The total analysis: how does the 2024 lease tax work?
Deed Tax is a property tax levied on the owner of the property in the event of transfer of land or housing rights. As a large part of the cost of buying a house, knowing the tax policy will save you tens of KiloCell of dollars of real money and silver.
1. Updated tax collection criteria
According to the current policy in 2024, the tax rates are determined mainly by the number of “family housing units” and “household building area”:
| Type of housing | Area 90 m2 | Area > 90 m2 |
|---|---|---|
| Family suite | 1% | 1.5% |
| Family Suite II | 1% | 2% |
| Three and above/ non-residential | 3% | |
Why is the 90 square metres boundary?
90 SqM is a watershed in the national definition of the “small and medium household type”. The policy aims to reduce the financial burden on people who have just bought a flat by encouraging new and improved households to buy compact housing at a differentiated rate.
3. Common error zones in the payment of tax dues
- Payment time: Payment is usually made before the issuance of the real estate certificate (a major certificate), rather than the date of the contract. However, many development chambers have received them and have recommended that the destination of the funds be confirmed.
- Base figure for calculation: Taxes are calculated as “tax-based prices”, and tax authorities may levy assessment prices if the contract price is clearly lower than the market assessment price.
- Non-residential projects: Non-residential products such as apartments, shops, writing buildings, etc., are usually flat 3% tax, regardless of size, and do not benefit from the relief policy.