How about stamping date? Isn’t the Stamping Date the correct disposal date?
If you have filed CKHT-1A before, you will come across below:
“Responsibility of the Disposer
As a disposer, first and foremost, your responsibility is to ensure that you have completed the Form CKHT 1A or CKHT 1B are completed accurately.
In order to do so, you will have to attach evidence of the acquisition and disposal such as the following:
For disposal of real property – A copy of the duly stamped Sale and Purchase Agreement / KTN 14A / Memorandum of Transfer.
For disposal of shares in a RPC – A copy of the duly stamped Sale and Purchase Agreement / Form 32A / Board of Directors’ Resolution / Form 24 or share certificates.
As there are many incidental costs of acquisition/disposal that you can claim, do remember to attach documentary evidence supporting your claim for expenses, eg. invoices and receipts of renovation expenses, legal fees, etc.
Thereafter, submit the Form CKHT 1A or 1B within sixty (60) days from the date of the disposal of assets or shares in a RPC.”
All documents of legal matters (instrument) require the process of adjudication. This is stamping of the documents – ad valorem or fixed duty. This is a revenue to the country. Refer Schedule 1 of Stamp Duty Act 1949.
Many are asking if the stamping date of the SPA is the correct date of agreement. The rationale of such matter is that stamping is mandatory to make the agreement adjudicated. The stamping date can be within 30 days of this signing date. Or within 30 days when the document is brought into Malaysia. Even beyond 30 days, it can be stamped with payment of penalty.
The purpose of stamping under Stamp Act 1949 is to collect taxes for government on documents of agreements. The adjudication process “legalizes” it to be presented to Court later on. However so, the date of the agreement is the signing date or the time of all conditions become unconditional.
Next, we will discuss about conditional contracts in RPGT.