RPGT - RPC
10 important questions on RPGT - RPC
What is the RPGT tax implication for shares in a real property company (RPC)?
- Shares in a RPC are a chargeable asset.
- Acquisition of shares in a RPC is deemed an acquisition of a chargeable asset.
- Disposal of RPC shares is subject to RPGT.
Define a Real Property Company (RPC).
- RPC is a controlled company(SDN BHD) with not more than 50 shareholders, controlled by not more than 5 members.
- Acquires real property and/or shares in an RPC.
- Defined value of at least 75% of total tangible asset.
How is the total tangible asset value determined for an RPC?
- Total tangible asset = defined value of RP + defined value of RPC shares + value of OTA.
- Defined value of RP = market value of the RP.
- Defined value of RPC shares = acquisition price.
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What is the formula for AP if the company is not an RPC at the time of share purchase?
- AP = A/B x C
- A = number of shares acquired
- B = total number of shares at acquisition
- C = defined value of RP or shares in another RPC at acquisition
What is the acquisition date if the company is already a designated RPC upon share purchase?
- AP = consideration paid
- Acquisition date = date when the shares were acquired
What is the acquisition date if the company becomes an RPC after share purchase?
- Date of acquisition = date when company turns into RPC
What happens once shares are considered RPC shares?
- A company will be regarded as RPC if it holds shares of an RPC.
- RPC shares are a chargeable asset liable to RPGT on disposal.
- Once RPC shares, they will always be RPC shares.
What is the nature of loss from RPC shares?
What must be checked when a company is not a RPC?
When must the RPC status be assessed for a designated RPC?
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