In 2020, the immediate family property transfer will be tax-free.

1. There are three main ways for parents to transfer their property to their children: buying and selling, giving and inheriting. Among them, the tax on donation is relatively low, but the tax on resale is relatively high. The way of buying and selling, although the tax is relatively high, is relatively low when reselling. If it is transferred through inheritance, it needs to happen when one parent dies.

2. Procedures for transferring immovable property to children:

Parents who transfer their property to their children need to bring property ownership certificate, real estate license, purchase contract, ID card, household registration book and other materials to the Housing Authority for change registration. After the Housing Authority evaluates the real estate, the donor will issue a new real estate license after paying the transfer tax and other fees, and the real estate will be turned into the personal property of his children.

Legal provisions: Announcement of the Ministry of Finance and State Taxation Administration of The People's Republic of China on Individual Income Tax Items Applicable to Individual Income Tax.

One, individuals to provide security for the unit or others to obtain income, should be calculated according to the "accidental income" project to pay personal income tax.

Second, if the real estate owner gives the real estate to others free of charge, the donation income obtained by the donee from the donated house shall be subject to personal income tax according to the "accidental income" item. According to Article 1 of the Notice of the Ministry of Finance of State Taxation Administration of The People's Republic of China on Personal Income Tax on Individual Donation of Houses (Caishui [2009] No.78), neither party shall collect personal income tax in any of the following circumstances:

(1) The property owner gives the property to the spouse, parents, children, grandparents, grandparents, grandchildren, grandchildren, brothers and sisters free of charge;

(two) the owner of the house property gives the house property to the supporter or the supporter who has the direct maintenance or maintenance obligation;

(three) after the death of the owner of the house property, the legal heir, testamentary successor or legatee who has obtained the house property according to law.

Donation income mentioned in the preceding paragraph shall be calculated according to the provisions of Article 4 of the Notice of the Ministry of Finance of State Taxation Administration of The People's Republic of China on Individual Income Tax on Individual Donation of Houses (Cai Shui [2009] No.78).