Mayer sold his residential house and lot located in Manila on January 5, 2018 for P8,000,000.00. The property was purchased in 2005 for P3,000,000.00. The current market value of the property at the time of sale was: BIR Commissioner’s zonal valuation – P9,000,000 City Assessor’s schedule of values – P6,000,000 If Mayer in the preceding number, within 6 months after the sale, purchase another residence for P8,000,000.00, what will be the capital gains tax on the sale and what on would be the cost (basis) of the new residence for income tax purposes? Suppose Mayer, within the 18-month reglementary period, instead purchases a new principal residence at a cost pf P10,000,000. What will be the capital gains tax on the sale and what would be the cost (adjusted basis) of the new residence for income tax purposes? Suppose Mayer, within the 18-month reglementary period instead purchases a new residence at a cost of P5,000,000. What will be the capital gains tax on the sale? what would be the cost (adjusted basis) of the new residence for income tax purposes?
Mayer sold his residential house and lot located in Manila on January 5, 2018 for P8,000,000.00. The property was purchased in 2005 for P3,000,000.00. The current market value of the property at the time of sale was:
BIR Commissioner’s zonal valuation – P9,000,000
City Assessor’s schedule of values – P6,000,000
If Mayer in the preceding number, within 6 months after the sale, purchase another residence for P8,000,000.00, what will be the
Suppose Mayer, within the 18-month reglementary period, instead purchases a new principal residence at a cost pf P10,000,000. What will be the capital gains tax on the sale and what would be the cost (adjusted basis) of the new residence for income tax purposes?
Suppose Mayer, within the 18-month reglementary period instead purchases a new residence at a cost of P5,000,000. What will be the capital gains tax on the sale? what would be the cost (adjusted basis) of the new residence for income tax purposes?
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