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Wallstreet Esq.
Wallstreet Esq., Tax Attorney
Category: Tax
Satisfied Customers: 586
Experience:  10 years experience
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I am trying to establish how the payment structure

Customer Question

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 ?

Submitted: 1 year ago.
Category: Tax