A BLUEPRINT FOR SUCCESS

Consisting of a waterfront shopping mall, 5-star luxury hotel, resort homes and a 1.2km boardwalk, the Kota Kinabalu City Waterfront is an integrated waterfront revitalization master plan to transform Kota Kinabalu into a premium tourist gateway and a premier second home destination.

A BLUEPRINT FOR SUCCESS

Consisting of a waterfront shopping mall, 5-star luxury hotel, resort homes and a 1.2km boardwalk, the Kota Kinabalu City Waterfront is an integrated waterfront revitalization master plan to transform Kota Kinabalu into a premium tourist gateway and a premier second home destination.

real property
gain tax (rpgt)

Prior to its abolishment, the chargeable gains arising from the disposal of any land situated in Malaysia or any interest, option or other right in or over such land or the disposal of shares in a 'real property company' is subject to RPGT.

Chargeable persons
Previously, every person whether or not resident in Malaysia is chargeable to RPGT in respect of any gains accruing on the disposal of real property in Malaysia

Rates of tax



Acquisition & Disposal of Chargeable Assets (Real Property)
Chargeable gain or allowable loss is the difference between the disposal price and the acquisition price on the disposal of a real property

Acquisition price includes:
Consideration per SPA

Plus:
Incidental costs which include

  • Fees, commission or remuneration paid for professional services of surveyor, valuer, accountant, agent or legal adviser
  • Cost of transfer including stamp duty
  • Cost of advertising to find seller
  • Interest paid on capital employed to acquire the property where such a claim has not been made under income tax for rental income

Less:

  • Compensation for damages to the asset
  • Receipts under an insurance policy for damages to the property
  • Deposits forfeited in respect of the property

Disposal price includes
Sale consideration

Less:
Incidental costs, which includes

  • Fees, commission or remuneration paid for professional services of surveyor, valuer, accountant, agent or legal adviser
  • Cost of transfer including stamp duty
  • Cost of advertising to find seller

Less:

  • Expenditure incurred on the asset at any time after its acquisition for the purpose of enhancing or preserving the value of asset ( includes renovations)
  • Expenditure incurred in establishing, preserving or defending the owner's title or a right over the asset

Administration Form Filing

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