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judah
Apprentice
Joined: 26 Jul 2006
Posts: 4
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 Posted: 08/06/08 - 04:19 Post subject: |
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| Hi, I’m Nick from Denver and I’m about to inherit a house. Actually, my parents are still alive but they’d like to give me the house as a present so they won’t sell it to me and I won’t buy it. Only the owner of the house will be changed. What do you think, will I have to pay CGT on this property or not. |
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eb
Apprentice
Joined: 25 Oct 2006
Posts: 3
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| Posted: 09/05/08 - 03:55 Post subject: |
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Hello Nick, I’m afraid you will have to pay something which doesn’t have to be CGT but some other tax, I don’t know which one but definitely you’ll have to pay something. It is certainly an amount much less than CGT. By inheriting the house your complete property is going to rise and that means that you’ll pay more tax. Also, when you participate in a lottery and you win, you won’t get the whole sum, but the sum lessened by the tax. In this country, and not only in this one but also in the whole world, people have to pay taxes, so you have to pay them too.
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