1 Fair Marker Value 2,000,000

Selling Price 1,200,000

C 800,000

2 Family Home = subject to CGT

C 0

3 Cost of the property upon the completion of the condition

C 700,000

4 Value of the property when Don Bosco waived his right.

C 2,500,000

5 Value of the property upon the completion of the condition 2,500,000

Amount Paid by the Donee 1,000,000
C 1,500,000

6 Residential lot is subject to CGT

A 0

7 Fair Market Value 5,000,000

Selling Price 3,000,000
C 2,000,000

8D

9D Share in estate is subject to donor's tax if specifically renounced. Share in communal property is subject

10 C Share in communal property is subject to donor's tax both specific and general renunciation.
ommunal property is subject to donor's tax for both specific and general renunciation.

eral renunciation.
 1D 2,200,000 Non-resident citizen is taxable on global donations.
2C 1,200,000 Taxable only on donations within the Philippines
3B 900,000 Cash is considered an intangible asset
4D 900,000 Taxable on global donations
5C 500,000 Taxable on donations within
6C 8,000,000 Taxable on properties located within the Philippines
7A 0 Properties located within are intangible assets
8B
9A 0 Taxable on donations within
10 D 3,000,000 Reciprocity applies to Non-Resident Aliens
11 C 2,500,000

Donation to irrevocable trust 1,200,000

Direct donation to sister 500,000
1,700,000
revocable donation is not a perfected donation
donation to wife is prohibited
12 C