CAPITAL GAINS TAXATION

Problem 1.

A taxpayer sold his residential house under the following terms: Cash received, January 23, 2018 P2001000 Amount received, June 23, 2018 100,000 Installment due, June 10, 2019 6001000 Cost 150,000 Mortgage assumed by buyer 200,000 Determine the following 1. Selling Price 2. Contract Price 3. Initial Payment 4. Percentage of Initial Payment over Selling Price 5. Capital Gains Tax due for 2018 On July 1, 2019, Jamie sold shares of stock for P400000. The shares acquired, on May 28, 2017 at a cost of P150000 were held as investment, and were sold directly to buyer under the following terms: Down payment 50,000 Installment Due, September 26, 2019 50,000 Installment Due, September 26, 2020 150,000 Installment Due, September 26, 2021 150,000 Question: How much is the capital gains tax due in 2019