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Real Property Gains Tax (Exemption) Order 2020

July 30, 2020News Articleadmin

Pursuant to the Real Property Gains Tax (Exemption) Order 2020 issued on 28-7-2020, with effect from 1-6-2020 until 31-12-2021, the disposal of not more than 3 residential properties by a Malaysian citizen will be exempted from paying Real Property Gains Tax subject to the followings:

  1. the property to be disposed of is not acquired by way of transfer between spouses, or gift between spouses, parent and child or grandparent and grandchild within the period from 1-6-2020 and 31-12-2021;
  2. the sale and purchase agreement is executed on or after 1-6-2020 but not later than 31-12-2021 and stamped not later than 31-1-2022; and
  3. if the properties disposed of is more than 3 units, the disposer may elect 3 units out of the properties disposed of;
  4. for conditional contract which requires the approval by Federal Government or State Government, the contract shall be executed on or after 1-6-2020 but not later than 31-2021 and stamped not later than 31-1-2022. The relevant approvals shall be obtained on or after 1-6-2020.

Click here to download the ➾ “PU(A)218 Real Property Gains Tax (Exemption) Order 2020“

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