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  1. Join Date
    Mar 2004
    Posts
    8,912
    #21
    TRAIN law adjusted inheritance tax to 6% ... same as donor's tax ... and real property capital gains tax ... not so sure though ... allowable deductions are medical and burial costs ...

  2. Join Date
    Mar 2009
    Posts
    820
    #22
    to the t.s.

    nagtipid ka ng 5k for legal advice.

    eto advice ko, huwag ka sa net mag tanong. since legal advice lang naman hanap mo eh, dont be a cheapo and shell out 5k for a basic legal advice.

    tataas lang naman ang legal fees mo pag lawyer gagawa ng lahat. what you need is proper legal advice hindi mga arm chair kuno advice from the inter webs.

  3. Join Date
    Jan 2016
    Posts
    3,013
    #23
    Actually you don't even have to pay for legal advise, punta ka sa local BIR mo, tuturuan ka nila dun, Yan ginawa ng utol ko

  4. Join Date
    Jan 2008
    Posts
    3,678
    #24
    Quote Originally Posted by AltisAndMZ3FAN View Post
    Thanks sir!! You have specific form in mind sa BIR? So assuming once done, ito alongside death certificate and notarized extrajudicial + waive of right should suffice?


    Sent from my iPhone using Tapatalk
    you can ask BIR.. punta ka lang sa RDO na nakakasakop sa lugar ng residence ng deceased.. may checklist na sila dun.. ang kailangan mo malaman yung mga deductibles.. para malaman mo yung babayaran mo.. as i have said.. kung hindi naman masyadong malaki yung naiwan ng deceased, halos wala ka babayaran sa estate tax..

    eto yung basic..
    1. notify the BIR na namatay na si person A thru letter.. state kung kelan namatay (remember kahit patay, bibigyan yan ng TIN)
    2. prepare extra judicial settlement of estate among heirs.. document lang ito stating all assets ng namatay at kung kanino compulsory heir mapupunta.. remember kung real estate half share lang ng namatay ang hinahati..
    3. have it published
    4. collect mo yung receipts na nagastos nyo sa hospital or sa pag papalibing (alam ko sa new train law hindi na ito deductible)
    5. alamin mo yung standard deductible. (consult an accountant or lawyer)
    6. prepare mo yung statement..
    7. file mo all docs required ng BIR.. use e-bir forms

  5. Join Date
    Jan 2016
    Posts
    3,013
    #25
    Simplified na ang deductible, if tama ang tanda ko, 10M outright deduction, no questions asked, tapos ang tax ay 6% straight on net

    Edit: did some googling, 10M pala for family home, plus 5 M standard outright deduction

  6. Join Date
    Mar 2004
    Posts
    8,912
    #26
    Quote Originally Posted by papi smith View Post
    Simplified na ang deductible, if tama ang tanda ko, 10M outright deduction, no questions asked, tapos ang tax ay 6% straight on net
    Edit: did some googling, 10M pala for family home, plus 5 M standard outright deduction
    5M or medical+burial expenses ... whichever is lower ...

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Car inheritance