Hope someone can help me on this,

i have a land that inherit from my parent, if i sell it after one year, my question as below:

1)will i need to pay rpgt

2)how to calculate the tax

yes, inherit also kena.
Must be five years and 1 day then only you can escape.

as for calculate go google for the table ,
good luck

Disposal within 2 years 30%

Disposal in the 3rd year 20%

Disposal in the 4th year 15%

Disposal in the 5th year 5%

Disposal in the 6th and subsequent years 0%

since my land from inherit so what is the cost,

1)how they calculate the cost?

2)will they use my cost as zero?

This post has been edited by clicktiming: Jun 20 2010, 09:51 AM

nope, they will use your papa's purchase price.
nothing runs away from them, use logic.
What you think of they have done R&D
so its gonna be taxed all angled.

but you can acculate all the cost your papa and you have done with the land , i.e maintenance , repair , reno, loyar fee , agent fee etc etc this can bring down the cost.

RPGT has been revised to fixed rate for 5 years upon purchase. No more varying rates.

so they won't user zero as my cost, my i right?

since the land about 70 years old from my parent, then they will use very low cost?

current rpgt rate flat to 5% ?

This post has been edited by clicktiming: Jun 20 2010, 11:49 AM

in this scenario, in order to escape from RPGT, does it mean TS has to hold it for 5 years (upon inheritance)? or the 5 years is already over (because the 5 year of TS's father purchase)?

For RPGT issue, please refer/post here.
http://forum.lowyat.net/topic/1203725/+100

ty