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(Solved): Jack, a Malaysian citizen, purchased a house in Sepang Selangor in November 2020 for RM583,000. On 2 ...



Jack, a Malaysian citizen, purchased a house in Sepang Selangor in November 2020 for RM583,000. On 2 February 2023, he sold the house to his cousin Jill for RM950,000. This was his first property and he had never sold any property before this date. Required: Explain whether Jack is entitled to elect for the private residence exemption under Section 8 of the Real Property Gains Tax Act 1976, for the disposal of the house in Sepang Selangor.



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