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Property Gain Tax

REAL PROPERTY GAINS
Real property gains are profits derived by way of disposal, sale, conveyance, assignment, transfer, settlement or alienation whether by agreement or by force of law which fall under chargeable assets.

CHARGEABLE ASSETS
The Real Property Gain Tax Act 1976 (Act 169) interprets chargeable asset as gains accruing on the disposal of any real property. Subject to this Act the chargeable gain from disposal of real property shall be in accordance with the Tax Rates in Ringgit Malaysia as per schedule 5 of the Act.

EXEMPTION
The following disposal of real property, which do not fall under Real Property Tax Act 1976

1. Transfer of ownership from husband to wife (wives) or vice versa.

2. Inheritance of real property from deceased and under a will or intestacy.

3. Transfer of ownership from an individual to a company where he or she has shares in the company.

4. Transfer of an asset as collateral for loan.

5. Compulsory acquisition by Government under any law.

6. Disposal of assets to a charity exempt from Income Tax.

TAX RATES

INDIVIDUAL OWNERSHIP (MALAYSIAN CITIZEN AND/OR PERMANENT RESIDENT)
Category of Disposal In Number of Years	Rate of Tax
Disposal within two (2) years after the date of acquisition	30%
Disposal in 3rd year after date of acquisition	20%
Disposal in 4th year date of acquisition	15%
Disposal in 5th year after date of acquisition	5%
Disposal in 6th year after date of acquisition or thereafter	Nil

COMPANY OWNERSHIP
Category of Disposal In Number of Years	Rate of Tax
Disposal within two (2) years after the date of acquisition	30%
Disposal in 3rd year after date of acquisition	20%
Disposal in 4th year date of acquisition	15%
Disposal in 5th year after date of acquisition	5%

INDIVIDUAL OWNERSHIP (NON-CITIZEN AND/OR NON-PERMANENT RESIDENT)
Category of Disposal In Number of Years	Rate of Tax
Disposal within 5 years after date of acquisition	30%
Disposal in 6th year after date of acquisition or thereafter	5%

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