ᐅ Is it common to buy land and pay part of the price in cash?
Created on: 14 Feb 2018 12:53
V
Vanyleon87
Hello,
I’m not sure if this is the right place, but we need some help. Here’s the situation: we found a piece of land privately where we want to build. However, the owner wants to do it so that only part of the amount is stated in the official purchase contract, and we would pay the rest in cash. (She mentioned maybe in an envelope in the notary’s waiting room, so she doesn’t have to pay tax on the full amount.)
We are very uncertain and find it strange that she wants to handle it this way. What do you think about that? We’re not sure if this could be considered tax evasion, which of course is completely unacceptable!
Thank you very much for your help.
I’m not sure if this is the right place, but we need some help. Here’s the situation: we found a piece of land privately where we want to build. However, the owner wants to do it so that only part of the amount is stated in the official purchase contract, and we would pay the rest in cash. (She mentioned maybe in an envelope in the notary’s waiting room, so she doesn’t have to pay tax on the full amount.)
We are very uncertain and find it strange that she wants to handle it this way. What do you think about that? We’re not sure if this could be considered tax evasion, which of course is completely unacceptable!
Thank you very much for your help.
@Nordlys You can’t defend injustice by arguing it’s right—just as an average intelligent person won’t accept fake news as the truth.
Regarding the BRW, the appraisal committee can only base purchase prices on actual sales. If the committee doesn’t include an appraiser from the region who conducts real market value assessments based on genuine sales, then the committee is basically operating in the dark…
P.S. Tax evasion is a criminal offense which, if convicted without probation, results in dismissal from civil service.
Regarding the BRW, the appraisal committee can only base purchase prices on actual sales. If the committee doesn’t include an appraiser from the region who conducts real market value assessments based on genuine sales, then the committee is basically operating in the dark…
P.S. Tax evasion is a criminal offense which, if convicted without probation, results in dismissal from civil service.