Q.
The determination of rates payable by owner of particular holding depends on the value computed by a valuer. The valuer may take into account the expected income from the premises or the market value. Explain this statement in the context of Local Government Act 1976 (as amended).
(25 marks, 2013 Q1)
Showing posts with label 2013 D04 Tax. Show all posts
Showing posts with label 2013 D04 Tax. Show all posts
Wednesday, February 4, 2015
Annual Value Q2
Q.
The definition of Annual Value under Section 2 of the Local Government Act 1976 (Act 171) (as amended) is very detail. By using adequate valuation examples, elaborate what is Annual Value.
(25 marks, 2013 Q2)
The definition of Annual Value under Section 2 of the Local Government Act 1976 (Act 171) (as amended) is very detail. By using adequate valuation examples, elaborate what is Annual Value.
(25 marks, 2013 Q2)
Why Development Charge KL Q3
Q.
Explain why development charge is levied to the landowner/developer in Kuala Lumpur.
(25 marks, 2013 Q3)
Explain why development charge is levied to the landowner/developer in Kuala Lumpur.
(25 marks, 2013 Q3)
Town and Country Planning Act land acquisition Q4
Q.
Discuss the circumstances whereby the landowner is permitted under the Town and Country Planning Act 1976 (as amended) to serve a notice to the local authority to acquire his land.
(25 marks, 2013 Q4)
Discuss the circumstances whereby the landowner is permitted under the Town and Country Planning Act 1976 (as amended) to serve a notice to the local authority to acquire his land.
(25 marks, 2013 Q4)
Factors affecting premium on land alienation Q5
Q.
a) Land alienation premium is determined by the State Authority upon approval of land alienation to either individual or body. The calculation of premium depends on five (5) main factors. Using appropriate examples, explain the above factors. (10 marks)
b) Additional premium will be imposed if the State Authority approved a number of categories of application. Clarify the meaning of additional premium and explain the situations where additional premium is imposed. (15 marks)
(15 marks, 2013 Q5)
a) Land alienation premium is determined by the State Authority upon approval of land alienation to either individual or body. The calculation of premium depends on five (5) main factors. Using appropriate examples, explain the above factors. (10 marks)
b) Additional premium will be imposed if the State Authority approved a number of categories of application. Clarify the meaning of additional premium and explain the situations where additional premium is imposed. (15 marks)
(15 marks, 2013 Q5)
Capital Allowance & Deductible Expenses Q6
Q.
a) Capital allowance is an allowance allowed by the Inland Revenue Board to replace the fixed asset depreciation deductible from the gross business income. Explain two (2) following components of capital allowance:
(10 marks)
b) Income arising from property, movable or immovable, situated in Malaysia is taxable under Section 4(d) of the Income Tax Act 1967 (as amended). Rental income has always been considered as a non-business source.
Using appropriate examples, explain what are the deductible expenses from rental income. (15 marks)
(25 marks, 2013 Q6)
a) Capital allowance is an allowance allowed by the Inland Revenue Board to replace the fixed asset depreciation deductible from the gross business income. Explain two (2) following components of capital allowance:
- Initial allowance
- Yearly allowance
(10 marks)
b) Income arising from property, movable or immovable, situated in Malaysia is taxable under Section 4(d) of the Income Tax Act 1967 (as amended). Rental income has always been considered as a non-business source.
Using appropriate examples, explain what are the deductible expenses from rental income. (15 marks)
(25 marks, 2013 Q6)
RPGT Kurunathan & Appeal Q7
Q.
Mr Kurunathan purchased a terrace factory building at Subang Jaya from Mrs Chan on 30 April, 2012 at a purchase price of 20% higher than the market value. Mrs Chan inherited the property from her father's estate in year 2006.
Mr Kurunathan then sold the terrace building to Mr Eric on 30 November, 2012. The market value of similar properties is at RM2,550,000. However, Mr Kurunathan sold the property for RM2,000,000 because he needed the money urgently to migrate to Australia.
a) Explain the property taxes involved in the above case. (15 marks)
b) If Mr Eric is not satisfied with the amount of duty to be paid, explain the actions that can be taken by him. (10 marks)
(25 marks, 2013 Q7)
Mr Kurunathan purchased a terrace factory building at Subang Jaya from Mrs Chan on 30 April, 2012 at a purchase price of 20% higher than the market value. Mrs Chan inherited the property from her father's estate in year 2006.
Mr Kurunathan then sold the terrace building to Mr Eric on 30 November, 2012. The market value of similar properties is at RM2,550,000. However, Mr Kurunathan sold the property for RM2,000,000 because he needed the money urgently to migrate to Australia.
a) Explain the property taxes involved in the above case. (15 marks)
b) If Mr Eric is not satisfied with the amount of duty to be paid, explain the actions that can be taken by him. (10 marks)
(25 marks, 2013 Q7)
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