Date when your bank release full payment and handover the master keys to you.
Rental income, When it belongs to buyer?
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 Oct 19 2017, 09:08 AM
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Oct 19 2017, 10:02 AM
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QUOTE(Nepo @ Oct 19 2017, 09:35 AM) That means the previous owner will hand over the keys to me when he receives the full payment. IRB will tax you based your borong BE submission form. They will refer to your rental agreement with tenant for the starting date of rent. Be sure to submit your new rental agreement to LHDN for stamping to make it legal.How about the rental income recognition by the Inland Revenue Board in income tax law? Will IRB taxes me for the period of rental income from S&P Agreement to the full payment release by the bank(if no clause states that when the rental income should belong to the new owner? Thank you.  |
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