Hope someone can help me on this,
i have a land that inherit from my parent, if i sell it after one year, my question as below:
1)will i need to pay rpgt
2)how to calculate the tax
Real Property Gains Tax (rpgt) Question
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 Jun 20 2010, 08:54 AM, updated 16y ago
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77 posts Joined: Apr 2010 
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Jun 20 2010, 09:49 AM
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#2
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Disposal within 2 years 30%
Disposal in the 3rd year 20% Disposal in the 4th year 15% Disposal in the 5th year 5% Disposal in the 6th and subsequent years 0% since my land from inherit so what is the cost, 1)how they calculate the cost? 2)will they use my cost as zero? This post has been edited by clicktiming: Jun 20 2010, 09:51 AM |
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Jun 20 2010, 10:45 AM
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QUOTE(simplicio @ Jun 20 2010, 09:56 AM) nope, they will use your papa's purchase price. so they won't user zero as my cost, my i right?nothing runs away from them, use logic. What you think of they have done R&D so its gonna be taxed all angled. but you can acculate all the cost your papa and you have done with the land , i.e maintenance , repair , reno, loyar fee , agent fee etc etc this can bring down the cost.  since the land about 70 years old from my parent, then they will use very low cost? current rpgt rate flat to 5% ? This post has been edited by clicktiming: Jun 20 2010, 11:49 AM |
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