Compensation from foregoing of right in land with building @10 percent to eldest sister who is now in occupation

Compensation received from property which was owned by father who died in1995
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Quick Summary
This discussion clarifies the tax implications of compensation received for foregoing rights to a property. When you relinquish rights to land, especially if it involves a building and is part of an inheritance, it's considered a transfer. This transfer typically attracts Capital Gains Tax, meaning you'll need to account for it in your tax returns.

Amounts to relinquishment and is therefore a transfer hence it attracts capital gains
It will be treated as capital gains

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