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Donor's Tax Scenarios and Calculations

1. The following would be subject to donor's tax: - Husband's donation to charity event of conjugal property with wife's consent - Taxpayer's donation to a political candidate's campaign fund - Donee signified acceptance of donated property before donor died even if delivery was after 2. To determine the gross gift and deductions: - For property valued at P1.5M donated with P300K mortgage assumed, the gross gift is P1.2M (P1.5M - P300K) and there are no deductions - For property valued at P1.2M donated with unpaid P150K taxes not assumed, the gross gift is P1.2M and

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14 views2 pages

Donor's Tax Scenarios and Calculations

1. The following would be subject to donor's tax: - Husband's donation to charity event of conjugal property with wife's consent - Taxpayer's donation to a political candidate's campaign fund - Donee signified acceptance of donated property before donor died even if delivery was after 2. To determine the gross gift and deductions: - For property valued at P1.5M donated with P300K mortgage assumed, the gross gift is P1.2M (P1.5M - P300K) and there are no deductions - For property valued at P1.2M donated with unpaid P150K taxes not assumed, the gross gift is P1.2M and

Uploaded by

Mohammad Hizam Ali
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd

ACT 184

Donor’s Tax
Practice
1. Determine whether or not the following is subject to donor’s tax

a. Husband donated conjugal property with the consent of the wife to charity event
(charitable institution’s administration expenses exceed 30% of the gifts)

b. Wife donated community property without the consent of the husband on occasion of
their legitimate child’s birthday (amount of gift is moderate)

c. Husband gifted his wife a diamond ring on occasion of her birthday

d. Wife gifted her husband a branded shirt of account of his birthday (amount is moderate)

e. Husband transferred some of his exclusive property to his wife, transfer to take effect after his death

f. Surviving spouse renounced his share in the conjugal partnership in favor of the heirs of the
deceased spouse

g. An heir renounced his share in the hereditary estate in favor of no one in particular

h. Taxpayer donated to the campaign fund of a candidate, duly reported to the COMELEC

i. Donee failed to indicate his acceptances of the donation before the transferor died

j. Donee signified his acceptance of the donated property known to the donor before he died,
delivery of the donated property done after the transferor died

2. Determine the amount of gross gift and deductions from the gross gift
GROSS GIFT DEDUCTION

a) Real property donated valued at P1,500,000 with


unpaid mortgage of P300,000 assumed by the donee

b) Real property donated valued at P1,200,000 with


unpaid real estate tax of P150,000 not assumed by the
donee

c) Real property donated valued at P1,500,000, the


donee agreed to assume the applicable donor’s tax of
P450,000

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