Commencement of amendments to the Real Property Gains Tax Act 1976
s 69
This Chapter comes into operation on 1 January 2019.
Finance Act 2018 chapter V — AMENDMENTS TO THE REAL PROPERTY GAINS TAX ACT 1976
Amendment of Schedule 2
s 69A
The Real Property Gains Tax Act 1976 which is referred to as the “principal Act” in this Chapter, is amended in Schedule 2— (a) by inserting after paragraph 2 the following paragraph: “2a For the purposes of this Schedule, where a disposal is subject to tax under Part I of Schedule 5, references to 1 January 1970 shall be construed as references to 1 January 2000.”; and (b) in subparagraph 12(2)(c), by deleting the words “where the gift is made within five years after the date of acquisition by the donor,”.
Amendment of Schedule 3
s 69B
The principal Act is amended in Schedule 3 in subparagraph 13(2) by substituting for the words “1 January 1970” wherever appearing the words “1 January 2000”.
Amendment of Schedule 5
s 70
The Principal Act is amended in Schedule 5— (a) in Part I, in the column “Rate of tax” in item 4, by substituting for the word “Nil” the words “5 per cent”; (b) in Part II, in the column “Rate of tax” in item 4, by substituting for the words “5 per cent” the words “10 per cent”; and (c) in Part III, in the column “Rate of tax” in item 2, by substituting for the words “5 per cent” dengan “10 per cent”.
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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).
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