I. Cost of housing grants and household transfers
Business tax. In accordance with the current temporary regulation of the turnover tax and the relevant provisions of its implementing regulations, a non-reimbursable grant of real estate or land use rights by an individual or an entity to another unit or individual is deemed to be taxable. In principle, the grantee is subject to a turnover tax at a rate of 5 per cent。
Two. The surcharge is payable on the basis of a percentage of the turnover tax due (7 per cent) and additional fees (3 per cent)。
3. Recipients of gifted properties are required to pay the full amount of the tax due, which is paid at 3 per cent. Legal basis: in accordance with article 4 of the rules for the application of the provisional regulations of the people's republic of china on taxes, land-use grants, housing grants are approved by the collecting authority by reference to the market price of the sale of land-use rights and the sale of houses。
4. The full payment is made by the contracting parties at a rate of 0. 05 per cent of the house。
Five. Personal income tax is exempt from payment for property gifts between close relatives and persons who have relationships, as well as for inheritance and acquisition of property。
Ii. Contributions for general housing
1. If the property does not need to be bought or sold again later, then the gift is chosen, so that only the tax is paid: 3 per cent of the house, the cost of mapping: 1. 36 yuan/simmy, the cost of registration of tenure and the cost of taking evidence: 150 dollars, the fee: 0. 3 per cent. However, 20 per cent of the amount is payable in the event that the property is subsequently traded。
If the property is sold for a second time, then only 1. 5 per cent of the contribution tax, $1. 36 per cent of the survey fee, 1 per cent of the tax and 5. 5 per cent of the turnover tax differential are payable. A tax may be withheld if the transfer is made at the original price. The grant is small, but by way of gift, the recipient is required to pay 20 per cent of his personal income tax for the subsequent sale of the house。
Iii. Equipment of house business business and costs on housing
1. A number of citizens who are currently buying housing have the same idea of avoiding some costs with gifts. In practice, however, it does not save money. Of course, if the house is sold for less than five years from the last transaction, it would be more profitable to pay a turnover tax。
Taxes and taxes: $us 1050 (three thousandths of the value of the transaction), $280 registration fee, $us 10,500 tax, totalling $11830. Reminds the public that property gifts and notaries are more risky, and even if the buyer has paid, there is no liability to the seller because of the nature of the gift, which would entail some economic loss for the buyer, if the gift was abandoned before the transfer。
3. In practice, in the form of house transfers, the sale is the most common and easier to operate and safer. A first-time purchaser may be granted a different benefit depending on the size of the purchase. Moreover, the seller is subject to a turnover tax when the house is sold less than five years away。
4 taxes: houses bought and sold after more than five years, no turnover tax, 1 per cent tax (first-time house purchase) $3,500, personal income tax (35-25)*20 per cent = $2,000, transaction fees $420, registration fees $80. A total of $24,000. Reminder: the costs vary from case to case in the way the transaction is made. In terms of the nature of the house, the transaction fee varies from $6 per square metre to $3 per square metre and $1. 5 per square metre, plus a registration fee of $80。
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Documentary recommendation: model cash gift agreement
