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From cottages to jewelry, the new capital gains tax changes are reshaping property value considerations. Discover what this means for your assets.

From cottages to jewelry, the new capital gains tax changes are reshaping property value considerations. Discover what this means for your assets.

From cottages to jewelry, the new capital gains tax changes are reshaping property value considerations. Discover what this means for your assets.

Navigating California’s New Mansion Tax as a Seller #legacylivingrealty #legacyliving #bayarearealtor #bayarea #california #bayarearealestate #siliconvalley #realtor #californiarealestate #siliconvalleyrealestate

In addition to the purchase price noted in the purchase agreement, there are additional items/charges which are subject to land transfer taxes that purchasers need to keep in mind. Some of the items, which are classified as additional consideration, on which land transfer tax has to be paid include but are not limited to extras and upgrades that a purchase have opted for (i.e. upgraded flooring, cupboards, kitchen countertops, backsplash, etc.), development levies, education levies, park levies, installation costs of utility meter(s), Tarion Warranty enrolment fees, etc. Land transfer tax on the additional items/charges can certainly add up, as such it is prudent to plan accordingly when calculating closing costs on a pre-construction purchase. Contact us to go over your new property purchase agreement to determine what other items/charges will be applicable and subject to land transfer taxes.  #realestate #Ontario #home #condo #property #land #consideration #condominium #landtransfertaxes #preconstruction #realestatelawyers #development #taxes #closingcosts

If you live in Michigan and looking to purchase land in Michigan, check out this link. Auctions usually happen during the warmer seasons, but it's good to know of these sites to see what your options are and what fits in your budget. https://lnkd.in/gHgAFYJV #alternativeliving #homestead #offgridliving #landownership

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Lots of plant & machinery in this newly refurbished golf club lounge All these assets attract tax relief to a UK tax payer Property tax relief such as capital allowances allows you to claim some of your cost back by reducing your tax bill What are you investing in? Get in touch to discuss your planned, or newly completed project to find out how much #loungefurniture #investmentproperty #construction #interiorfitout #taxrelief

The recent Board decision in the case of Korte Construction Company shows how failure to effectively use the protest process can have downstream consequences during contract performance. The contract at issue in the case was for construction of a fuel hangar at Tinker Air Force Base. During bidding, Korte’s mechanical subcontractor reviewed drawings and, though they were ambiguous, determined that work on the chilled water system was not required. Offerors also asked questions about this, but the government’s answers were unclear.  Korte’s subcontractor determined on tis own that the work was not required and did not price in work for the chilled water system. During performance, a dispute arose with the government as to whether the work was required. The government ultimately issued a deductive change to remove the work and decreased the contract price by nearly half of a million dollars. Korte appealed to the Armed Services Board of Contract Appeals, but the Board ruled in favor of the government, finding that the solicitation was patently ambiguous and that Korte had failed to clarify it prior to award. Offerors are often hesitant to file pre-award protests in the face of ambiguous solicitation terms out of fear that the government may hold it against them during the evaluation process. But as a practical matter, the government wants clarity in its contract requirements and pre-award protests are often helpful to resolve ambiguity that could impact the agency’s mission. Here, the government did not get the construction it needed, and a pre-award protest could have avoided that result. Further, it could have protected Korte. In bid protests, both GAO and the Court of Federal Claims require patent ambiguities to be protested prior to proposal submission. This ensures, among other things, that offerors compete on even footing. But it also reduces the risk of costly down stream performance disputes like the one in this case. Where solicitation terms are ambiguous, offerors must keep in mind that the problem does not go away once the protest period has passed. Unless a pre-award protest is filed to clarify the requirements, bigger problems could loom ahead.  #governmentcontracting #govcon #bidprotests #claims #smallbusiness