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With reference to the gap between the declared purchase value and the sale price, I don't suppose there is any "forgiveness" on properties that were bought some time ago. It the past, it actually was the common practice for buyers and sellers to declare a lower purchase value. Over the last 2 years it seems there has been a push to change this practice. Why can't the private sale contract between the 2 parties be used as the declared price for capital gains calc? The private contract shows the real price paid for the property. We pay for the public notary's stamp on it - and yet it is not a legal declaration of the transaction value? Has anyone tried to put that one through?
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