Society ,
Jan 01, 04:28
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The law on zero tax on the sale of housing for families with children came into force
Families raising two or more minor children will be able to avoid paying tax on income from housing sold from January 1, if the money was spent on improving housing conditions. In total, they need to fulfill five conditions
Photo: Marcel Kusch / DPA / TASS
In Russia, a law has come into force, according to which families with two or more children should not pay income tax, which is associated with the improvement of housing conditions, according to the website of the State Duma.
The law applies to income from the sale by such families of an existing apartment, room, residential building or shares in them, which were spent to buy a new home. However, the term of ownership of residential real estate will not matter, since the law allows it to be sold even to recent owners.
“As Vyacheslav Volodin, Chairman of the State Duma, explained earlier, the law is given retroactive force. According to him, this rule will apply to income from the sale of apartments received starting from January 1, 2021, ”the lower house of parliament said in a statement.
The auditors counted families that are no longer young in the queue for housing
Previously, in the event of the sale of a property, Russians had to pay a tax on personal income of 13%. The legislation allowed for a number of exceptions, mainly in cases where the owner had owned the apartment for more than five years. If the apartment was received in the course of privatization, under contracts of lifelong maintenance with dependence, donation from a close relative or by inheritance, the period of ownership of real estate for the possibility of a tax-free sale was reduced to three years. In addition, since 2020, a rule has been introduced that provides for the absence of tax if the property being sold is the only home of the seller.
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