Puan Haslinda, a citizen and an active investor in real properties and the stock market in...
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Puan Haslinda, a citizen and an active investor in real properties and the stock market in Malaysia. Due to some personal issues, Puan Haslinda is decided to migrate to Indonesia. Therefore, she wishes to dispose of one of her houses in Malaysia that was bought on June 2016. However, she is unsure on the tax mechanism to be applied upon the disposal. Currently, she is considering a number of options as follows: i. transferred it to her daughter, Huwaida on 10 June 2019 ii. disposed to her friend, Lubna (resident) on 1 December 2019 iii. transferred to LLP Sdn Bhd, a manufacturer of canned foods. LLP Sdn Bhd owned by Haslinda, Lufty (her brother) and Putri (her sister). Required: Suggest with justification to Puan Haslinda for the best option to be chosen on the disposal of real property in accordance with Real Property Gains Tax Act 1976. Puan Haslinda, a citizen and an active investor in real properties and the stock market in Malaysia. Due to some personal issues, Puan Haslinda is decided to migrate to Indonesia. Therefore, she wishes to dispose of one of her houses in Malaysia that was bought on June 2016. However, she is unsure on the tax mechanism to be applied upon the disposal. Currently, she is considering a number of options as follows: i. transferred it to her daughter, Huwaida on 10 June 2019 ii. disposed to her friend, Lubna (resident) on 1 December 2019 iii. transferred to LLP Sdn Bhd, a manufacturer of canned foods. LLP Sdn Bhd owned by Haslinda, Lufty (her brother) and Putri (her sister). Required: Suggest with justification to Puan Haslinda for the best option to be chosen on the disposal of real property in accordance with Real Property Gains Tax Act 1976.
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Answer rating: 100% (QA)
Puan Haslinda should consider the following when choosing the best option for the disposal of her real property 1 The type of property disposal whether it is a sale transfer or gift 2 The type of prop... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
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