(a) 12 March 2019, because if there is an agreement, the date they signed the agreement is the

date of acquisition.
(b)

RM
Consideration paid 250,000
(+) Stamp duty on acquisition 4,000
Legal fees on acquisition 1,980
Acquisition price 255,980

Consideration received 677,000

(-) Drainage and irrigation system (13,500)
Advertisements for sale (2,500)
Farm buildings (22,800)
Fencing (5,600)
Legal fees to defend his title to the land (27,000)
Real estate of agent’s fees (16,500)
Valuation fees (1,000)
Disposal price 588,100

Disposal price 588,100

(-) Acquisition price (255,980)
Chargeable gain 332,120
(-) Sch 4 Exemption (33,212)
10,000 or 10% of chargeable gain, whichever
higher
293,963
RPGT rate 30%
RPGT payable 88188.9
(-) RPGT loss relief (4,945)
Net RPGT payable 84,727.4

(c) 10 June 2019, because if there is no written agreement, the date of acquisition is the date of
completion of disposal.
Question 2

Consideration paid 245,000

(+) Incidental costs
Lawyer’s fees 22,000
Stamp fee 6,800
Acquisition price 273,800

Consideration received 660,000

(-)Expansion of kitchen (90,000)
Extension to room (10,000)
Broker’s fee (13,200)
Advertisements in newspapers (1,200)
Disposal price 545,600

Disposal price 545,600

(-) Acquisition price (273,800)
Chargeable gain 271,800
(-) Sch 4 Exemption (27,180)
10,000 or 10% of Chargeable gain, whichever
higher
244,620
RPGT rate (4th year) 20%
RPGT payable 48,924