(b) Syahid is a Malaysian citizen, bought an house in Jalan Inderaloka, Kuah Kedah on 1 December 2016 for RM320,000. Upo

[answerhappygod]

(b) Syahid is a Malaysian citizen, bought an house in Jalan
Inderaloka, Kuah Kedah on 1 December 2016 for RM320,000. Upon
acquisition, he incurred stamp duty and legal fees of RM5,000 and
RM3,500 respectively. Two months later, he made a renovation on the
kitchen area and incurred cost amounting to RM40,000. In March
2016, he received compensation of RM15,000 from the house developer
due to damage on the pilling system. At the end of March 2019, he
decided to move to Melaka to take care of his parents. He then sold
the apartment to Haifa for RM430,000 (market value RM480,000) as
evidenced by the Sale and Purchase agreement dated 20 June 2020.
However, the full settlement was only made to him on 30 August
2020. Upon disposal, he incurred valuation fees of RM2,800 and
brokerage fees of 5% from the disposal price.
Required:
i. Explain
briefly the circumstances of no gain no loss situation.
(4
marks)
ii. Compute the real
property gains tax payable, if any, on the disposal of the
apartment by Joshua for the year of assessment 2020.