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Mr. John Jones a pensioner has four sons and four plots of land in Guyana. Mr....

Mr. John Jones a pensioner has four sons and four plots of land in Guyana. Mr. Jones is giving (deed of gift) each son one plot in equal shares however, he is retaining life interest on the lot with his youngest son. You are asked to advise Mr. Jones on the requirements for a transfer of the lots and the procedure used to acquire a change of ownership. Using any suitable examples of your choice to illustrate, show how to calculate his capital gains/loss?

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ekkarill92 answered 2 years ago
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Mr. John Jones a pensioner has four sons and four plots of land in Guyana. Mr. Jones is gifting through deed of gift each son one plot in equal shares however, he is retaining life interest on the lot with his youngest son. Using any suitable examples of your choice to illustrate, show how to calculate his capital gains/loss if any?
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