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View Full Version : CAPITAL GAINS TAX AGAIN



squeals
09-25-2006, 09:18 AM
My lawyer told the people who are selling the house I am buying that, as residents, they will receive a bill for their capital gains tax next year when their tax is due, but any profit on the sale of their house will not be taxed if they can prove they put that profit into buying another house. You have said the oposite below. Who is right, and why are we given different advice?

Expert advisor
09-27-2006, 08:29 AM
Non-residents have no deductions on the payment of taxes, and they have to pay them on the profit made with the sale.
Residents will not pay taxes if they reinvest the total amount they have got for the sale in a new property, not only the profit but the total. This will not be so if the investment is previous to the sale.

We remain at your disposal to any further question you may have.