How to calculate the amount of tax rebate for residents to exchange housing?

　　Our reporter Sun Wei

　　New Deals in the property market are frequent and positive.

Recently, in order to support residents to improve their housing conditions, the Ministry of Finance and the State Administration of Taxation issued the "Announcement on Individual Income Tax Policies for Supporting Residents to Exchange Housing" (hereinafter referred to as the "Announcement"), which stipulates that from October 1, 2022 to December 2023, During the period of March 31, for taxpayers who sold their own houses and repurchased their houses within one year after the current houses were sold, the personal income tax paid for the sales of their current houses will be refunded.

So, who can enjoy the tax rebate policy?

How much can I get back?

How does it work?

"China Consumer News" reporter conducted an interview.

　　What are the specific requirements for tax refund

　　In terms of time requirements, the "Announcement" stipulates that the tax rebate policy will be implemented from October 1, 2022 to December 31, 2023. If you sell an old house during this period and then buy a new house within one year, you can Enjoy tax refund.

For example, Xiao Wang sold a house in December 2022 and re-purchased a house in the same city in July 2023, because Xiao Wang sold and bought a new house from October 1, 2022 to December 2023. during the 31st of March, so it meets the time conditions specified in the policy.

　　In terms of beneficiaries, the "Announcement" stated that taxpayers who enjoy preferential policies must meet two conditions at the same time: First, the houses sold and repurchased by taxpayers should be within the same city limits, and the same city limits refer to the same municipality, All administrative divisions under the jurisdiction of provincial-level cities and prefecture-level cities (regions, states, and leagues).

Second, there must be a direct relationship between the taxpayer who sells his own house and the newly purchased house, and should be the property owner or one of the property owners of the newly purchased house.

　　Where can consumers apply for a personal income tax refund?

The "Announcement" pointed out that taxpayers who enjoy the personal income tax refund policy for residents' replacement of housing should apply to the competent tax authority that collects personal income tax on income from the transfer of existing housing.

Chen Xilin, an analyst at the Tongce Research Institute, told the China Consumer News reporter that this means that consumers should apply for tax refunds to which tax authority they paid their personal income tax when they sold their house.

At present, most taxation departments implement a one-window processing system for real estate registration taxes and fees. Under normal circumstances, taxpayers should pay the personal income tax on the income from the transfer of the current house in the local government service hall or real estate trading hall. Therefore, they should still go to the government service hall or The real estate trading floor filed a tax refund application.

　　How to calculate the tax refund amount

　　Tax rebates can be obtained for the exchange of housing, which is a real benefit for buyers.

How is the tax refund amount calculated?

How much can I get back?

　　Zhang Bo, president of 58 Anju Room Real Estate Research Institute, told the reporter of "China Consumer News" that according to the requirements of the "Announcement", if the amount of the newly purchased house is greater than or equal to the transfer amount of the current house, the tax refund amount = the personal income tax paid when the current house is transferred. ; If the amount of the newly purchased house is less than the transfer amount of the current house, the tax refund amount = (the amount of the newly purchased house ÷ the transfer amount of the current house) × the individual income tax paid when the current house is transferred.

　　For example, Xiao Wang sold a house for 2.4 million yuan in December and paid 40,000 yuan in personal income tax.

In July 2023, it repurchased a house in the same city, and the amount of the newly purchased house was 3 million yuan.

Then, the 40,000 yuan tax that Xiao Wang has paid can be fully refunded. The calculation method is: tax refund amount = personal income tax paid when the current house is transferred.

If Xiao Wang purchased a new house for 1.5 million yuan, the tax refund amount that can be applied for is 25,000 yuan.

The calculation method at this time is: (the amount of the newly purchased house ÷ the transfer amount of the current house) × the personal income tax paid when the current house is transferred.

　　Xiao Li and Xiao Ma jointly hold a house, each accounting for 50% of the property rights.

If they want to sell the old house to buy a new house, how should the tax refund amount be calculated for the sale of the house held by multiple people?

At this time, the amount of the taxpayer's current housing transfer or the amount of newly purchased housing should be determined according to the taxpayer's share of property rights.

　　For example, in January 2023, Xiao Li and Xiao Ma transferred the house at a price of 2 million yuan, and each paid 20,000 yuan in personal income tax.

In May of the same year, Xiao Li re-purchased a house in the same city at a price of 1.5 million yuan. When Xiao Li applied for a tax refund, the transfer amount of his current house was 1 million yuan (2 million yuan × 50% = 1 million yuan). The amount of the house purchased is 1.5 million yuan, and the tax refund amount = the personal income tax paid when the current house is transferred = 20,000 yuan.

　　In July of the same year, Xiaoma and others jointly bought a house for 2 million yuan in the same city, and Xiaoma accounted for 40% of the property rights.

When Xiaoma applies for tax rebate, the current housing transfer amount is 1 million yuan (2 million yuan × 50% = 1 million yuan), and the newly purchased house amount is 800,000 yuan (2 million yuan × 40% = 800,000 yuan), tax refund Amount = (Amount of newly purchased house ÷ Amount of transfer of current house) × Personal income tax paid when transferring current house = 80/1 million yuan × 2 = 16,000 yuan.

　　How to define the time of house buying and selling

　　The "Announcement" has clear requirements on the implementation time for residents to apply for tax rebates for replacement housing. So how to define the time for selling old houses and buying new ones?

　　Chen Xilin said that the "Announcement" also made it clear that the time to sell existing houses is subject to the time of personal income tax payment when the taxpayer sells the house.

If the newly purchased house is a second-hand house, the time for the purchase of the house is subject to the tax payment time of the deed tax when the taxpayer purchased the house or the registration time stated in the real estate certificate; if the newly purchased house is a new house, the time for the purchase of the house is subject to the time of filing the housing transaction contract. allow.

　　In response to the impact of this policy on the market, Zhang Bo told a reporter from China Consumer News that the current preferential tax policy only involves personal income tax, and the value-added tax in the process of real estate transactions is also a considerable expense.

For many self-occupied home improvement properties, income tax plus value-added tax and intermediary fees may account for 12% to 15% of transaction costs in high cases.

If the value-added tax can be adjusted and the transaction threshold can be further lowered, the demand for improved property buyers will enter the market faster.

　　In addition, industry experts remind consumers that if the housing transaction contract for newly purchased houses is terminated, revoked or invalidated and other reasons lead to no longer eligible for the tax rebate policy, it should be within the next month after the contract is terminated, revoked or invalidated. Within 15 days, take the initiative to return the refunded tax to the competent tax authority.

If the taxpayer pays the tax refund overdue, the tax authority will impose a late payment fine according to law.

The tax department will strengthen the management of tax refund review and tax refund after contract cancellation by sharing information with the housing and urban-rural development department.