oopsi soli to all. Out of topic. Soli TS.
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RPGT for property disposed >1year, Can it be 0% if no profit made???
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Apr 5 2014, 03:10 PM
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All Stars
13,761 posts Joined: Jun 2011 |
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Apr 5 2014, 04:13 PM
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459 posts Joined: Dec 2007 |
QUOTE(Showtime747 @ Apr 5 2014, 01:17 PM) Bro, The article itself explained why there is clause25 and how it works. Not based on what essence which u have highlighted. Clause 25 have to be read in full and not interpreted part by part like what you have said. If u read again the clause and the article, you will find clause 25(1) ,25(2), and 25(3) are inter relate. The article actually reinforce my interpretation of Sec 25(2). I have highlighted the essence of anti-avoidance provision above. In what way do you think the article contradict my interpretation i have explained and shared enough. if you still want to maintain your believing, then i cannot stop you. But i will not changed mine. |
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Apr 5 2014, 04:20 PM
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4,258 posts Joined: Nov 2012 |
QUOTE(gunh @ Apr 5 2014, 04:13 PM) The article itself explained why there is clause25 and how it works. Not based on what essence which u have highlighted. Clause 25 have to be read in full and not interpreted part by part like what you have said. If u read again the clause and the article, you will find clause 25(1) ,25(2), and 25(3) are inter relate. Bro, inter related or not is not the question. That is technical. The question is we can't simply understate the disposal price for RPGT. LHDN can go after you if you have overdone.i have explained and shared enough. if you still want to maintain your believing, then i cannot stop you. But i will not changed mine. |
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Apr 5 2014, 04:24 PM
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1,801 posts Joined: Aug 2012 |
QUOTE(gunh @ Apr 5 2014, 10:14 AM) I'm not sure where you got your information substantiate from. I can even sell the house at Rm1 to someone I like and draft the S&P and get it legalised. What make you say I cannot sell the house below market price and Tax dept will come after me? I guess you are the one that should go to speak to your lawyer. You are indeed giving misleading information here. Since when i say cannot sell below market price?? |
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Apr 5 2014, 04:27 PM
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1,801 posts Joined: Aug 2012 |
QUOTE(gunh @ Apr 5 2014, 11:51 AM) Let say what you say is correct, 25(1) has not relation with 25(2), but in 25(2) which sentence specifically mentioned if we sell the asset below market value, LHDN will come after us? LHDN "MAY" come after, not "WILL"! I do agree hardly ppl will do such act or challenging the authority..... but if there is such an act taken, u mean the authority got no rights to take any action against both party, jus because both party already signed SPA at an agree price of RM1?? This post has been edited by AppreciativeMan: Apr 5 2014, 04:37 PM |
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Apr 5 2014, 06:33 PM
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459 posts Joined: Dec 2007 |
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Apr 5 2014, 08:08 PM
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1,801 posts Joined: Aug 2012 |
QUOTE(gunh @ Apr 5 2014, 06:33 PM) I've made my point. If you read it positively then thats good. But you can always choose to read it negatively. You hav yet to make it clear..... And u r the who read my point negatively.....QUOTE I do agree hardly ppl will do such act or challenging the authority..... but if there is such an act taken, u mean the authority got no rights to take any action against both party, jus because both party already signed SPA at an agree price of RM1?? No answer to the above question? |
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Apr 5 2014, 08:57 PM
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459 posts Joined: Dec 2007 |
QUOTE(AppreciativeMan @ Apr 5 2014, 08:08 PM) You hav yet to make it clear..... And u r the who read my point negatively..... Is not up to you or me to say who read who negatively. QUOTE In legally binding contract, there must be an condition or you called it an offer and an acceptance. The RM1 is just an example. When someone made an offer, and another guy accepted it then the transaction will valid as the condition of an legal agreement is met. QUOTE I'll repeat..... If prop bought at 400k..... Now sold or transact at 300k...... Market valuation is at 700k...... Tax dept MAY NOT accept the 300k the transaction price for calculation of the RPGT..... They may hav or determine the 700k as market value for calculating the RPGT...... So does it consider they hav their own valuation? sweat.gif sweat.gif sweat.gif this sentence is refer to your post above. "What make you say I cannot sell the house below market price and Tax dept will come after me?" You may want to argue the word "MAY" and I have use "WILL". Ok, that's my mistake, but the point is noted here and by reading the post as whole and not few words. |
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Apr 5 2014, 09:10 PM
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6,747 posts Joined: Sep 2010 |
QUOTE(tikaram @ Apr 5 2014, 12:13 PM) Everyone pls be wise on some people info and advise. Especially on financial Dun cry like a baby, enufsome ppl just like to use name calling and attacking. https://forum.lowyat.net/topic/3182390/+100 |
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Apr 5 2014, 09:12 PM
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Apr 5 2014, 09:16 PM
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Apr 5 2014, 09:31 PM
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10,722 posts Joined: Nov 2011 |
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Apr 5 2014, 10:03 PM
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Apr 5 2014, 10:31 PM
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3,820 posts Joined: Jan 2009 From: Land of the Hornbills & Land Below the Wind |
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Apr 5 2014, 10:33 PM
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Apr 5 2014, 11:11 PM
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QUOTE(gunh @ Apr 5 2014, 08:57 PM) Is not up to you or me to say who read who negatively. I hav never mention doubt abt legality of the contract or SPA.....In legally binding contract, there must be an condition or you called it an offer and an acceptance. The RM1 is just an example. When someone made an offer, and another guy accepted it then the transaction will valid as the condition of an legal agreement is met. this sentence is refer to your post above. "What make you say I cannot sell the house below market price and Tax dept will come after me?" You may want to argue the word "MAY" and I have use "WILL". Ok, that's my mistake, but the point is noted here and by reading the post as whole and not few words. I mention..... LHDN reserve their rights to challenge the "under declare" transaction price... They come after their "income" not against the legality of transaction.... So the simple question "DO LHDN HAVE RIGHTS TO QUIRES YOUR TRANSACTED PRICE IF ITS WAY BELOW MARKET VALUE?".........A simple "YES" or "NO"....... u hav yet to answer this question after your challenging statement stating i provide misleading info.... |
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Apr 5 2014, 11:13 PM
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Apr 5 2014, 11:18 PM
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QUOTE(AppreciativeMan @ Apr 5 2014, 11:11 PM) I hav never mention doubt abt legality of the contract or SPA..... Chill boss.. I mention..... LHDN reserve their rights to challenge the "under declare" transaction price... They come after their "income" not against the legality of transaction.... So the simple question "DO LHDN HAVE RIGHTS TO QUIRES YOUR TRANSACTED PRICE IF ITS WAY BELOW MARKET VALUE?".........A simple "YES" or "NO"....... u hav yet to answer this question after your challenging statement stating i provide misleading info.... So both of your info is not wrong... |
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Apr 5 2014, 11:31 PM
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1,801 posts Joined: Aug 2012 |
QUOTE(edyek @ Apr 5 2014, 11:18 PM) Chill boss.. I'm still cool.... So both of your info is not wrong... I dont challenge something I'm not 100% sure.... nor i'll provide info where i'm not sure..... if not sure then use words like, "maybe", "i think" and etc lor..... Dont use so firm words like, "will", "cannot" and etc RPGT is something i was trying to work around it 2-3 yrs back.... I think i hav gathered sufficient info to kno wat is my risk, wat are their rights, pro & con and etc..... A simple logic, if the authority MUST accept whatever we stated in SPA transacted price, i think there will be lots of ppl already underdeclare the transacting price to avoid RPGT..... They wants their income, u still can keep your SPA transacted price.... This post has been edited by AppreciativeMan: Apr 5 2014, 11:38 PM |
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Apr 6 2014, 12:57 AM
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9,533 posts Joined: Jun 2013 |
QUOTE(gunh @ Apr 5 2014, 04:13 PM) The article itself explained why there is clause25 and how it works. Not based on what essence which u have highlighted. Clause 25 have to be read in full and not interpreted part by part like what you have said. If u read again the clause and the article, you will find clause 25(1) ,25(2), and 25(3) are inter relate. Walao argue to this level.. refer to hansard.. see parliament intention lahh.. we copy cat uk wat..i have explained and shared enough. if you still want to maintain your believing, then i cannot stop you. But i will not changed mine. at the end any form arguements remain as it is.. courts and government will interpret so far to suit their needs.. more revenues for gov are never a wrong.. This post has been edited by bearbearwong: Apr 6 2014, 01:02 AM |
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