问答题

问答题 (a) State, giving reasons, whether Richard will be subject to income tax or capital gains tax on any gains arising from the sale(s) of the two houses. (3 marks)

问答题 (b) State, giving reasons, whether it would be preferable for Richard to be subject to income tax or capital gains tax on any gains arising from the sale(s) of the two houses. (5 marks)

问答题 (c) State the relevant contract tax (RCT) obligations on Richard in relation to this development. (2 marks) Note: in relation to all three parts of this question you should assume that current law will continue to apply.