Just wonder whether the stamp duty on MOT and loan and legal fees on loan is still deductible for RPGT since it is borne by developer. How about the progressive interest for non dibs is also deductible for RPGT?

How come the progress interest is no deductible? It is capital in nature.....and since no dibs.....it was now bear by owner.....it should be permitted expenses for RPGT.......

Ya....I also confirm with my tax agent.....anyway.....I thinking to add my parents name as co owner since she haven't claim any once in lifetime exemption.....hope this will help to lower RPGT bye half to 15% (sell within 3 years)......anyone has tried this and do this work?

This post has been edited by scongi: Dec 18 2013, 07:51 AM

Answer to 1) : I need to put my mum as joint name as the loan is under my name. If i only put my mum name, it is very hard to get loan. I think with my mum name, i can safe 15% of RPGT by claim my mum life time exemption (in the case disposed in 3 years) and i can choose to pay balance 15% for my own part. I will only use my life time exemption on other property bought under my name to maximize the profit.


Answer to 2) : if I have used my life time exemption, I will need to pay 15% of RPGT.

If any of my explanation is not correct, taiko here please advise. Tks.