Hi guys, did anyone do the 2016 PM mock? I am wondering why the answer only calculate 5 years for the wealth tax as the property was bought 2 years ago and is ready to sell 5 years later. Why don’t we use 7 years to calculate the wealth tax for the sale of the property?
Where do all you guys get the 2016 PM mock from? (Plus: Do you have more?)
this seems like the case with the country Izlandia and Landlochen, is it? (ps, this case is available in online Practice from cfai candidate resources)
if so, the solution to this question is correct (at least the online version of it). the answer is 3,345,500 (this calculates wealth tax from 7 years of ownership)
Yes, it is the case with the country Izlandia and Landlochen.
Maybe my version of mock is not the latest, cause my mock solution states that “After applying 30% appreciation, the 1.5% per year wealth tax, and the two capital gains taxes (local source Landlochen and residential Weshvia using the credit method to calculate), the net proceeds are €3,432,500”
Thank you for your help!