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Tutorial stamping 1_2022

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8 views

Tutorial stamping 1_2022

Uploaded by

2024428686
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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Stamp Act 1949 - Tutorial 1 (conveyance)

a) Ahmad sold his house to Kevin for RM90,000, but the Market Value of the property is
RM98,000. Determine the stamp duty payable for the conveyance.

b) Suhaina bought a double storey terraced house in Bandar University from the developer
at the price of RM188,888. Market Value of similar properties is RM180,000. Determine
the stamp duty chargeable.

c) Encik Jamil owns two units of adjoining similar shophouses in Seri Manjung, Perak. As
he had to move to Kuala Lumpur he decided to give one unit to his sister Laily as love
and affection and sell the other unit to Mr. Lim for RM560,000. Current rental value of
similar shophouses is RM3,200 per month (net) and rate of return for similar properties
is 7%.

Determine the stamp duty payable by Laily and Mr. Lim

d) As Puan Kamariah is getting old, she decided to dispose her 24 hectares rubber
plantation. She signed an agreement on 3rd August 2020 to sell 13 hectares of the land
to Dato' Zain for RM610,000. On the same date she transferred the remaining 11
hectares to her only son Kamil. However due to some administrative problems, the
documentation for the area transferred to Dato' Zain was only completed on 5th May
2021. Market Value indicated a 5% increase from year 2019 to 2021. Kamil paid
RM10,500 stamp duty for the transfer.

Determine the stamp duty chargeable against Dato' Zain.

e) Puan Salmah owned two units of similar adjoining freehold double storey semi-detached
houses in Seberang Perai. As she was getting old she decided to sell a unit to Encik
Ismail and the other unit as a gift to her only son Daniel. The agreed selling price was
RM510,000 and an agreement was signed between Puan Salmah and Encik Ismail on
2nd May 2021. However due to some problems the transfer was only executed on 15th
March 2022.

The other property transferred to Daniel was executed on 10th May 2021.

Rental value of similar type of property was in the range of RM2,400 per month net in
2021 and indicated a 5% increase in 2022. Rate of return is 6% per annum.

i) Determine the persons chargeable to Stamp Duty in the above conveyances,


ii) Calculate the Stamp Duty payable for both conveyances

f) Cik Lola decided to purchase her first home in her hometown, Kota Bahru, Kelantan.
The sale and purchase agreement were signed and executed on 3 rd July 2019 and
indicated the price of semi-detached house in RM420,000. Upon submission the
document to the Collector’s of Land Revenue, the government valuer has estimated the
market value of the property is RM480,000. Calculate the stamp duty payable by Cik
Lola.

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