Tax on the purchase and sale of an apartment
The sale of real estate is a type of activity aimed at obtaining material income. The transaction is burdened with circumstances, for ignoring which civil liability is provided.
People planning to buy or sell an apartment should take into account such factors as fluctuations in the real estate market, the existence of an opportunity to get real discounts on mortgages when carrying out a purchase and sale transaction. This article will help you understand the situation.
When making a deal, the seller of his own real estate should remember that he will have to pay about 13% of the total amount to the state treasury. By modern standards, this is quite a lot of money that will have to be paid to the state budget.
Tax pressure can only be avoided by sellers of non-commercial real estate who own a house, summer cottage, apartment or garage for 3 years. The tax deduction rule is valid only in relation to owners, when the right to private property is registered before January 01, 2016.
If non-commercial real estate was acquired in 2016 and later, then, according to the new Federal Law of November 29, 2014, No. 382, ββtax deduction from real estate transactions will be governed by new rules.
Home sales tax is paid if:
The property has been in the property of the seller for less than the period specified in the new Law. The tax is paid in the amount stipulated by the articles of the rules
Tax-free housing purchased with personal capital and owned by the seller for more than 3 years is tax-free
Private real estate, inherited or under a donation agreement, is exempt from tax, while the object of sale must be in the possession of the seller for at least 3 years.
When selling a property, special attention should be paid to the cadastral value of a residential or commercial building. From January 01, 2016, the sale of housing, the cadastral value of which is determined by the municipal authorities on the basis of personal income tax calculations within 70% of the total cost of the object.
The amount of tax on the sale of an apartment depends on the starting price of the property. The amount of the deduction is determined by the condition when the cost of the object is over 1 million rubles. If the declared price of the apartment is less than 1 million rubles, then the sales tax is not charged.
When selling a home that has been owned for less than 3 years, the tax rate can be up to 30%. High tax conditions apply to sellers who are citizens of other countries. Persons who do not reside in the Russian Federation for less than 183 days during the year are considered non-residents of the country.
In addition, privileges do not apply to non-residents, tax deductions are not reduced by a maximum amount of up to 1 million rubles. The amount of deductions for the sale of an apartment owned for less than 3 years is reduced by the same amount.
The base volume is calculated from the appraised amount of real estate. So, for example, if a residential property is put up for sale at a cost of 2 million rubles, then half of the declared amount is taxed.
In cases where the apartment is owned by several residents, then tax deductions are made in one of two ways:
1. When shares in an apartment are combined in one agreement, the tax amount is divided between the owners in accordance with their share of ownership.
2. When the sale of shares in an apartment is carried out under separate agreements, each seller will have to contribute 1 million rubles to the state budget. However, this scheme is not legal and is prosecuted by state legislation.
Preferential terms
Apartment for sale
In cases where it is not possible to reduce the tax collection for the sale of an object, then you can take actions aimed at reducing the amount.
The Tax Code considers 2 options for preferential discounts:
1. Reduce the sales amount to RUB 1 million.
2. Reduce the amount at the expense of the costs allocated for the acquisition of real estate.
The payer can choose the working version of the tax payment at his own discretion. You can use the option as many times as transactions will be carried out after the expiration of the period of ownership of real estate provided for by the new Law.
Limitations on the cost of the sale of luxury housing and tax deductions are regulated by regional authorities, recognized to equalize the rights of citizens. For elite housing, the non-taxable base is 5 million rubles. The amount can be reduced in accordance with the prices of the local real estate market.
Apartment purchase
Buying non-commercial real estate is usually tax free. The tax burden is offset by a refund of the amount withheld with income tax on the transaction.
Who can use the benefits of personal income tax
All payers with official income are eligible for benefits.
Preferential terms do not apply to:
Students
pensioners with 3 years of experience
unemployed
women on maternity leave.
Users of a mortgage or other home loan can take advantage of preferential deductions. In addition to the principal purchase tax, they can get back up to 13% of the money paid.
The Federal Law of 2016 does not contain changes in relation to the tax refund on the purchase of non-commercial real estate, adopted in 2015.
Real estate tenure conditions
Owning an apartment, summer cottage or private house involves the deduction of property tax, the calculation of which is carried out at the cadastral value of the object. Until recently, the tax was calculated at the inventory value, which does not fully reflect the real market indicators.
For elite class housing, the cost of which, according to the Cadastre, exceeds 300 million rubles, the tax rate will be 2%. For an apartment from the housing stock, the tax rate will be 0.1%.
According to the Cadastral value for a 2-room apartment with an area of ββ60 m2, you will have to pay fees of about 1 thousand rubles. in year.