Encik Abdul Rahman is a wealthy car dealer whose business is located in Johor Baru. He transferred
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Question:
Encik Abdul Rahman is a wealthy car dealer whose business is located in Johor Baru. He transferred to his daughter, one of his condominiums on 1 July 2017. He had bought the condominium on 1 June 2014 for RM600,000. He incurred legal fees of RM12,000 and stamp duty of RM11,000 at the time of purchase. The market value of the property at the time of the transfer was RM800,000.
Required: What are the real property gains tax implications of the transfer of a condominium by Abdul Rahman to his daughter?
Related Book For
Accounting
ISBN: 978-1118608227
9th edition
Authors: Lew Edwards, John Medlin, Keryn Chalmers, Andreas Hellmann, Claire Beattie, Jodie Maxfield, John Hoggett
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