CGT deadline
How long do we have to file the CGT return?
The situation
The return and payment are due within 60 days from the date of disposal.
The law
- Secs 65E and 65F and Part XXI of Schedule 1, Income Tax Act 1967: Capital gains tax on disposal of unlisted shares: 10% of gain, or 2% of gross price for shares bought before 1 Jan 2024
What it means for you
The disposal date is usually completion under the agreement. Mark the 60th day as soon as the deal closes. Late filing and payment bring penalties. Agreements with conditions precedent may shift the disposal date to when conditions are met. Ask your lawyer to confirm the date in writing.
What to do
- Confirm disposal date.
- Count 60 days.
- File e-CKM.
- Pay.
We can do this for youCapital gains tax on disposal of unlisted shares: MYR 2,000