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Also we're talking about the same property being valued...

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dolcevita

14,265 Posts.

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02/03/19

18:37

Post #: 37631808
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Originally posted by spinner2: ↑

If he stated the value was high, when seeking loans that would be fraud. If he stated the value was low, when seeking lower tax, that would be fraud

Mmm! I was under the impression that for tax purposes a property is valued at the purchase price less all depreciation costs and for loan purposes valued at market price which would include an implied capital gain.

The capital gain would be liable for tax when realised. Also a private bank loan based on market value is usually based on a bank valuation and not on Trumps word.

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Also we're talking about the same property being valued differently for different contexts. Can you see how that's a bad look legally?
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