Series D04 Tax 5/5 - Question 5; RPGT

Q.
Can you predict what question is going to come out on RPGT this year 2015?
(Series D04 Tax 5/5 - Question 5; RPGT)

A.
Based on the past 4 years:

2011 Q2 calculation on RPGT, disposable price, acquisition price, renovation, conversion of title
2012 Q7 chargeable gains and allowable losses, tax relief for allowable losses
2103 Q - none
2014 Q5 conditional contract and 'no gain no loss' RPGT treatment

Question with scenario of property transaction in Stamp Duty Calculation usually combine RPGT with Stamp Duty. It has not been specific question on purely RPGT (theory) apart from 2014. Hence, I suspect there will be trend towards a dedicated question on RPGT.

1. Explain what are the taxes involved in a Sale and Purchase Agreement. In the case when the tax is viewed as unfair, how can the transferee object and appeal to the tax levied?

2. What are the available expenses that can be used to reduce RPGT so that chargeable gains can be lowered?

3. What are the ways government curb property speculation using taxes?

4. What are the exemptions available for RPGT? Specify the schedules and paragraphs which are involved.

5. Calculate the RPGT due for a scenario with transfer of property from 3 parties, A to B as Grandparent to Grandchild, then sold to a third party buyer C, calculate the RPGT payable with the rate at the year of disposal at 20%.

Ref:

Earlier posts in past year question bank.