TAX QUESTIONS? YOU ASK LAH!

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Q: Would transferring of properties to family members subject to Real Property Gains Tax (RPGT)?

A: Generally, transferring of properties to family members will be subject to RPGT. However, if the transfer is between spouses, parents and children, grandparents and grandchildren, and former spouses due to court order, the transfer will be deemed as no gain no loss, hence will not be subject to RPGT. 


Wishing you plentiful tax savings!

Zen Chow

YYC Tax Guru

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