Are there any exemptions to rpgt

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

Are there any exemptions to RPGT?

Exemptions from RPGT is available under the following circumstances:

· an amount of RM5,000 or 10% of the chargeable gain, whichever is greater, accruing to an individual;

· a gain arising on disposal as a result of compulsory acquisition of property under law;

· a gain accruing to the Government, State Government or a local authority;

· a gain accruing to an individual who is a citizen or a permanent resent in respect of the disposal of one private residence;

· a gain accruing to a wife who is a citizen or permanent resident but whose husband is neither a citizen nor a permanent resident, in respect of the disposal on one private residence owned by the wife;

· a gift made to the Government, State Government, local authority or approved charity;

· mergers of banks and finance companies concluded between 24 October 1998 and 31 December 1999;

· mergers of insurance companies concluded between 1 April 1999 and 30 September 2000;

· mergers of stockbroking firms concluded between 30 October 1999 and 31 December 2000;

· securitisation of assets from 30 October 1999 to 31 December 2000.

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