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02 Chapter 3 02 Property Relations Taxation 2

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02 Chapter 3 02 Property Relations Taxation 2

  1. 1. Taxation 2 │ GROSS ESTATE Property Relations Between Spouses FLABERT VILLASENCIO, CPA Notre Dame of Dadiangas University
  2. 2. Learning Objectives ▪Identify Property Relations between Spouses ▪Determine the difference between regimes ▪Determine the value of gross estate of spouses in different regimes.
  3. 3. System of Property Relationship ▪Absolute Community of Property ▪Conjugal Partnership of Gains ▪Complete Separation of Property ▪Any other Regime
  4. 4. Absolute Community of Property oWhere marriage happened AFTER August 3, 1988. oConsists of all the property owned by the spouses at the time of celebration of marriage and all acquired thereafter.
  5. 5. EXCLUDED from Communal Property oProperty acquired during marriage by gratuitous title and its fruits. Absolute Community of Property
  6. 6. EXCLUDED from Communal Property ▪Property use for personal and exclusive use. (Jewelry is a communal property) Absolute Community of Property
  7. 7. EXCLUDED from Communal Property ▪Properties acquired before the marriage who has legitimate descendants by a former marriage. Absolute Community of Property
  8. 8. Donation of Community Property by either Spouse oEither Spouse may dispose by will his/her interest oNeither may donate without the consent of the other oEither may donate in moderation without consent for charity or on occasions of family rejoicing and distress. Absolute Community of Property
  9. 9. Conjugal Properties oWhere marriage happened BEFORE August 3, 1988. oConsists of all properties acquired during the marriage.
  10. 10. oThose acquired by onerous title during marriage at the expense of common fund. Conjugal Properties
  11. 11. ▪Obtained from labor, industry, work of profession of either or both of the spouses. Example: Salaries, income from business. Conjugal Properties
  12. 12. oFruits during marriage from exclusive properties. oShare of either spouse from hidden treasure. oThose acquired through occupation. oLivestock income oThose acquired by chance Conjugal Properties
  13. 13. EXCLUDED to Conjugal Property oThat which is brought to marriage as her own. oThat which each acquires during the marriage by gratuitous title. oThat which is acquired by right of redemption. oThat which is purchased out of the exclusive money of either spouse. Conjugal Properties
  14. 14. oBoth spouses shall bear family expenses in proportion to their income, in case of insufficiency, to the current market value of their separate properties oTo each spouse shall belong all earnings and fruits due or received during the marriage oLiabilities to creditors for family expenses shall be solidary. Complete Separation of Property
  15. 15. Live exclusively with each other as husband and wife without the benefit of marriage or under a void marriage oEqual share oProperties are under co-ownership (even in the absence of proof) oA party who did not participate in the acquisition is deemed to have contributed jointly if his efforts are consisted in the care and maintenance of the family and the household oNeither party can dispose without the consent of the other until the termination of cohabitation Property Regime of Unions Without Marriage
  16. 16. 1. Suffer from legal impediments 2. Not exclusively living with each other oCommon ownership is limited to those which they have acquired through actual joint contribution oIn the absence of proof, shares are equal Property Regime in Cohabitation of Spouses (Incapacitated to Marry)
  17. 17. Summary Table A. No Agreement on Marriage Settlement Date of Marriage Regime BEFORE Aug.3,1988 Conjugal partnership of Gains ON or AFTER Aug.3,1988 Absolute Community of Property
  18. 18. Summary Table B. Acquisition by Gratuitous Title (Donation/Inheritance) Regime Before Marriage During Marriage 1. Conjugal partnership a. Principal Exclusive Exclusive b. Fruits Conjugal Conjugal 2. Absolute Community a. Principal Community Exclusive b. Fruits Community Exclusive
  19. 19. Summary Table C. Properties brought into/acquired during the marriage Regime Before Marriage During Marriage 1. Conjugal partnership a. Principal Exclusive Conjugal b. Fruits Conjugal Conjugal 2. Absolute Community a. Principal Community Community b. Fruits Community Community

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