Reply To: 3% Retention Tax



You have probably read my comment on this subject in a few posts below. I asked the very same, although have not yet completed on the sale.

You still need to pay tax for 2008 so your 3% return has reduced a little.

But are you due a tax refund? If so I guess you bought less than 5 years ago and are selling at a loss or very small profit, otherwise there is no tax to be returned as you will have a capital gains liability