Commencement of amendments to Real Property Gains Tax
(1) The provisions of this Chapter (except sections 24, 25 and 26) shall be deemed to have come into force on 18 October 1980. (2) Sections 24, 25 and 26 shall be deemed to have come into force on 7 November 1975.
Amendment of section 2
The Real Property Gains Tax Act 1976, which in this Chapter is referred to as the principal Act, is amended by inserting appropriately in subsection 2(1) the following interpretations of “co-proprietor”, “co-proprietorship” and “permanent resident”— ‘ “co-proprietor” and “co-proprietorship” have the meaning respectively assigned to them by the National Land Code [Act 56 of 1965];’; ‘ “permanent resident” means a person treated as such under any written law relating to immigration;’.
Amendment of section 8
The principal Act is amended by inserting the words “who is a citizen or an individual who is not a citizen but is a permanent resident” after the words “to an individual” in section 8.
Amendment of section 47
The interpretation of “classified person” in subsection 47(5) of the principal Act is amended— (a) by deleting the word “or” in paragraph (b); (b) by inserting the word “or” after the semi-colon at the end of paragraph (c); and (c) by inserting after paragraph (c) the following paragraph (d)— “(d) the Director General of Valuation and public officers under his direction and control;”.
Amendment of Schedule 1
Schedule 1 to the principal Act is amended— (a) by substituting for the words “Body of persons and partnership” in the marginal note to paragraph 1 the words “Body of persons, partnership and co-proprietorship”; and (b) by inserting after subparagraph (2) of paragraph 1 the following subparagraph (3)— “(3) In the case of a co-proprietorship a disposal by one of the co-proprietors of his share of the chargeable asset shall be deemed to be part disposal of an asset by him alone and he shall be assessable and chargeable to tax on the chargeable gain resulting from such disposal.”.
Amendment of Schedule 2
Schedule 2 to the principal Act is amended by inserting after subparagraph 24(2) the following subparagraph (3)— “(3) For the purposes of this paragraph the term“ instalments” refers to two or more payments of the acquisition price (other than any deposit or advance payment as stipulated in the agreement) as agreed to by the parties.”.
Amendment of Schedule 4
Schedule 4 to the principal Act is amended by inserting the words “to an individual who is a citizen or an individual who is not a citizen but is a permanent resident” after the words “gain accruing” in paragraph 2.
Amendment of Schedule 5
Schedule 5 to the principal Act is amended— (a) by inserting between the words “RATES OF TAX” and “Category of disposal” the following: “ PART I Except where Part II of this Schedule is applicable, the following rates of tax shall apply:”; and (b) by inserting at the end of the Schedule the following: “ PART II An individual who is not a citizen and not a permanent resident shall be charged at the rate of 40 per cent on every ringgit of the chargeable gain on the disposal of a chargeable asset acquired by him after 17 October 1980.”.
Provisions on this page are reproduced verbatim from official open data. See the attribution line.
Text as at 1 January 2006 (LOM reprint); amendments made after that date may not be incorporated. Read the official text ↗
Source: Laws of Malaysia, Attorney General's Chambers of Malaysia (lom.agc.gov.my). Not a copy of the Gazette printed by the Government Printer (Interpretation Acts 1948 and 1967, s 61).