On 8 April 2018, Maggie exchanged her residential house in Penang for Adrian's

shop house in Johor Baru. The market value of the residential house was determined

to be RM288,000 and the market value of the shop house at RM286,000. There was

no balance payment made.

In connection with her disposal, Maggie incurred advertisement costs amounting to

RN300. Adrian incurred legal fees amounting to RM4,300 in connection with the

disposal of his shop house.

Maggie purchased her residential house for RM201,700 on 7 July 2013.

Adrian had purchased his shop house for RM240,700 on 14 June 2013. He paid

commission to an agent amounting to RM3,000 in connection with the purchase. 

Required :

a) Compute the RPGT payable by Maggie and gain subject to RPGT for Adrian

respectively.

b) State what consideration would be taken for the disposal of the residential

house by Maggie if the asset received in exchange had no market value.

Answer rating: 100% (QA)

Calculating RPGT for Maggie and Gain for Adrian a RPGT for Maggie and Gain for Adrian Maggie Disposa... View the full answer