Q.
a) Real Property Gains Tax is imposed on conditional contract. Explain:-
The meaning of conditional contract. (5 marks)
How acquisition and disposal of asset is determined under conditional contract. (8 marks)
b) Mr Dollah intends to give a single storey bungalow located at Rawang as a present to his grand daughter Mona who has just competed her study at University of Sunderland, UK. Explain to Mr Dollah the situations where gifts are not subjected to tax whereby the scenario of "no gain no loss" is applicable. (12 marks)
(25 marks, 2014 Q5)
No comments:
Post a Comment