CGT for Agricultural Land?
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templeton
Apprentice
Joined: 14 Feb 2007
Posts: 8
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 Posted: 12/04/07 - 08:56 Post subject: |
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| I heard that there is a going concept towards the one who works on the land gets it so how is this estimated towards the capital gain tax? More you have the land less you pay the tax? More you work less you pay the tax? If you rent it the one who works on it gets it at least much greater percentage? |
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trevar
Apprentice
Joined: 13 Aug 2005
Posts: 6
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| Posted: 01/02/08 - 22:59 Post subject: |
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| The one who would have a use of land would pay the capital tax. You can set the land as a gift where you don’t pay the tax. But you don’t need to do it since agricultural land is not taxed if the whole capital you used to purchase it is used or if not the difference would be taken to form the tax. |
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