On 8 April 2018, Maggie exchanged her residential house in Penang…

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Question On 8 April 2018, Maggie exchanged her residential house in Penang… On 8 April 2018, Maggie exchanged her residential house in Penang for Adrian’sshop house in Johor Baru. The market value of the residential house was determinedto be RM288,000 and the market value of the shop house at RM286,000. There wasno balance payment made.In connection with her disposal, Maggie incurred advertisement costs amounting toRN300. Adrian incurred legal fees amounting to RM4,300 in connection with thedisposal of his shop house.Maggie purchased her residential house for RM201,700 on 7 July 2013.Adrian had purchased his shop house for RM240,700 on 14 June 2013. He paidcommission to an agent amounting to RM3,000 in connection with the purchase.Required :a) Compute the RPGT payable by Maggie and gain subject to RPGT for Adrianrespectively.b) State what consideration would be taken for the disposal of the residentialhouse by Maggie if the asset received in exchange had no market value. Law Social Science Tax law Share QuestionEmailCopy link Comments (0)

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