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Old May 9th, 2014, 04:00 AM   #81
Retz
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Quote:
Originally Posted by austin_hts View Post
This project been marketed in Malaysia now. Wonder if there are still many units left in the first two towers...

http://www.iproperty.com.my/property...minium-forsale

Few units left the last time I check for the Balmoral Place and all units in the Windsor Place has already been reserved.
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Old May 29th, 2014, 10:37 PM   #82
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Old June 4th, 2014, 03:52 AM   #83
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Old July 1st, 2014, 01:36 PM   #84
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Hello, is anyone here having issues with Monarch? They sold us last year a 1BR unit in Balmoral worth P3.5M inclusive of VAT, as per Reservation Application and as per agent sales talk, we have to pay VAT. I did not know about BIR threshold when they sold us the unit. If we remove the VAT component, the price will be below threshold and we should not pay VAT at all. I know there are others out there who are in the same situation as me.

VAT threshold is P3,199,200 effective January 2012 issued by BIR

Unit price: P3,503,584 inclusive of VAT
VAT portion of P3,503,584 is P375,384
The unit price without VAT then is P3,128,200 which is below the VAT threshold of P3,199,200

Your thoughts please.. Is my analysis wrong?
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Old July 2nd, 2014, 05:00 AM   #85
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Originally Posted by YoungInvestor View Post
Hello, is anyone here having issues with Monarch? They sold us last year a 1BR unit in Balmoral worth P3.5M inclusive of VAT, as per Reservation Application and as per agent sales talk, we have to pay VAT. I did not know about BIR threshold when they sold us the unit. If we remove the VAT component, the price will be below threshold and we should not pay VAT at all. I know there are others out there who are in the same situation as me.

VAT threshold is P3,199,200 effective January 2012 issued by BIR

Unit price: P3,503,584 inclusive of VAT
VAT portion of P3,503,584 is P375,384
The unit price without VAT then is P3,128,200 which is below the VAT threshold of P3,199,200

Your thoughts please.. Is my analysis wrong?
Your unit should be Non-VAT. CTS and schedule of payment should reflect that your unit is non-vat. Kindly contact your agent or Anchorland for clarification on this.
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Old July 2nd, 2014, 07:25 AM   #86
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Thank you, Retz.. I already did. But Anchorland is saying to me that we are not paying VAT and will adjust the amount in the CTS. I dont get it, really. Anchorland actually sent me a CTS with 80% of the purchase price, no mention of VAT. 20% of the purchase price is additional document for the furnitures and appliances. They said they do this to minimise tax. Is this legal at all?

Anchorland is insisting that we are not paying VAT but the Reservation Application we signed was for P3,503,584 (VAT inclusive)
I am confused? Am I understanding this wrongly? Does VAT inclusive meant, the P3.5M unit price has VAT component or it hasn't?

My agents and sale director who sold the unit us have resigned from Anchorland and now working for SMDC. They ditched us after getting theit quota, I supposed :-(

Last edited by YoungInvestor; July 2nd, 2014 at 07:30 AM.
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Old July 2nd, 2014, 08:39 AM   #87
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Originally Posted by YoungInvestor View Post
Thank you, Retz.. I already did. But Anchorland is saying to me that we are not paying VAT and will adjust the amount in the CTS. I dont get it, really. Anchorland actually sent me a CTS with 80% of the purchase price, no mention of VAT. 20% of the purchase price is additional document for the furnitures and appliances. They said they do this to minimise tax. Is this legal at all?

Anchorland is insisting that we are not paying VAT but the Reservation Application we signed was for P3,503,584 (VAT inclusive)
I am confused? Am I understanding this wrongly? Does VAT inclusive meant, the P3.5M unit price has VAT component or it hasn't?

My agents and sale director who sold the unit us have resigned from Anchorland and now working for SMDC. They ditched us after getting theit quota, I supposed :-(

Furnitures and appliances should already be included in the unit price package. I have yet to encounter a developer who separates the price for the unit and furnitures. Ridiculous.
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Old July 2nd, 2014, 09:36 AM   #88
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I don't know about the other developers if they also separate the cost of the furnitures although it is quite common that other developers do try to avoid this VAT threshold by shifting some of the expense to miscellaneous charges or whatever charges they call it. In this case, their palusot may have some logic after all since furnitures technically are not part of the unit itself but is only packaged in such a way that will make the price of the unit seems more reasonable. Anyway, it is tough sometimes to feel like we have been had, but your consolation is that the lowest cost right now in Monarch is above 4m already, which means you have already turned in some paper profits. And yes, it is VAT inclusive. Good luck!
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Old July 2nd, 2014, 12:23 PM   #89
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I am just shaking my head here..
the more I read the Anchorland CTS, the more I do not wish to sign it, ha! ha!
It is scary, mate!
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Old July 3rd, 2014, 02:11 AM   #90
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Is it standard to have a clause in the CTS that states the developer is not liable to any defective workmanship, design, materials? Should we sign the CTS at its current form? Can you actually ask developer to modify the CTS? I contacted Anchorland and they are adamant that this standard and they will not change the CTS for me. I am not comfortable signing a disclaimer like this.

Last edited by YoungInvestor; July 3rd, 2014 at 02:23 AM.
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Old July 3rd, 2014, 04:04 AM   #91
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Normally I though there should be warranty of your unit to be free from defect and workmanship?
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Old November 19th, 2014, 01:32 PM   #92
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NOTICE TO ALL BUYERS OF ANY ANCHORLAND PROJECT !!!!
It has turned out that in their other projects the majority of the units do NOT have the size stated in the CTS. They are 5-10% smaller, but Anchorland did not inform their clients about the decreased floor area of their units. I recommend every buyer to have their units remeasured by a public surveyor. Especially at Solemare Parksuites (just beside Monarch) many units have decreased floor area. Anchorland is not even willing to provide a floor plan with dimensions to the unit owners.
Lawsuits have been filed already.
BE AWARE AND DONT LET THEM CHEAT YOU.
I also agree with YOUNG INVESTOR and RETZ regarding the VAT issue.

Last edited by Solemare_Resident; November 25th, 2014 at 08:45 AM.
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Old December 4th, 2014, 03:39 AM   #93
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Old Yesterday, 12:46 PM   #94
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