I am trying to establish how the payment structure
I am trying to establish how the payment structure concerning tax is managed when you sell an item land managed by a “public company ltd by shares” . The land title is transferred on receipt 60% of the of the land cost and the remainder which comprises common area and infrastructure; is then amortised 40% and paid over 21 years. Is tax paid on the total value of the land transfer or is tax paid based on the sum received ( actual income ) 60%, of the value. With the remainder of the tax 40% paid on an annual basis as income is received ?
I have a question regarding the money transferred from