$($Question $2)($a$)$ Compare the Real Property Gain Tax $($RPGT$)$ implications on the following situation involving Golden Palm Estate Bhd$.$ Compute the RPGT where applicable. i$.$ A plantation estate land at Pekan, Pahang was acquired by the company on $1\mathrm{.}1\mathrm{.}2018$ at a cost of RM$350,000.$ On $7\mathrm{.}4\mathrm{.}2020,$ the plantation land was severely damaged, where the company received an insurance compensation of RM$400,000.(5$ marks$)$ ii$.$ A plantation estate land at Sitiawan, Perak was acquired by the company on $16\mathrm{.}3\mathrm{.}2015$ at a cost of RM$480,000.$ On $21\mathrm{.}9\mathrm{.}2023,$ the plantation land was damaged, and the company received an insurance compensation of RM$50,000.(2$ marks$)($b$)$ Justify the type of tax for each of the following situations transacted by Heritage Sdn Bhd$.$ Then, compute the RPGT for the situation applicable for RPGT only. i$.$ Due to drop in rubber commodity prices, Heritage Sdn Bhd shifted its core business focus from managing rubber plantations to engaging in real property trading and development. A plantation land at Dengkil, Selangor was transferred from a fixed asset plantation land to current asset development land. The land was acquired for RM$500,000$ on $16\mathrm{.}4\mathrm{.}2018$ and market value on $11\mathrm{.}12\mathrm{.}2021,$ the date of board of director's approval for the transfer, was RM$780,000.$ ii$.$ Heritage Sdn Bhd incurred construction costs of RM$3$ million to build a $15-$story building comprising $50$ apartment units on the land. Each apartment was sold for strata ownership to individual owners for RM$250,000$ each. All sales transactions were completed by $20\mathrm{.}4\mathrm{.}2024.($c$)$ Alex is a Malaysian citizen and Jezmyn is a Malaysian non$-$citizen. They are a married couple who co$-$own a $2-$story building in Kuala Lumpur. The first floor is used for their restaurant business and the second floor is used as the restaurant staff hostel.

The property was acquired on $7\mathrm{.}6\mathrm{.}2019$ for RM$600,000.$ Subsequently, on $23\mathrm{.}1\mathrm{.}2024,$ the building was sold for RM$1$ million.

Required:

i$.$ Identify the conditions to claim the RPGT exemption once in a lifetime.

$(4$ marks$)$

ii$.$ Compute the RPGT applicable to Alex and Jezmyn for the above disposal. Consider that Alex is entitled for RPGT exemption once in a lifetime and the buiding is equally valued by the respective floors.

$(7$ marks$)$