Can one sell a property under its value to a private company, i.e:
Property is worth R2 000 000 belonging to party “A”, Party “A” then sells the property to Private company “B” for R300 000
1) Would the property then form part of the companies stock, as it is a property development company, thus, excluding it from transfer duties?
2)Would Party “A” be subject to property gains tax if they initially bought the property for R 300 000
Any help would be greatly appreciated.