The article considers whether the taxable nature of profits from the sale of real property in Singapore is impacted by the Singapore-Malaysia tax treaty. Neither Singapore nor Malaysia has a capital gains tax, and in Singapore, a profit from a sale of real property is taxable only if it is income in nature, in which case it is taxable as trading or business income. If the profits are deemed to be taxable income, are taxing rights affected by the Singapore-Malaysia tax treaty?