Why You Should Avail Tax Amnesty Now For Your Real Estate Properties!

People think that paying estate tax is a burdensome process but to relieve yourself from stress one should pay the right amount just to comply tax law's of the land.  The prior to the implementation of Republic Act 11213 (Tax Amnesty Act of 2019), payment of estate tax is at a rate of up to 60% and is very steep for many ordinary Filipinos.

By definition,  Estate Tax is a tax on the right of the deceased person to transmit his/her estate to his/her lawful heirs and beneficiaries at the time of death and on certain transfers, which are made by law as equivalent to testamentary disposition. It is not a tax on property. It is a tax imposed on the privilege of transmitting property upon the death of the owner.

How to Determine Your Household or Personal Disposable Income

In our previous article on Inside Real Estate:  Can You Really Afford the Monthly Mortgage? posted in September 2 2019. We will  discuss details on Household Disposable Income or Personal Disposable Income.

We know that financing your loans is very crucial in acquiring your "dream home". However, a borrower should consider the risk in buying a property against problems like foreclosure in the future.

Inside Real Estate: Can You Really Afford the Monthly Mortgage?

If yes, these are what you need to know first before making any drastic and tedious decisions because buying a real estate takes a lot of your finances and you should keep them in order for you to pay it regularly at the same time take pride in owning your very own home or your investment property. Therefore, it is imperative that studying first your personal finances, making decision with your husband or wife plus other expenses your family incur daily.