A. Mohammad owned few real properties in Malaysia. The details of the transactions on the real properties owned by him are as follows: Apartment Mohammad purchased an apartment in April 2013 costing RM95,000. The incidental costs incurred on the purchased of the apartment was RM5,250. In June 2015, there was an offer from his friend to buy the apartment for RM140,000 whilst the market value is only RM120,000. Instead of selling the apartment to his friend, Mohammad transferred the properly to his sister who as a gift for her wedding. Determine whether Real Property Gains Tax (RPGT) is applicable upon disposal of the apartment and land made by Mohammad and calculate the RPGT Payable (if any).
A. Mohammad owned few real properties in Malaysia. The details of the transactions on the real properties owned by him are as follows: Apartment Mohammad purchased an apartment in April 2013 costing RM95,000. The incidental costs incurred on the purchased of the apartment was RM5,250. In June 2015, there was an offer from his friend to buy the apartment for RM140,000 whilst the market value is only RM120,000. Instead of selling the apartment to his friend, Mohammad transferred the properly to his sister who as a gift for her wedding.
Determine whether Real Property Gains Tax (RPGT) is applicable upon disposal of the apartment and land made by Mohammad and calculate the RPGT Payable (if any).
B. Angeline, a non-Malaysian citizen, but permanent resident of Malaysia, sold a house in which she had been residing up to the date of its disposal on 8 March 2016. The house was sold for RM378,000. It was purchased on 14 April 2013 for RM299,000. This is the only property Angeline has ever owned in Malaysia.
Required: Advise Angeline whether she is entitled to private residence exemption under Schedule 3 of the Real Property Gains Tax Act 1976 on the disposal of her house
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