Lawyers to hold RPGT seminar on Nov 2
MIRI: The Advocates Association of Sarawak (AAS), Miri branch will organise a seminar on legal and practical aspect of Real Property Gain Tax ( RPGT) on Nov 2, from 8.15am to 5pm at Imperial Hotel here.
The speaker will be Lim Kien Chai, a legal practitioner who is a chartered accountant as well as an advocate and solicitor of the High Court of Malaya and has a multi- disciplinary professional and career background spanning a period of more than 30 years.
He holds a Bachelor’s Degree ( Hons) in Accounting from the University of Malaya; Bachelor’s Degree of Law ( Hons) from the University of London; Chartered Institute of Management Accountants from the United Kingdom; Post- graduate professional qualification in Certified Internal Auditor from the United States of America and Certificate of Legal Practice from Malaysia.
He is a past president of the Institute of Internal Auditors Malaysia. He was a speaker for various seminars organised by Bar Council Malaysia.
The Advocates Association of Sarawak in a press statement said, RPGT is a tax on chargeable gains derived from disposal of property. A chargeable gain is the profit when the disposal price is more than the purchase price of the property and it is chargeable in the range of 0 percent to 30 percent depending on the holding period of the property.
However there are circumstances where RPGT can be exempted. These include transfer by way of gift between parents and children, spouses and others. Malaysian citizens also have the right to exercise once in the life time exemption right to not pay RPGT imposition on sale of the residential house.
The seminar will also touch on the aspect of the profit from disposal of real property, whether it is a chargeable gain or a business income which is always a grey area for business owners.
The registration fees will be RM600 (for early birds on or before 26 Oct 2017) and RM700 (after 26 Oct).
For further inquiries, please contact Miri Bar Room at 085430476 or email to: assmiribar@ gmail.com.