buying property n naming it jointly with son who is pwd

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Arresto Menor

Posts : 2
Join date : 24/08/2016

What are the legal tax implications if i buy property and name it jointly with my son who is of legal age but not yet earning?
Can i put his name in this new unit as his primary residence so as not to be charged with capital gains? How about the donors tax?

lukekyle

lukekyle

Reclusion Perpetua

Posts : 2115
Join date : 25/04/2016

yes technically you should pay donors tax if the amount is above P100,000.00

attyLLL

attyLLL

moderator

Posts : 21671
Join date : 12/04/2010
Location : https://www.facebook.com/BPOEmployeeAdvocate/

you may be made to pay donor's tax for the share of your child. capital gains tax is payable by the owner, but it can also be based on your agreement.

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buying property n naming it jointly with son who is pwd

1 buying property n naming it jointly with son who is pwd Thu Aug 25, 2016 2:38 pm

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2 Re: buying property n naming it jointly with son who is pwd Thu Aug 25, 2016 3:44 pm

lukekyle

3 Re: buying property n naming it jointly with son who is pwd Sun Aug 28, 2016 4:01 pm

attyLLL

4 Re: buying property n naming it jointly with son who is pwd

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