Real Property Gains Tax (Exemption) Order 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 –
  1. The individual who is the disposer must be a Malaysian citizen;
  2. The disposal is made in the sixth year after the date of acquisition of such chargeable asset or any year thereafter; and
  3. 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