In the current situation in china, there are three main types of home transfer: inheritance, gift and sale. The costs of each of these three approaches vary. So, what is the most cost-effective way of moving? In an effort to help clear this account, the sheep night reporter interviewed chen yuzhi, the house manager, and li tai chi, the second-hand senior analyst。
For ease of calculation, because of the related factors of tax fees and the length and size of the purchase of the property at the time of the transfer, one 80 square metres of ordinary housing worth 3 million, and two 152 square metres of non-ordinary housing worth 6. 9 million, both of which have reached five years of age and are the only。
Method i. Succession
1. Calculation
The amount of taxes and fees involved in inheriting property is related to the value of the house and whether it is legal heir or not, and not to the fact that the house is full of five sole and non-general residences。
(1) inheritance of 3 million houses, as described above, at a cost of 10,000 yuan for housing assessment costs + 254,000 yuan for notary costs + 80 yuan for registration fees + 5 yuan for stamp duty = $3505
(2) inheritance transfer with the above-mentioned 6. 9 million houses at a cost of $19. 75 million for housing assessment costs + $4. 14 million for notary costs + $80 for registration fees + $5 for certificate stamp duties = $61430
Note: in general, children are legal heirs to the assets of their parents, who are exempt from tax liability, and therefore inherits a substantial amount of tax liability less than in the form of gifts. Similarly, property acquired through inheritance, bequests, is exempt from personal income tax and business tax, with only the payment of notary fees and work capital。
2. Certification at the time of processing
(1) notarialization of inheritance rights
Place of processing: notary office, premises
Provide information on: a certificate of death of the heir; a certificate of title to the house; a household register or other documentation proving the relationship of the heir to the legal heirs; identity documents of the heirs; a certificate from the legal authorities on the list of legal heirs; an original will of the original owner of the home if there is a will; and a certificate of commitment to renounce property if some legal heirs voluntarily renounce their inheritance。
(2) registration of housing transfer
Location: guangzhou city real estate centre
Provide information on: application for registration of real estate; original certificate of identity; original certificate of title to real estate; notarial instrument of inheritance or certificate of will and acceptance of bequest; original tax clearance certificate。
Reminder: inheritance of notaries cannot be done and must be done in person。
3. Taxes and charges for the re-sale of inherited property
(1) three million ordinary dwellings have reached the age of five years and only one dwelling is exempt from tax; in the case of two or less five, the seller is required to pay a tax of 300*1 = 30,000; and in the case of the sale of a permit for less than two years, the total price of the house is 3 million ÷10. 5* 5. 6 = 160,000 vat. (note: the two-year period of this certificate also begins with the date of purchase of the pre-inheritance house, not the date of succession)
Thus, in case 1, where the inheritance property was resold (full of five and sole), the seller was exempt from a tax; the buyer was required to pay a survey fee of $108. 8 + assessment fee of $15,000 + tax on the deed (based on the first suite) of $30,000 + commission fee of $85, for a total of about 452,000。
(2) in the case of non-ordinary dwellings of 6. 9 million, the only one tax is exempt from payment of vat for non-ordinary dwellings. The tax is 6. 9 million ÷10. 5*5. 6% = 368,000。
Thus, the seller in case 2 was required to pay a total of 368,000 vat for the resale of inherited non-ordinary dwellings; the buyer was required to pay a survey fee of $206. 7 + assessment fee of $34. 5 million + deed tax of $207,000 (or 3 per cent) + commission fee of $85, and the buyer was required to pay a total of approximately $2384,000。
Analysis: inheritance of property requires a certificate of death of the parents, so that the parents are unable to inherit the household at the time of their life and can only secure the ownership of the property by making a will, with the advantage of having the minimum tax and expense, the disadvantage of proving the complexity of the procedure and the fact that the house is not to be moved until the parents have passed away。
Methodology ii. Grants
1. Calculation
The amount of taxes and fees involved in the grant has some bearing on the value of the house, whether it is related to the immediate family, whether the house is full of five soles and whether it is not a common home。
(1) the costs incurred in carrying out gifts in the case of 3 million houses include $10,000 for the assessment of houses + $254,000 for notarization costs + $80 for registration fees + $90,000 tax, approximately $12. 5。
(2) inheritance transfer in the case of $6. 9 million, at the cost of: $19. 75 million for assessment costs of houses + $4. 14 million for notary costs + $80 for registration fees + $5 for certificate stamp duties + 20. 7 million for tax charges, approximately 26. 82 million
Note: the parents generally have a home of more than five years and is a gift between close relatives, thus exempt from vat and personal income tax. However, there is a 3 per cent tax premium on gifts compared to inheritance, and in fact the difference between the costs of inheritance and gifts is mainly due to the tax。
2. Certification at the time of processing
The parents bring together the identity card, the family register, the marriage certificate, the home title certificate, the paternity certificate and the children, the identity card, the household register, the marriage certificate, to the local notary office for the notarization of the deed, and then to the local property register office for the transfer of the property to the family name。
Reminder: the notarization of gifts cannot be done and must be done in person at the notarial office
3. Taxes and fees associated with the re-sale of property granted
Thus, in case 1, where the inheritance property was resold (full of five and sole), the seller was exempt from a tax; the buyer was required to pay a survey fee of $108. 8 + assessment fee of $15,000 + deed tax (based on the first suite) of $30,000 + registration fee of $80, for a total of about 452,000。
As a result, the seller was required to pay a total value added tax of approximately $368,000 in the resale case 2 and the buyer was required to pay a survey fee of $206. 7 + assessment fee of $34. 5 million + deed tax (3 per cent) of $207,000 + commission fee of about $2384,000。
Analysis: the sale of the gift, like the sale of the house and the sale of the inherited house, is subject to the normal rate of taxes and fees; the amount of the tax involved in the gift has some bearing on the value of the house, whether it is the only five or not and whether it is not a non-general home, but not on the grant of a direct relative。
Method iii. Sale
1. Calculation
(1) the costs incurred for the purchase and sale of 3 million houses in the case include: 80 yuan for registration fees + 1% for tax fees of 30,000 + 109 for mapping fees, approximately 301,000 yuan。
(2) the purchase and sale of 6. 9 million houses in the case covers the costs of 80 yuan registration fees plus 3% tax fees of 207,000, or approximately 207,000 yuan。
Note: the purchase and sale of houses may be carried out directly without a notarized permit, and the transfer of gifts and inheritances shall be subject to a notarized procedure and an additional notarized fee. The assessment fee is charged by the company, the loan is assessed for the purchase of the house, and the entire transaction is not evaluated. The purchase and sale of a household property is subject to the normal transaction rate for second-hand homes, while the sale and sale between parents and children is subject to the savings of notary fees。
2. Certification at the time of processing
The original identity card of the parents and children, the household register, the marriage certificate, the payment of taxes and fees, the contract for the purchase of the property, the land certificate, etc. The directorate of housing, where the premises are located, handles the procedures。
Reminder: intermediaries usually charge around 2% of the house price
3. Taxes and fees involved in the re-selling of property that has been bought or sold
(1) three million ordinary dwellings have reached the age of five years and only one dwelling is exempt from tax; in the case of two or less five, the seller is required to pay a tax of 300*1 = 30,000; and in the case of the sale of a permit for less than two years, the total price of the house is 3 million ÷10. 5* 5. 6 = 160,000 vat. (note: the two-year period of this certificate also begins with the date of purchase of the pre-inheritance house, not the date of succession)
Thus, in case 1, where the inheritance property was resold (full of five and sole), the seller was exempt from a tax; the buyer was required to pay a survey fee of $108. 8 + assessment fee of $15,000 + deed tax (based on the first suite) of $30,000 + registration fee of $80, for a total of approximately 452,000。
(2) in the case of non-ordinary dwellings of 6. 9 million, the only one tax is exempt from payment of vat for non-ordinary dwellings. The tax is 6. 9 million ÷10. 5*5. 6% = 368,000。
Thus, in case 2, the resale of a non-ordinary residence, the seller was required to pay a total value added tax of approximately $368,000; the buyer was required to pay a survey fee of $206. 7 + assessment fee of $345,000 + deed tax of 207,000 (or 3 per cent) + registration fee of $80, and the buyer was required to pay a total of approximately $238,800。
Analysis: from the point of view of saving money, in the case of ordinary dwellings, the parents do not pay their children the least if they do so through intermediaries and by selling or buying them, and the two parties go directly to the real estate trading centre and are primarily liable for a 1 per cent tax. In the case of non-ordinary dwellings, the purchase and sale of household deeds tax is higher, and the way in which a household is inherited saves a large amount of tax and fees, mainly notary fees. However, the transfer can only be effected after the owner's death。
However, whether by inheritance, gift or by buying or selling a house to a child, the tax on resale is charged to the normal second-hand house trading standard, and the tax rate is related to the fact that the property is five sole and non-ordinary。
