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RPGT

Transfer Of Asset Inherited From Deceased Estate

  1. Acquisition date and acquisition price of the beneficiary
    1. Gift of real property on death

      Acquisition date
      Date of transfer of real property

      Acquisition price
      Market value of the real property as at the date of transfer less the sum referred to in paragraph 4(1)(a), 4(1)(b) or 4(1)(c) of Schedule 2 of RPGTA

    2. Acceptance of real property in place of a money legacy

      Acquisition date
      Date of transfer of real property

      Acquisition price
      Market value of the real property at the date of transfer or amount of legacy whichever is lower less the sum referred to in paragraph 4(1)(a), 4(1)(b) or 4(1)(c) of Schedule 2 RPGTA

    3. Transfer of real property to legatee by executor (irrespective whether he himself is a legatee or not) or by the trustee of a trust created under a will

      Acquisition date
      Date of transfer of real property

      Acquisition price
      Market value of the real property as at the date of transfer less the sum referred to in paragraph 4(1)(a), 4(1)(b) or 4(1)(c) of Schedule 2 RPGTA

  2. Acquisition date and acquisition price of the executor of a deceased estate
    The date of acquisition of the real property of the executor is the date of death of the deceased. The acquisition price is the market value of the real property as at the date of death less the sum referred to in paragraph 4(1)(a), (b) and (c) of Schedule 2 RPGTA.
  3. Devolution of real property of a deceased person on his executor or legatee
    In the case of devolution of real property of a deceased person on his executor or legatee, the disposal price is deemed to be equal to the acquisition price pursuant to paragraph 3(1)(a) of Schedule 2 of the RPGTA. Therefore, there is no gain or loss to be taxed.