The limits apply to the sale of a certain type of property in one year. For example, if a seller sells two cars in one year, the tax deduction for two cars will be 250 thousand rubles, not 500 thousand rubles. The same rule applies to housing and land.
This method can also be used in situations where expense documents are available, but the amount of expenses is less than the limit established by law. The seller has the right to determine whether to reduce the income from the sale by expenses or by a tax deduction.
Let’s say you built a house on a plot paytm data of land you inherited. In this case, the costs of purchasing building materials and paying the builders are taken into account. Such expenses cannot always be documented, or their amount will be less than the income from selling the house with the plot. Then it is more appropriate to use a tax deduction – it can fully cover the amount of income and you will not have to pay any tax.
Reduction of income from the sale of children’s property shares due to parental expenses
When buying a home using homer mcknight uitvoerende hoof maternity capital, children are required to be allocated shares in it. Otherwise, the family risks losing not only the maternity capital, but also the apartment.
When the mortgage is paid off and the encumbrance on the property is lifted. The parents are obliged to allocate shares to the children within 6 months. This can be any percentage of the apartment. The minimum period of ownership of property brazil data for children begins from the moment of registration of their right to real estate. The beginning of the minimum established period for parents is counted from the moment of their purchase of the apartment.
Reduction of income due to expenses
When selling children’s shares before the established minimum ownership period, the income from the sale of the property is subject to taxation. Its size can be reduced by deducting the parents’ investments in the purchase of the apartment. The amount of expenses that is taken into account depends on the size of the share allocated to the children.
Reduction of income on the tax base when donating
In case of receiving an apartment or house as a gift, it is necessary to pay value added tax. It is calculated based on the cadastral value of the housing. This rule applies to any property received as a gift from someone other than a close relative.
When selling such real estate, the income received from the transaction can be reduce by. The amount of the tax deduction. But if the deduction has already been applied during the year for the sale . Of other objects, then it cannot be use.
The Bank of Russia has decided not to temporarily impose restrictions on the total cost of credit (TCC) for mortgages for banks, the. Central Bank of the Russian Federation portal reports . This decision will allow financial institutions to set interest rates on loans taking into account the economic situation. It is expected that thanks to this, housing in new buildings will remain affordable to the population.