Real Estate Transactions Just Got Easier With Online Credit Card Payments

Updated on November 13, 2014 by 2 Comments

We obviously love real estate, but one thing we don’t like about it is the legwork involved, especially with tasks that force us to go out and spend precious hours on the road. An example would be payments for real estate transactions like taxes and fees. Thankfully, real estate transactions just … [Read more...]

How Safe Is Your Property From Being Repossessed?

Updated on July 9, 2014 by 9 Comments
A gavel which is often used during tax foreclosure auctions

Last December 2013, it was all over the news that the Local Government of Quezon City had shut down the Manila Seedling Bank for failure to pay their real property taxes between 2001 and 2011. Is your property next? … [Read more...]

Is BIR RR No. 10-2013 Favorable To Violators Of The RESA Law?

Updated on August 13, 2013 by 10 Comments

Some PRC-licensed real estate service practitioners (RESP's) believe that the newly-released Bureau of Internal Revenue (BIR) Revenue Regulations (RR) No. 10-2013 dated May 2, 2013 is favorable to violators of the RESA Law. But what exactly does BIR RR No. 10-2013 really say? … [Read more...]

Tax Planning For Real Estate Using Corporations And BIR RR No. 6-2013

Updated on May 5, 2015 by 8 Comments
Taxes make a man sad...

The Bureau of Internal Revenue (BIR) has just released Revenue Regulations (RR) No. 6-2013 dated April 11, 2013 which amends BIR RR No. 6-2008, or the Consolidated Regulations Prescribing the Rules on the Taxation of Sale, Barter, Exchange or Other Disposition of Shares of Stock Held as Capital … [Read more...]

Homeowner’s association dues now subject to income tax and VAT (RMC No. 9-2013)

Updated on May 5, 2015 by 29 Comments
VAT and income tax on homeowners associations

Sorry to be the bearer of bad news, but we all saw this coming. Not long after the imposition of income tax and value-added tax (VAT) on condominium dues comes Revenue Memorandum Circular (RMC) No. 9-2013 dated January 30, 2013 which imposes income tax and VAT on homeowners’ association dues. … [Read more...]

Donation As An Estate Planning Tool (A Discussion on Donor’s Tax)

Updated on July 9, 2014 by 62 Comments
donations can be used for estate planning but are subject to donor's tax

The donation of properties can be used as a tool for estate planning. One just needs to be aware that donations are subject to donor's tax. Read this to find out how much donor's tax you need to pay when donating a property as part of estate planning. … [Read more...]

What You Need to Know About Real Property Tax (RPT)

Updated on July 9, 2014 by 44 Comments
real property tax in the philippines

Real Property Tax (RPT) is a tax that owners of real property need to pay every year so that the local government unit (LGU) will not auction off their property.There are some investors who buy tax-delinquent real properties and participate in auctions held by LGU’s, and this is one of the ways … [Read more...]

How to get a 20% discount on real property taxes

Updated on December 14, 2012 by 7 Comments
real property tax discount paranaque

As a property owner, one of our obligations is to pay our real property taxes. It's a given, we really have no choice but to include it on our list of real estate expenses, unless we would want our properties to get included in tax delinquent property auctions.But did you know that you can get … [Read more...]

Tax update: Condominium association dues are now subject to VAT

Updated on July 9, 2014 by 80 Comments
condominium dues now subject to vat

The Bureau of Internal Revenue (BIR) has just released Revenue Memorandum Circular (RMC) No. 65-2012 which clarifies the tax treatment of association dues, membership fees, and other assessments/charges collected by condominium corporations.In the past, the BIR has issued rulings which held that … [Read more...]

Death, Real Estate, and Estate Tax

Updated on April 24, 2015 by 30 Comments
Estate tax, the death tax

The topic of death is usually taboo on ordinary days except the start of November when we remember our dead on All Saints’ and All Souls’ Day, or when we are jolted by the death of a close friend or relative. We must accept, though, that we will all die – it is just a matter of time. With death, … [Read more...]