happyjune Posted June 6, 2011 Share Posted June 6, 2011 I am asking on behalf of wife, but it is of a personal interest to me of course. If she buys some land, say one Rai (1800m2 and builds it up 3m, puts a drain in and a retaining wall, are these cost deductible form the selling price for tax purposes? Assuming all sold within the year to keep it simple here. In this case, it is owned in my wifes name, not a company. These improvements have directly made the land more valuable. What if a company bought the land? Link to comment Share on other sites More sharing options...
happyjune Posted June 11, 2011 Author Share Posted June 11, 2011 I am looking at his calculator fro land tax. On the right it indicates my wife can only dectuct 8% after the first year. Is that a correct interpolation? http://www.siam-legal.com/realestate/property-tax-transfer-calculator.php The land is owned by my wife, Personal not in a company. So is it a simple matter of doing the calculator and then add another 30% more Withholding Tax off the selling or valuation price, (presuming it was in the 1 - 4 million range). So this would be similar to personal income tax right? Link to comment Share on other sites More sharing options...
happyjune Posted June 15, 2011 Author Share Posted June 15, 2011 Anyone? Link to comment Share on other sites More sharing options...
transam Posted June 15, 2011 Share Posted June 15, 2011 Not yet. Link to comment Share on other sites More sharing options...
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