What are chargeable gains and losses

Related Topics: | Tax Advice | Real Property Gains Tax |

What are chargeable gains and losses?

A chargeable gain arises if the disposal price exceeds the acquisition price and an allowable loss is incurred if the disposal price is less than the acquisition price. Allowable losses are available to be carried forward for relief against future RPGT liabilities. A loss arising from the disposal of RPC shares does not qualify as an allowable loss.

Rates of tax

Category of disposal	Companies	Individuals & other persons
years	%	%
Disposal within 2 years	30	30
Disposal in 3^rd year	20	20
Disposal in 4^th year	15	15
Disposal in 5^th year	5	5
Disposal in 6^th and subsequent	5	Nil

Disposal of assets on or after 17 October 1997 by an individual who is not a citizen or permanent resident are subject to tax at the following rates:

Category of disposal

Rate (%)

Disposal within 5 years

Disposal in 6^th and subsequent years

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