Circular No. 15/19: Profits from Disposal of Real Property: Chargeable Gains or Business Income? (26 Apr 2019)

Please be informed that the Continuing Professional Development Sub-Committee is organizing a Seminar on Profits from Disposal of Real Property: Chargeable Gains or Business Income?

Everyone is legally able and capable of transacting property, be it for us or for and on behalf of our client acting as lawyer. Needless to say such property transactions must be done in compliance with the prevailing laws of the country.

Given the innate appreciating propensities and attributes of property in a booming property market, most disposals of property give rise to either gains or income; the former being capital in nature while the latter is revenue in nature. Given this factual scenario, there is a need to, not only appreciate the differences between a gain versus an income but the consequences of such differences.

Typically when we or our client disposes of a property, the first statute that comes to our mind for compliance is the Real Property Gains Tax Act 1976. Is this an over simplification and being falsely or naively presumptive? How true is such presumption? What happens when this presumption is challenged or turns out to be otherwise? Could this disposal plausibly be under Income Tax Act 1967?

The primary objective of this seminar is to assist you to guide your clients in determining whether a disposal of property is governed under RPGT Act 1976 or ITA 1967.

Particulars of the Seminar are as follows:

Date 26th April 2019 (Friday)
Time 2:30 p.m. to 5:30 p.m. (Registration at 2:00 p.m.)
Venue Level 1, Abdullah A. Rahman Auditorium
Johore Bar Building
No. 5 JalanTun Abdul Razak
Susur 1/1 80000 Johor Bahru
Fees RM 60.00 for Members of the Johore Bar
RM 30.00 for Pupils-in-Chambers | Law Students
RM 120.00 for Non-Members
CPD code T3/26042019/JHB/JHB192266/2 (2 CPD points)

About the Speaker

Mr. Lim Kien Chai, a legal practitioner is a Chartered Accountant and an Advocate and Solicitor of the High Court of Malaya and has a multi-disciplinary professional and career background spanning over a period of more than 30 years. He holds the following academic and professional qualifications: Bachelor Degree of Accounting from the University of Malaya (Hons); Bachelor Degree of Law from the University of London (Hons); 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 was a Past President of the Institute of Internal Auditors Malaysia.

Registration must be accompanied with payment to guarantee your place and is on a first-come first served basis.

CPD points and Certificate of attendance will be given upon completion of the whole session to participants who have attended until the end of the event.

Payment can be made by direct deposit or internet banking to:

Account name: JOHORE BAR HOUSE & LIBRARY FUND

Bank: CIMB Bank Berhad

Account no.: 80-0933164-8

Please direct all correspondence (including completed registration form and proof of payment) to the Johore Bar Secretariat by email to secretariat@johorebar.org.my or by fax 07-276 1188 not later than Thursday, 25thApril 2019.

AIMI SYARIZAD BINTI DATUK HJ. KUTHUBUL ZAMAN

CHAIRPERSON

CONTINUING PROFESSIONAL DEVELOPMENT

SUB COMMITTEE

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