Q.
With reference to the Stamp Act 1949 (As amended), calculate the stamp duty payable on the following cases;
(a) Kah Mah sold a piece of land with 6,000 square metre to Ah Lee in August 2014 for RM100.00 per square metre. Private valuer appointed by Ah Lee is of the opinion that the value is only RM85.00 per square metre. (5 marks)
(b) Ramasamy bought 5 hectares of land with development potential on March 2010 valued at RM250,000. He sold the said land to Mek Su for RM500,000 on October 2014 as estimated by a private valuer. The government valuer thereafter valued the land at RM750,000.
(c) A&W leased a 500 square metre of retail space in Lot 10 Shopping Complex at RM50.00 per square metre per month. It is a lease for a 5 year term commencing on the 1st January 2015. A&W has to pay maintenance fees of RM20.00 per square metre and assessment to Dewan Bandaraya Kuala Lumpur.
(25 marks, 2015 Q6)
A.
Ref:
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