Re: Re: The Problems Caused By Under-Declaration

#115578

Anonymous
Participant

Zenkarma, thanks for the info. You haven’t made many posts here or maybe haven’t been lurking to read all the posts for much time. We jump around a bit you see….a post can merge with other things and completely change course with only a few words. Being sarky with us all will mean that we’ll start to be sarky back to you 😉

We obviously all know the basics of what Capital Gains Tax means, the gains you’ve made if you buy and then sell at a profit.

The trouble is that so many properties had lower declared amounts before or during boom time so that local sellers paid much less capital gains. I guess it works out well if people are selling now as with this crisis they are selling at a loss but not actually paying capital gains since they on paper haven’t made any gains. Obviously in real life cash wise they’ve lost out big time.

Again, thanks for your informative post. Just don’t sound like a cross teacher towards a naughty student and we’ll all be happy.