(Re-Run Session) Real Property Gains Tax (RPGT)

INTRODUCTION

Whether it’s a property investor, an owner simply looking to sell his home to purchase a dream home or a corporate group engaging in a corporate restructuring exercise, it is important to be aware of all costs associated with a real estate transaction including Real Property Gains Tax (RPGT) in Malaysia.

RPGT is a form of capital gains tax levied on profits arising from the disposal of real property or Real Property Company (RPC) shares. Real property is defined to mean any land situated in Malaysia and any interest, option and other right in or over such land. The effect
of the definition of real property is that RPGT can be levied on interests or ownerships which  mount to less than a full title to the land.

COURSE OUTLINE

• Definition of Real Property and the imposition of Real Property Gains Tax (RPGT)

• The determination of Real Property Company (RPC) shares

• Acquisition Price and Disposal Price

• Exemptions available to individuals and companies

• Computation of RPGT

• Income Tax vs Real Property Gains Tax

• Market value of the property on 1 January 2013 as deemed acquisition price

• The obligations of the disposer and acquirer under the RPGT Act, 1976

• Case Studies

PROFILE(s)

Harvindar Singh is a Fellow of Chartered Association of Certified Accountants and is a member of the Malaysian Institute of Accountants (MIA) as well as the Chartered Tax Institute of Malaysia (CTIM). Harvindar was attached to the firms of PWC and E&Y as a tax consultant and is currently the Managing Partner of Harvey & Associates, a boutique firm that specialises in taxation consulting services as well as the Tax Partner in SCS Global Consulting (M) Sdn Bhd. Harvindar has more than 28 years of extensive experience in taxation advisory, transfer pricing documentation preparation, tax planning as well as tax audits and investigations and he serves as a Tax Specialist to numerous corporate entities such as SK International (M) Sdn Bhd and other MNEs and organisations. He is currently serving as the Chairman of the Editorial Board of the Budget Commentary and Tax Information Booklet which is produced jointly by MIA, CTIM and MICPA. Mr Harvindar is a Council Member of CTIM.