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Topical query

16 November 2017

What factors need to be considered in a transaction where a seller sells his home for a purchase price reflected in the agreement of sale in crypto currency or foreign currency?

I.e. the purchase price is 29 BTC or the purchase price is $210,000.00:

  1. Are there any prohibitions against doing this?
  2. How do you calculate transfer duty?
  3. How do you reflect the purchase price in the draft deed?
  4. What tax implications need to be considered?

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