RPGT QUIZ

Belows are chargeable person for RPGT except....

• Cooperative

• Individual

• Company

• Partnership

Real property is defined as any land situated in Malaysia and any interest,option or other right in or over such land. Belows are deemed as land EXCEPT...

• Lake

• Apartment

• Mineral

• Harvested vegetation

Which are the item below are related to disposal price ?

• Compensation

• Built a new fence

• Stamp duty

• Insurance expenses

Which are the correct definition describe the chargeable gain (CG)

• Occurs when disposal price exceed acquisition price

• Occurs when acquisition price exceed disposal price

• Occurs when there is profit in the disposal transaction

• Occurs when there is loss in the disposal transaction

Choose statements that are related to the individual exemption.

• Gift from husband to wife

• RM10,000 or 10% of the chargeable gain, which is lower

• Gift to the government

• Once in a life time exemption

Belows are conditions required for once in a life time exemption EXCEPT....

• The election must be in writing

• Individual must ber citizenship and resident in Malaysia

• Only residential house is qualified for the exemption

• Husband and wife can elect for the exemption individually.

Which are the below conditions that deemed a disposal price at a market value

• Gift up upon the death of the donor

• Gift from parents to child

• Gift from the donor to a non Malaysian donee

• Pure gift to the government

Which are the following statements are no gain no loss transaction EXCEPT...

• Gift to the government

• Disposal due to compulsory acquisition

• Transfer between relatives

• Transfer due to security of the asset

Disposal date is effective according to the statement below EXCEPT...

• Date of agreement

• Date of memorandum of transfer

• Date of the contract

• Date of the last payment

Gift are considered as no gain no loss transaction under paragraph 12, Sch.2 RPGT Act 1976. Which statement below are not qualified for no gain no loss transaction ?

• Gift between spouses

• Gift between mother to daughter

• Gift between grandparent and grandchild

• Gift between deceased father to son