1.

45,000 x RM3/RM1,000 = RM135

2.

For the transfer of shares, the stamp duty must be paid within 30 days of its execution (the moment
the shares is sold). If not, you can apply the penalty in pg14 lecture note.

Answer:

Faridah sells shares for RM 34 0 ,000 on 1 September 2020.

Stamp duty must be paid within 30 days. (1/9/2020-30/9/2020)

But late payment: 1/10/2020 – 15/5/2020 = 8 months

Stamp duty =340,000x3/100=RM1,020

Penalty (8 months) = 20% x 1,020 = RM204

Compare RM100 with RM204, whichever is greater

RM204 must be paid on penalty charge.

3. Stamp duty on RM1,750,000

On first 1,000,000 24,000

Next 750,000 30,000

54,000

750,000X4/100

750,000X4%

4.
(i) Stamp duty = 200,000x3/1000=RM600

(ii)

Premium + rental

=80,000+52,000

=132,000

On the first 100,000 1,000

Next 32,000x2% 640

Stamp duty payable 1,640

5.

A: Consideration x100/65

950,000x100/65

=1461538

Stamp duty

First 1,000,000 24,000

Next 461538x4% 18462

42462

B: Consideration = 950,000

Stamp duty

First 100,000 1,000

First 400,000 8,000

Next 450,000x3% 13500

Stamp duty payable 22,500

Bank guarantee

= A-B

= 42,462-22,500

= 19,962

Actual stamp duty computed by government

 valuer
First 1,000,000 24,000
Next 800,000x4% 32,000 56,000
Initial duty 22,500
Bank guarantee 19,962 (42,462)
Additional stamp duty 13,538
30% of A (16,800)
Excess NIL

No penalty to be paid

6.

The transfer shares from A to B will be exempted from the stamp duty (not chargeable) if A own at
least 90% of shares in B.

Ans:

Delima owns 90% of M. M owns 90% of J.

Delima owns 90%x90% of J = 81%

Stamp duty for the transfer of the shares from Delima to Jade (when we read the ques it says
properties, but it is actually the shares, so we should calculate based on the shares, not based on
properties)
=RM2,250,000 x3/1000=RM6,600

Delima owns 95% of Z. Z owns 100% of R

Delima owns 95%x100% = 95% of T

Since Delima owns more than 90% of Topaz, so instrument of transfer qualifies for the relief of
stamp duty, therefore no stamp duty is payable.

8.

Stamp duty payable

=(24,000 – 2,400)/250 x RM2

=21,600/250 x RM2

= MR172.8
Ex 53.5 (pg 639)

Chen is a managing director of Manju Sdn Bhd since 2001. Upon his retirement on 14.2.2021, the
company disposes a bungalow to him at RM3.9 million.

Required: Compute the stamp duty required to be paid and the amount of bank guarantee required
by the IRB.

A: Consideration x100/65

3,900,000x100/65

=6,000,000

Stamp duty

The 1st 1,000,000 24,000

Next 5,000,000 x4% 200,000

224,000

B. Consideration of RM3,900,000

1st 1,000,000 24,000

Next 2,900,000 x 4% 116,000

140,000 < Stamp duty required to be paid

Bank guarantee required by IRB

= A-B

=224,000 – 140,000

=RM84,000

Using the Example 52.5, the government valuer determined the value of the bungalow to be RM10.2
million.

Required: Compute the additional stamp duty a penalty to be paid by Chen.

Actual stamp duty computed by government

valuer
First 1,000,000 24,000
Next 9,200,000x4% 368,000 392,000
Initial duty 140,000
Bank guarantee 84,000 (224,000)
Additional stamp duty 168,000
30% of A (117,600)
Excess 50,400

Penalty: 10% of the excess (50,400x10%) 5,040