Oct 30 2009, 11:05 PM
QUOTE(skng03 @ Oct 30 2009, 09:23 PM)
ok, 4 years back i bought a DS link @ 192k, planing to sell it by next year @ 250k 
.
market price around 240k now.
my gain = 250-192=58k
my expenses = LA legal fees 3k
MOT 4.5k
bank interest +- 25k
reno/ upgrade the house 40k
total expenses = 72.5k
My Actual Profit = 58k-72.5k=-14.5k
so, am i require to pay tax on sale of my property
If follow yr calculation, u no need to pay tax. but bank interest is not deductible in the RPGT calculation anymore. .market price around 240k now.
my gain = 250-192=58k
my expenses = LA legal fees 3k
MOT 4.5k
bank interest +- 25k
reno/ upgrade the house 40k
total expenses = 72.5k
My Actual Profit = 58k-72.5k=-14.5k
so, am i require to pay tax on sale of my property
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