disturbance Claims

• Accommodation works

•If the market value of any scheduled land has been increased, or is currently increased, in either of the following ways, such increase shall be disregarded:

• any improvement has been made within two years before the declaration under section 8 was published, unless the improvement was made bona fide; and

• contrary to law or detrimental to health of the public.

• any improvement has been made within one year before the declaration under section 8 was published, unless the improvement was made bona fide; and

(3A) The value of any building on any land to be acquired shall be disregarded if that building is not permitted by virtue of

• the category of land use

• an express or implied condition or restriction

• the value of land use

• the neighborhoods of land use

Cost Of Reinstatement......

•Refers to properties with the following characteristics:

• no general demand

• such use must continue if not for the acquisition

• a bona fide intention to purchase other land devoting it to the same purpose

WHAT is Estate Land?

• Land which is considered as an estate land (Section 214A NLC), the market value shall not in any way be affected by the fact that it can be sold to one person. The constraint of this section to be taken into account and the compensation will be based on the cost of an estate.

• Land which is considered as an estate land (Section 214A NLC), the rental value shall not in any way be affected by the fact that it can be sold to one person. The constraint of this section to be taken into account and the compensation will be based on the price of an estate.

• Land which is considered as an estate land (Section 214A NLC), the market value shall not in any way be affected by the fact that it can be sold to one person. The constraint of this section to be taken into account and the compensation will be based on the value of an estate.

• Land which is considered as an estate land (Section 214A NLC), the price value shall not in any way be affected by the fact that it can be sold to one person. The constraint of this section to be taken into account and the compensation will be based on the loss of an estate.