Choong on Real Property Gains Tax: Law & Practice
"With all the measures introduced, there are bound to arise legal issues... This is where Dr Choong's book comes handy. His simple style of writing yet with such clarity on the law and application, this book should be found in offices of professionals... I do not discount its valuable assistance to the Courts and taxing tribunals when presented with legal disputes related to real property gains tax."
Real property gains tax is charged on gains arising from the disposal of real property; and on disposal of shares in a real property company.
The reinstatement of tax on gains arising from disposal of real property during the Tabling of the 2010 amendments surprised many. Choong on Real Property Gains Tax: Law & Practice provides a detailed analysis of the workings of real property gains tax. The relevant legislation and technical aspects are discussed extensively with reference to case precedents and the use of numerous practical worked examples. Tax planning suggestions are incorporated to allow the reader to optimise the research presented in this book. The topics covered are:
- Deceased person
- Trustee and nominees
- Islamic transactions
- Tax administration
- Offence and appeals
- Tax recoveries
- Ministerial exemption
Leading RPGT cases are incorporated and these provide illustrations of the implementation of the law and provides completeness.
This reference book is a must in the library of tax practitioners, lawyers, corporate managers, accountants or indeed for anybody involved in real property transactions.
The law is stated as at 28 February 2014.
Table of contents
Chapter 1 Scope of Charge
Chapter 2 Acquisition Date and Disposal Date
Chapter 3 Acquisition Price
Chapter 4 Disposal Price
Chapter 5 Chargeable Gain and Allowable Loss
Chapter 6 Real Property Gain Tax Exemption for Individuals
Chapter 7 Real Property Gains Tax Exemption for Companies
Chapter 8 Deceased Persons
Chapter 9 Partnerships
Chapter 10 Lease and Option
Chapter 11 Trustees and Islamic Instruments
Chapter 12 Administration
Chapter 13 Limited Liability Partnership
Chapter 14 Offences, Penalties and Recoveries
Chapter 15 Appeals, Error or Mistake, Claims, Refund of Overpayments, Remissions of Tax
Chapter 16 RPGT Recovery
Chapter 17 Anti-avoidance
Chapter 18 Ministerial Exemptions