Taxation Of Property Transactions In Malaysia by Arjunan Subramaniam | 2023


Taxation Of Property Transactions In Malaysia by Arjunan Subramaniam | 2023 

Author Arjunan Subramaniam
Publication Date May 2023
ISBN 9786297527147
Format Softcover + Ebook (200 pages)
Publisher Sweet & Maxwell


Description of Taxation Of Property Transactions In Malaysia | 2023 :
Taxes on real estate transactions can take many different forms and can include difficult problems. One important issue is whether gains from real estate transactions are subject to the Real Property Gains Tax Act of 1976 or the Income Tax Act of 1967. How will the taxes be calculated when properties are transferred within the taxpayer's same firm or between separate parties? How will shares of real estate businesses be handled in transactions? What rules apply to real estate transactions made by those businesses?
These puzzling topics, as well as others about tax reporting and assessments of property transactions, are addressed in this brief but thorough book. It offers a practical grasp of the legislation as well as the calculations used in taxation related to the sale, transfer, and conversion of property.
Clarification of the terms "trading" and "adventure in the nature of trade" is provided in the text, which also examines legal standards for assessing whether a given asset qualifies as an investment or a stock in trade. The principles outlined in Public Ruling No. 1/2009 are referenced in the book's discussion on taxes of housing developers and contractors. Examined is the potential tax obligation that land-dealing and money-lending businesses may incur from land transactions. Consideration is given to how rental property revenue is handled as well as capital allowance eligibility. The book also looks at taxes difficulties related to sand and wood extraction. Better comprehension of the complex topics is provided through a thorough review of the facts and concepts presented in numerous major instances.
The book discusses how to calculate the gains and tax liabilities on the disposal and transfer of property, so tax experts, revenue attorneys, accountants, property and company owners, tax students, and taxpayers in general will find it useful.
Key Features of Taxation Of Property Transactions In Malaysia | 2023 :
  • Focused discussion on taxation of property transactions.
  • Detailed explanation on the scope, limits and operation of the concept “adventure in the nature of trade”.
  • Provides essential guidance on whether a property transaction is subject to real property gains tax or income tax.
  • Discusses transfers of property within the taxpayer’s business, taxation of real property companies, and treatment of rent as business income.
  • Case studies highlight important and illustrative points of facts and law.
  • Easy and practical presentation of the text and case studies facilitates quick yet clear understanding.
  • Written by an experienced tax lawyer who is a former Assistant Director of the Inland Revenue Board of Malaysia. 
Table Of Contents of Taxation Of Property Transactions In Malaysia | 2023:
  1. Introduction
  2. The Scope of “Trading” and “Adventure in the Nature of Trade”
  3. Transfers of Property within Taxpayer’s Business
  4. Real Property Companies
  5. Case Study: Natasri Sdn Bhd v Director General of Inland Revenue
  6. Case Study: Ketua Pengarah Hasil Dalam Negeri v Sin Seng Bee Transport Sdn Bhd
  7. Case Study: International Naturopathic Bio-Tech (M) Sdn Bhd v Ketua Pengarah
  8. Hasil Dalam Negeri
  9. Case Study: Ziranhao Sdn Bhd v Director General of Inland Revenue
  10. Extracting of Timber and Sand: Whether Sums Taxable or Deductible
  11. Taxation of Housing Developers and Contractors
  12. Land Transactions in Money-Lending Companies and Purchase and Sale of Shares in Land Dealing Companies
  13. Rent as Business Income 

About The Authors of Taxation Of Property Transactions In Malaysia*:

At Shanker, Arjunan & Chua, Arjunan Subramaniam is a seasoned tax professional with a depth of knowledge in the subject of taxation. He worked as a Tax Director at a global accounting company after serving as an Assistant Director General at the Malaysian Inland Revenue Department before to entering private practise. Additionally, he is the author of A Practical Guide to Income Tax and Customs Duty Appeals, the Malaysian Stamp Duty Handbook, and the Malaysian Real Property Gains Tax Handbook.

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