Real Property Gains Tax (Exemption) Order 2011 [P.U. (A) 434/2011]

In Paragraph 37 of the 2012 Budget Speech it was proposed that the RPGT rates on the gains from the disposal of properties commencing from 1 January 2012 be reviewed.

This order exempts any person from the payment of tax on the chargeable gain in respect of any disposal of a chargeable asset on or after 1 January 2012, on the condition that the amount of chargeable gain shall be determined by a formula provided.

Effectively, the order states that the rates of Real Property Gains Tax (RPGT) are as indicated in the table below:

	Holding Period	RPGT Rates
i)	Up to 2 years	10 %
ii)	Exceeding 2 until 5 years	5 %
iii)	Exceeding 5 years	0 %

The Real Property Gains Tax Act (Exemption) (No.2) 2009 [P.U. (A) 486/2009] published on 30 December 2009 is revoked.