Real Property Gains Tax (Exemption) Order 2018
28 December 2018
The Real Property Gains Tax (Exemption) Order 2018
, which was gazetted today, exempts an individual from payment of real property gains tax on the chargeable gain accruing on the disposal of a chargeable asset (excluding shares in a real property company) subject to the following conditions being fulfilled –
- The individual who is the disposer must be a Malaysian citizen;
- The disposal is made in the sixth year after the date of acquisition of such chargeable asset or any year thereafter; and
- The consideration for the disposal of the chargeable asset is not more than RM200,000/-.
This Order does not exempt an individual from the requirement to submit the relevant return under the Real Property Gains Tax Act 1976.
This Order comes into operation on 1 January 2019