Capital gains tax

Guest 0.10 Dollars($)

How capital gains tax is related with home buying?????

Any Help!!

Caron · Posted: Sat Oct 15, 2005 4:42 am Post subject: RE:

Hi Fret09

Welcome to the forums.

Capital gains tax is not directly related to home buying; rather it is related to the sale of a property. It includes the tax payments charged on the profit from the sale of the property. The gain is equal to the increase in the value of the property.

The amount of tax depends on the property type and the length of time for which the property has been under the ownership of the seller. You can also get tax breaks on the gains from the sale of your property but this depends on certain rules and regulations of the Internal Revenue Service.

Hope this information will be helpful for you.

Please feel free to post further queries.

Regards,
Caron.

Niicss · Joined: 03 Oct 2005 Posts: 1047 156.17 Dollars($)

Hi,

It is basically a capital information tax. It is imposed on investment and capital accumulation. It is the difference between the money received from selling the asset and the price paid for it.

Today the United States has highest capital gains taxes of any industrial nation. In fact, many major international countries including the Netherlands, Hong Kong, and Taiwan has imposed no tax on long-term capital gains.

Only United Kingdom and Australia have higher capital gains tax rates.

Its the poor who suffers the most from such type of taxes.

I think these information will go on to make things more clear to you.

Niicss

[Edited by Jessica, made minor changes. Thanks.]

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