Real Property Gains Tax definition

Real Property Gains Tax means any
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Real Property Gains Tax means any state or local taxes similar to the New York Real Property Gains Tax prior to its repeal.
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Examples of Real Property Gains Tax in a sentence

  • Any liability arising out of the New York City Real Property Gains Tax, if applicable and due with respect to the Merger, shall be borne by the Company, as well as real property transfer taxes, if any, payable in any other jurisdiction where any of the Company Real Properties is situated.

  • All sales and transfer taxes relating to the transactions contemplated by this Agreement will be borne by the Clearview Group; provided however, that any Real Property Transfer Gains Tax (pursuant to Article 31-B of the New York Tax Code) (the "Real Property Gains Tax") will be paid and borne by the GG Group.

  • As such, the Parties hereby agree that neither the Vendor’s Solicitors nor the Purchaser’s Solicitors are obliged to retain any sum from the Balance Purchase Price for payment of any Real Property Gains Tax.

  • This is rental income tax, where you as the landlord are taxed for money you make from renting out your properties.Just as how you need to pay Real Property Gains Tax (RPGT) when you profit from selling a property, you need to pay rental income tax when you profit from renting out a property.Good news though! You can claim a 50% income tax exemption on your rental income.

  • However, in the 2nd half of 2011, the property sector performance was weighed down by the global equity market sell down in August, the underlying regulatory risks which involved minimal increase in Real Property Gains Tax under 2012 Budget and tightening of household lending by Bank Negara Malaysia effective from 1 January 2012.

  • In the event the Vendor fails or delays in submitting the Form CKHT 1 in respect of the Real Property Gains Tax ▇▇▇ ▇▇▇▇ resulting in a penalty being imposed on the late stamping of the Memorandum of Transfer, the Vendor shall be liable for any penalty incurred.

  • All transfer, documentary, sales, use, stamp, registration and other such Taxes and fees (including any penalties and interest) incurred in connection with this Agreement ("Transfer Taxes) shall be borne by the party on whom such Tax is imposed under the relevant law, except that the aggregate liability for any New York State Real Property Gains Tax and New York City Real Estate Transfer Tax shall be shared equally by Buyer and Seller.

  • The Company is a property developer and as such the disposal of the Sale Shares to the Purchaser by the Vendor will not attract any Real Property Gains Tax.

  • The Malaysia Company is not, and has not been since its incorporation, a real property company under the Real Property Gains Tax ▇▇▇ ▇▇▇▇ of Malaysia.

  • If the RPGT Retention Sum exceeds the Real Property Gains Tax payable in connection with the disposal of the said Property, the Vendor shall be responsible to recover the excess amount from the DGIR without recourse to the Purchaser or the Purchaser’s Solicitors.

Related to Real Property Gains Tax

  • Real Property Tax As used herein, the term "real property tax" shall include any form of real estate tax or assessment, general, special, ordinary or extraordinary, and any license fee, commercial rental tax, improvement bond or bonds, levy or tax (other than inheritance, personal income or estate taxes) imposed on the Premises by any authority having the direct or indirect power to tax, including any city, state or federal government, or any school, agricultural, sanitary, fire, street, drainage or other improvement district thereof, as against any legal or equitable interest of Lessor in the Premises or in the real property of which the Premises are a part, as against Lessor's right to rent or other income therefrom, and as against Lessor's business of leasing the Premises. The term "real property tax" shall also include any tax, fee, levy, assessment or charge (i) in substitution of, partially or totally, any tax, fee, levy, assessment or charge hereinabove included within the definition of "real property tax," or (ii) the nature of which was hereinbefore included within the definition of "real property tax," or (iii) which is imposed for a service or right not charged prior to June 1, 1978, or, if previously charged, has been increased since June 1, 1978, or (iv) which is imposed as a result of a transfer, either partial or total, of Lessor's interest in the Premises or which is added to a tax or charge hereinbefore included within the definition of real property tax by reason of such transfer, or (v) which is imposed by reason of this transaction, any modifications or changes hereto, or any transfers hereof.

  • Real Estate Taxes means the ad valorem real estate taxes levied against the Property (and the improvements and fixtures located thereon), betterment assessments, special benefit taxes and special assessments levied or imposed against the Property, taxes levied or assessed on gross rentals payable by Tenant to the extent charged, assessed or imposed upon tenants in general which are based upon the rents payable under this Lease, any impact fees levied or assessed, whether or not billed by the taxing authority as a special benefit tax or a special assessment, all taxes levied or assessed on the Property that are in addition to or in lieu of taxes that are currently so assessed, and penalties and interest related to Real Estate Taxes if the applicable Real Estate Tax bills have been forwarded to Tenant in a timely manner; provided, however, that Real Estate Taxes shall not include any Excluded Taxes. “Excluded Taxes” shall mean, without limitation, Landlord’s income taxes, gift taxes, excess profit taxes, excise taxes, franchise taxes, estate, succession, inheritance and realty transfer taxes resulting from the transfer of any direct or indirect interest in the Property by Landlord unless such taxes replace Real Estate Taxes in the future (except as expressly set forth in the last sentence of this Section 4(a)), and any interest or penalty charges resulting solely from Landlord’s failure to promptly deliver the Real Estate Tax bills to Tenant if the applicable taxing authority has forwarded the tax ▇▇▇▇ to Landlord rather than Tenant. All special benefit taxes and special assessments shall be amortized over the longest time permitted under ordinance and Tenant’s liability for installments of such special benefit taxes and special assessments not yet due shall be paid in full prior to the expiration or termination of this Lease; provided, that the useful life of any such improvements do not extend beyond the expiration of the Term. Tenant shall also pay, directly to the applicable Governmental Authority (as hereinafter defined), any storm water charges, fees and taxes and use and occupancy tax in connection with the Property or any improvements thereon (or in the event Landlord is required by law to collect such tax, Tenant shall pay such use and occupancy tax to Landlord as Rent within thirty (30) days of written demand and Landlord shall remit any amounts so paid to Landlord to the appropriate Governmental Authority in a timely fashion) and deliver evidence of such payment to Tenant within ten (10) days of making such payment or within ten (10) days of receipt of Tenant’s request for such evidence of payment.

  • Real Property Taxes shall also include any tax, fee, levy, assessment or charge, or any increase therein, imposed by reason of events occurring, or changes in Applicable Law taking effect, during the term of this Lease, including but not limited to a change in the ownership of the Industrial Center or in the improvements thereon, the execution of this Lease, or any modification, amendment or transfer thereof, and whether or not contemplated by the Parties.

  • Estate in Real Property A fee simple estate in a parcel of land.

  • Personal Property Taxes All personal property taxes imposed on the furniture, furnishings or other items of personal property located on, and used in connection with, the operation of the Leased Improvements as a hotel (other than Inventory and other personal property owned by the Lessee), together with all replacements, modifications, alterations and additions thereto.