INCOME TAX ACT OF 2015
DECLARATION BY VENDOR/OWNER
(TIN :) 12-25527-0-4
1. I LIM PHAIK LEAN (TIN: 12-25527-0-4) of Lautoka, Director do hereby solemnly
and sincerely declare:2. THAT the name and address of the purchaser is:- LOW SOON GIAP (TIN: 0716845-0-9) of Lautoka, Director.
3. THAT I am the Joint owner of the capital asset described in the transfer
dealing to an even date.
4. THAT I am the transferor named and described in the Transfer dealing to
an even date.
5. THAT I am a Fiji Citizen as defined in the Income Tax Act 2015 because:A person who is a resident within the meaning in the Income Tax Act.
6. THAT I solemnly declare that the disposal of the capital asset is a non-arm’s
length disposal under Section 89 of the Income Tax Act 2015.
7. THAT the details of the disposed capital asset are as follows:a) Location of Capital Asset: Lautoka
b) Nature of Capital Asset: Company Limited by Shares (Private
Company)
c) Reference & Details of Capital Assets: LYZ PROPRIETARY PTE
LIMITED
d) Cost of Acquisition: Nill
e) Date of Acquisition: 2019
f) Purpose of Acquisition: Business
g) Details of Structural Improvement before Acquisition: None
h) Details of Structural Improvement after Acquisition: None
i)
Consideration on Disposal: By Way of Natural Love and Affection
j)
Portion of Capital Asset not used as principal place of residence:
None
k) Portion of Capital Asset being disposed: 1 Ordinary Shares of
One Dollar ($1.00) Each.
8. THAT I claim exemption under Section 87 (1) (c) of the Income Tax Act
2015 because:
87 (1) (c) There is no gain on disposal of shares in a company by reason
of love and affection between spouses, siblings, parents to children
and vice versa, and grandchildren to grandparents and vice versa.
9.
THAT I claim for deferral under Section 87 of Income Tax Act 2015
because
None
10.
THAT I claim exclusion under Section 66 of Income Tax Act 2015
because
None
11.
Real Estate Agent Name and Address: N/A
12.
Commission Paid to the Real Estate Agent: N/A
AND I make this solemn Declaration believing the same to be true and by
virtue of the Statutory Declaration Act, 1970 (Cap. 43).
DECLARED at
on this
day of
2021
after the contents hereof was read and
explained to him in the English language and
he appeared fully to understand the meaning
and effect thereof:-
..................………………
SOLICIOTR, NADI
…………………………