Harold is a resident alien. In November 2021, he sold his principal residence for P11,500,000 when...

 

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Harold is a resident alien. In November 2021, he sold his principal residence for P11,500,000 when the zonal and assessed value is P 13,500,000 and P12,000,000, respectively. It was originally bought by him for P8,900,000. In January 2023, Harold found a house and lot, intended to be his new principal residence, and bought it for P 10,500,000. How much is the CGT due from the transaction? ["0", "60,000", "62,609", "70,435"] What is the new cost base of the new property? ["8,900,000", "10,500,000", "8,126,087", "8,531,922"] Harold is a resident alien. In November 2021, he sold his principal residence for P11,500,000 when the zonal and assessed value is P 13,500,000 and P12,000,000, respectively. It was originally bought by him for P8,900,000. In January 2023, Harold found a house and lot, intended to be his new principal residence, and bought it for P 10,500,000. How much is the CGT due from the transaction? ["0", "60,000", "62,609", "70,435"] What is the new cost base of the new property? ["8,900,000", "10,500,000", "8,126,087", "8,531,922"]

Answer rating: 100% (QA)

Answer 1 The CGT due from the transaction is P70435 2 ... View the full answer