Stella is a Malaysian citizen, and her brother, Steve, had originally owned 50,000 shares of RM2.00 each in Suria Sdn Bhd since incorporation. Suria Sdn Bhd was not a real property company. On 1 March 2017, she purchased a shophouse for RM350,000. Later, she decided to transfer the shophouse to Suria Sdn Bhd on 1 March 2020 at a sum of RM480,000 consisting of 200,000 shares of RM2 each and the balance in money payment. The market value of the shophouse was RM420,000 at the date of transfer. As a result of the transfer, Stella held 250,000 shares of RM2.00 each at Suria Sdn. Bhd.

Subsequently, Stella decided to dispose of 100,000 shares acquired by her on the transfer of the shophouse to Suria Sdn Bhd and 50,000 shares originally owned by her on the date of

incorporation for RM3 per share on 1 December 2020.

Required:

(i) Calculate the RPGT payable (if any) on the transfer of the shophouse by Stella to Suria Sdn Bhd in the year assessment 2020. 

(ii) Calculate the RPGT (if any) on the disposal of 100,000 shares by Stella. 

(iii) Calculate the RPGT (if any) on the disposal of 50,000 shares by Stella.

Answer rating: 100% (QA)

Question 1 The RPGT payable on the transfer of the shophouse by Stella to Suria Sdn Bhd in the year assessment 2020 is RM14000 Stella originally owned ... View the full answer