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TCT transfer

carbomb_101 · 40 · 11949

carbomb_101

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on: Oct 11, 2010, 07:49 PM
gaano po ba tumatagal ang pag pa pa transfer ng ownership ng tct ng isang residential property? like, sa bir sa pag fi file ng capital gains at dun mismo sa registry of deeds? salamat po :hihi:
« Last Edit: Oct 22, 2010, 01:42 PM by FutureGizmo »


bauer

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Reply #1 on: Oct 13, 2010, 12:38 PM
sa BIR dapat within 24 hours after the deed of sale is signed by both parties, capital gains tax is paid.

BIR, RD, and City or municipal registrar's office will be completed within 2 to 3 months if all documents are complete and in good order.


sneaker23

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Reply #2 on: Oct 19, 2010, 10:41 PM
gaano po ba tumatagal ang pag pa pa transfer ng ownership ng tct ng isang residential property? like, sa bir sa pag fi file ng capital gains at dun mismo sa registry of deeds? salamat po :hihi:

if you don't want to do it hands-on or don't have time to do it on your own, pm me san ang property so I can refer you to someone


arnarn

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Reply #3 on: Oct 21, 2010, 09:11 PM
makikitanong na din po ako sa thread na to. magkano po nagagastos sa pagtransfer ng title ng condo unit?


bauer

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Reply #4 on: Oct 22, 2010, 01:29 PM
new buyer will pay 6% capital gains tax before it is transferred and additional fees will be doc stamps tax
and transfer fees (additional estimate of 1.5%).  you must include a budget for processing expenses kasi pupunta sa BIR, register of deeds, city or municipal office, BIR accredited bank, etc.


sweet_cherry

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Reply #5 on: Oct 26, 2010, 12:44 PM
6% capital gains tax will be based from actual selling price, na nakalagay sa deed of sale or fair market value according to the assessor's office (di ko sure re assessor's office)

gano katagal: Depende kung gaano ka "kabait" sa mga taga RD at BIR


tops5450

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Reply #6 on: Oct 26, 2010, 04:08 PM
How much is he required to pay in taxes to government for the sale?

The computation of his tax due depends on whether his property is a capital asset or an ordinary asset.

Capital assets refer to properties that are not used in connection with trade, business, or as an income source by the owner.

The applicable tax in the sale of capital assets is the capital gains tax. The tax rate is 6 percent of either the “price per deed of sale” or “zonal value” in case of land.

Government, in deciding which of the price or the zonal value (fixed by the local government unit) to use as basis in the computation of taxes, always goes for the higher amount.

On the sale of the lot with improvement (such as a house), the basis is also the “price per deed of sale” or the “lot zonal value,” whichever is higher, plus the value of the building on the land.

The capital gains tax should be paid within 30 days from the notarization of the deed of sale. Late payments are subject to 25 percent penalty.

The usual agreement in the sale and purchase of properties in the Philippines is that the seller takes care of the capital gains tax or creditable withholding tax while the buyer pays for the DST and transfer tax.

The transfer tax is a levy imposed by the local government unit. The rate is not more than 1 percent for properties in the cities and towns of Metro Manila and not more than 1/2 % for properties outside of Metro Manila.

Duty STamp Tax is 1.5 % of gross selling price or zonal value plus value of the structure (if there is a house or building on the lot), whichever is higher.


yojmg

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Reply #7 on: Oct 26, 2010, 05:20 PM
very informative, thanks...


sneaker23

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Reply #8 on: Oct 26, 2010, 09:12 PM

http://www.bir.gov.ph/taxinfo/taxinfo.htm
http://www.bir.gov.ph/taxinfo/tax_capgin.htm


bauer

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Reply #9 on: Oct 27, 2010, 12:53 PM
tops5450,

i made an advice to pay BIR within 24 hours after the deed of sale is executed to make sure to avoid the penalty charges.  it's true you are given 30 days to settle the tax BUT our BIR has a CUT-OFF date that might not be followed so they will still impose a penalty even if it is less than 30 days.

just for info


tops5450

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Reply #10 on: Oct 27, 2010, 07:40 PM
 :thankyou:  sir bauer for the updates


bountyhead

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Reply #11 on: Oct 27, 2010, 09:31 PM
wala akong kaalam nung bumili ako ng house n lot. nakasulat pala sa deed of sale na ako mgbabayad ng capital gain tax. so ganun nga ang nangyari. naisnis at nabagalan ako sa developer kaya ako na rin naglakad ng transfer.

sa mga bibili jan, take note ang bagay na ito. malaki din ang 6 percent.


tops5450

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Reply #12 on: Oct 27, 2010, 09:36 PM
kelangan po kasi na ang seller ang magbabayad ng capital gains tax kasi sila ang Kumita (gains) di naman ang buyer di ba.


bauer

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Reply #13 on: Oct 28, 2010, 01:50 PM
surprisingly, sa developer pala siya bumili tapos siya ang bahala sa CGT?  pay BIR first and then file a complaint with the HLURB about this developer 'abuses'.





keansiy

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Reply #14 on: Nov 06, 2010, 02:02 AM
Hi, I seem to be in the same predicament. I am paying for everything.
It was a foreclosed property of Union Bank.
I'm in the process of having the title transferred to my name.   
I was being charged Expanded Withholding tax ( 6% of 6% the total contract price). 
As suggested by Bauer, I am seeking the advice of a tax accountant. But what do you think guys?


 


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