The Tax Reform for Acceleration and Inclusions (TRAIN), or Republic Act (RA) 10963, has already commenced. It was signed into law last December 19, 2017, and became effective last January 1.
Aside from revisions in the income, excise, and donor’s tax rates, there are also changes in the estate taxes.
This, needless to say, will make a ripple in the real estate industry, and whether you work in this field or whether you plan to purchase a townhouse for sale in Scout Area, it’s essential that you familiarize yourself with how this new legislative act will transform the real estate landscape.
If you’re bewildered, then you’ve come at the right place. Here are some of the changes and the effects of the TRAIN LAW to real estate.