Jurong Hotline Today Jurong’s policy on house purchase deed tax subsidy

New policies on real estate deed tax in 2016. On February 19, the three ministries and commissions jointly issued a new policy, which will adjust the preferential policies for deed tax and business tax in real estate transactions starting from February 22. During the implementation period of the new deed tax preferential policy, anyone who declares and pays real estate transaction deed tax to the tax authorities on or after February 22, 2016 and meets the tax preferential conditions stipulated in the new policy can enjoy the preferential tax rate.

According to the provisions of the new national policies, if an individual purchases the only home for a family with an area of ??90 square meters or less, the deed tax will be levied at a reduced rate of 1; if the area is more than 90 square meters, the deed tax will be levied at a reduced rate of 1.5 Deed tax. If an individual purchases a second improved house for a family with an area of ??90 square meters or less, the deed tax will be levied at a reduced rate of 1; if the area is more than 90 square meters, the deed tax will be levied at a reduced rate of 2. Among them, the second improved house for a family refers to the second house purchased by a family that already owns a house. In addition, if an individual sells a house that has been purchased for less than 2 years, the full business tax will be levied; if an individual sells a house that has been purchased for more than 2 years (inclusive), the business tax will be exempted.