What is a “transaction” for transfer duty purposes?
According to reports, given current low interest rates, there have been an uptick in property transactions. Therefore, it is worthwhile considering the potential impact of any transfer duty taxes to be imposed on such transactions. The Transfer Duty Act imposes a transfer duty on the value of any property acquired by any person by way of a transaction, or in any […]
Leasehold improvements and deductions
Certain lease agreements regarding land and property stipulate that the lessee, as part of his/her obligation under the agreement, is expected to make improvements to the leased asset. This doesn’t appear to be very beneficial for the lessee, as the asset that is improved on his/her expense, does not belong to them. Thus, the Income […]