property valuation for purchase tax
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newscoop

Joined: 23/12/2007
Posts: 149
Message Posted:
16/10/2008 06:13
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Message 1 of 3 in Discussion |
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In the past the valuation for purchase tax purposes was based on the "build" value. My neighbour insists it is now based on the contact price. Is he right?
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Groucho


Joined: 26/04/2008
Posts: 2369
Message Posted:
16/10/2008 06:19
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Message 2 of 3 in Discussion |
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Yes he is... the good thing about that is, you no longer have to worry about extra covered areas you may add as they don't affect the valuation.
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fire starter

Joined: 19/06/2008
Posts: 1387
Message Posted:
16/10/2008 08:05
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Message 3 of 3 in Discussion |
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yes, its price paid on the contract!
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