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Date: 2 weeks ago   Category: Realty

Sale of housing after three years of possession will not be taxed?


The State Duma adopted the bill which softens the tax law in the first reading. How the new rule will be reflected in life of Russians and whether amendments to fight against speculators will help? Photo: depositphotos.com the State Duma adopted the bill directed to improvement of the tax law in the first reading. In particular, the document reduces from five to three years the minimum term of possession of the only housing after which the real estate will not tax with the income tax any more. However, mitigation will concern only the only housing of the citizen. It is supposed that the norm will help many families to improve the living conditions: instead of payment of a tax they will be able to direct money for payment of a mortgage or repair. In 2016 the term of tenure was increased up to five years, however in practice this toughening of measures against speculation in the housing market was not repaid, noted the managing partner of Irvikon consulting group Irina Vishnevskaya. Irina Vishnevskaya the managing partner of Irvikon consulting group "Suppression of buying up of apartments at a construction stage was one of factors of an innovation of 2016. Then a huge number of houses stood it seems as finished, but they were bought up as investment apartments. The state tried to stop these speculative operations with the real estate when it was bought for the purpose of resale. As practice showed, it did not bring any additional stimulation of a mortgage, it did not bring to the budget of any significant injections too therefore now actually everything falls back into place. Even for purchase of the real estate of economy class, for example the family buys the one-room or two-room apartment in a mortgage, pays it on average somewhere from two to five years. At the birth of the second child, for example, there are ideas about expansion of family, this apartment should be sold, bought new. When there is such restriction, 13% even from 5 million or 10 million rubles are the sum, very essential to any budget of family, therefore in principle it is quite logical course in terms of simplification of tax burden for the population. We already pay also a tax from cadastral cost". At the same time the realtor Alexander Harybin is sure that this measure not too beats speculators — they find roundabout ways. Alexander Harybin is a realtor "Speculators there are people clever, they anyway found different opportunities to leave from all these things or somehow in a different way to come on the market. As always: all these things become for speculators, and beat ordinary people. They, probably, understood it, realized and decided to return three-year term. Especially for the only housing. If I earned money, bought the apartment to myself and, respectively, I want to sell in two years it more expensively why five more years to keep waiting for me? It already absolutely as it seems to me, search". Innovations which facilitate "communication" of citizens with tax specialists are also provided in the bill. After the introduction of changes Russians will be able to submit documents on tax benefits on a Torah to force

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