1. Calculation method of residential transaction tax.
When making a residential transaction, there are certain taxes and fees that need to be paid. The exact calculation of these taxes varies from country to country. In China, the calculation method of residential transaction tax mainly includes the following aspects:
1.Deed. Deed tax is one of the main components of residential transaction tax, which is generally levied according to a certain percentage of the size of the house and the transaction**. According to the latest policy, if an individual purchases the only house of the 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 rate will be reduced by 1Deed tax is levied at a rate of 5%. If an individual purchases a second improved house for a family with an area of 90 square meters or less, the deed tax shall be levied at a reduced rate of 1%; If the area is more than 90 square meters, the deed tax shall be levied at a reduced rate of 2%.
2.Personal income tax.
Personal income tax is also a tax that needs to be paid in residential transactions, and is generally levied on a certain percentage of the income from the transfer. According to the latest policy, the income obtained by individuals from the transfer of a house for self-use for more than 5 years and which is the only living house of the family will continue to be exempted from individual income tax.
3.Vat.
VAT is an additional tax that needs to be paid in residential transactions, generally according to 56% levy. According to the latest policy, if an individual sells a house that has been purchased for less than 2 years, he or she will pay VAT in full at the rate of 5%; Individuals who will purchase housing for more than 2 years (including 2 years) are exempt from VAT.
4.Stamp duty.
Stamp duty is a small tax that needs to be paid in residential transactions, generally according to 005% levy.
2. Factors influencing residential transaction taxes.
The calculation method of residential transaction tax is affected by a variety of factors, mainly including the following aspects:
1.The size and value of the home.
The size and value of the home is one of the main factors affecting the tax on residential transactions. Generally speaking, the larger and more valuable the home, the more taxes you have to pay.
2.Deed tax incentives.
The preferential deed tax is also one of the factors affecting the tax on residential transactions. Different regions and different time periods have different deed tax incentives, so the deed tax that needs to be paid is also different.
3.Individual income tax policy.
The personal income tax policy is also one of the factors affecting the tax on residential transactions. The impact of the individual income tax policy on the tax of residential transactions is mainly reflected in the following aspects:
First of all, the personal income tax policy will affect the actual purchasing power of home buyers. If homebuyers are subject to higher personal income taxes, then there will be less money that can actually be used to buy a home, which will affect their purchasing decisions and ability to pay. Therefore, when formulating the residential transaction tax policy, it is necessary to consider the impact of the individual income tax policy to avoid excessive pressure on the burden of home buyers.
Second, the personal income tax policy will affect the decision-making of home sellers. Sellers are subject to personal income tax, and if the tax rate is too high or there are other restrictions, they may choose not to sell or postpone the sale. This affects the volume of the residential market, which in turn has an impact on house prices and transaction volumes. Therefore, the individual income tax policy also needs to take into account the interests of property sellers, formulate a reasonable tax policy, and promote the stable and healthy development of the market.
Finally, personal income tax policies can also influence investors' decision-making. Investors need to consider the return on investment and the cost of taxes when buying a home. If the cost of taxes is too high, investors may choose not to invest or look for other ways to invest. This will affect the investment demand in the residential market, which will have an impact on house prices and transaction volumes. Therefore, the individual income tax policy also needs to take into account the interests of investors, formulate reasonable tax policies, and promote the stable and healthy development of the market.