FOURTH SCHEDULE [Section 9] (Real Property Gains Tax Act 1976

Real Property Gains Tax Act 1976 (Act 169)

FOURTH SCHEDULE [Section 9]

EXEMPTIONS

1. A gain accruing in respect of the disposal of a chargeable asset before the date of coming into force of this Act.

2. An amount of five thousand ringgit or ten per cent of the chargeable gain, whichever is greater, in respect of a chargeable gain accruing to an individual on the disposal of a chargeable asset which is not or was not part of a larger chargeable asset at the time of the disposal:

Provided that in the case of a disposal by a co-proprietor of his share of the chargeable asset, such disposal shall not be regarded as a disposal of part of a larger chargeable asset for purposes of this paragraph.

[Am. Act. 328:s:24]

3. A gain accruing to the Government, a State Government or a local authority.

4. A gain equal to the amount of estate duty payable under any law relating to estate duty applicable in Malaysia on an estate of a deceased person accruing in respect of a disposal of a chargeable asset from that estate where the Director General is satisfied that the disposer is compelled to dispose the property in order to pay the estate duty.

[Am. Act. A431; Act. 241; 293:s:30; 323]