Chargeable Gain, Allowable Losses & Relief Q7

Q.
Real Property Gains Tax was re-imposed from 1 January, 2010. Using appropriate examples, explain the followings:

a) Chargeable gains (8 marks)

b) Allowable losses (7 marks)

c) Tax relief for allowable losses (10 marks)

(25 marks, 2012 Q7)