Jebhead Posted March 23, 2011 Share Posted March 23, 2011 How much to transfer from one name to another on chanote of condo? I thought it was only 2% but i have heard 5% and also 8%, can someone confirm which is correct? JH Link to comment Share on other sites More sharing options...
PattayaParent Posted March 23, 2011 Share Posted March 23, 2011 Depends on how long you've owned the condo. Link to comment Share on other sites More sharing options...
Jebhead Posted March 23, 2011 Author Share Posted March 23, 2011 Depends on how long you've owned the condo. Less than 5 years JH Link to comment Share on other sites More sharing options...
rockdude Posted March 24, 2011 Share Posted March 24, 2011 You have to pay<br><br>1. Government Fee of Transfer is 2% based on the government assessed price.<br>2. Specific Business Tax: 3.3% for specific business tax based on the gov assessed price or sale whichever is higher.<br>3. Withholding Taxes (The gov assessed price minus Deduction with the expense of possession divided by the # years of possession)<br><br> Link to comment Share on other sites More sharing options...
Mugg Posted March 24, 2011 Share Posted March 24, 2011 Pretty good breakdown Link to comment Share on other sites More sharing options...
Jebhead Posted March 24, 2011 Author Share Posted March 24, 2011 Pretty good breakdown Very good - many thanks. JH Link to comment Share on other sites More sharing options...
eljeque Posted March 28, 2011 Share Posted March 28, 2011 figure a little over 6% of the land office appraised value. Link to comment Share on other sites More sharing options...
haveaniceday Posted March 30, 2011 Share Posted March 30, 2011 (edited) It appears it's lots more that 6% if you buy from an indivual, not a company. In the link, pretty good breakdown above, it was very helpful and yet seemed like an error, In the original page they say that Withholding tax is 1% of value, thats for a company, look at the graph on the right, it's a sliding scale, they seem to nail the seller up to 37% of the value of the property if it's a personal sale. http://www.siam-lega...-calculator.php and in this worked out example, look at the Withholding tax worked out. http://www.siam-lega...ransfer-tax.php Taxation on progression rate 1 to 80,000 = exempt 80,001 - 100,000 = 5% (1,000) 100,001 383,333.33 = 10% (28,333.23) Total = 29,333.23 (1,000 + 28,333.23) Geez, I hope I have this all wrong. Note, I had been trying to get this information off the Sunbelt site and use those links, but I failed to find that. Edited March 30, 2011 by haveaniceday Link to comment Share on other sites More sharing options...
PattayaParent Posted March 30, 2011 Share Posted March 30, 2011 It appears it's lots more that 6% if you buy from an indivual, not a company. In the link, pretty good breakdown above, it was very helpful and yet seemed like an error, In the original page they say that Withholding tax is 1% of value, thats for a company, look at the graph on the right, it's a sliding scale, they seem to nail the seller up to 37% of the value of the property if it's a personal sale. http://www.siam-lega...-calculator.php and in this worked out example, look at the Withholding tax worked out. http://www.siam-lega...ransfer-tax.php Taxation on progression rate 1 to 80,000 = exempt 80,001 - 100,000 = 5% (1,000) 100,001 383,333.33 = 10% (28,333.23) Total = 29,333.23 (1,000 + 28,333.23) Geez, I hope I have this all wrong. Note, I had been trying to get this information off the Sunbelt site and use those links, but I failed to find that. Input the sample data for a property owned 5 years and you get a percentage of 5.9666 recurring, which is a lot closer to 6% than 37% Link to comment Share on other sites More sharing options...
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