How to pay tax on buying a house now? Full analysis of the latest home purchase taxes and fees in 2024
Recently, home purchase tax policies have become a hot topic again. With the adjustment of property market policies in many places, home buyers have more and more questions about tax payment. This article will provide you with a detailed analysis of the current tax types, calculation methods and preferential policies involved in home purchase, helping you to easily deal with tax issues when purchasing a home.
1. Main taxes involved in purchasing a house
According to current policies, the following taxes are mainly involved in the house purchase process:
| tax type | tax rate | Collection objects | Remarks |
|---|---|---|---|
| Deed tax | 1%-3% | buyer | Depends on area and number of units |
| value added tax | 5% | seller | Exemption after 2 years |
| personal income tax | 1% or 20% difference | seller | The only exemption is for those over 5 years old |
| stamp duty | 0.05% | buyers and sellers | Residential exemption |
2. Detailed explanation of deed tax
Deed tax is one of the most important taxes in the process of purchasing a house. Its specific collection standards are as follows:
| House type | area | First home tax rate | Second house tax rate |
|---|---|---|---|
| residential | ≤90㎡ | 1% | 1% |
| residential | ＞90㎡ | 1.5% | 2% |
| non-residential | No limit | 3% | 3% |
3. Second-hand house transaction taxes and fees
Second-hand housing transactions involve more types of taxes. The following is the tax calculation under common circumstances:
| Real estate situation | value added tax | personal tax | Deed tax |
|---|---|---|---|
| Less than 2 years | 5% | 1% or 20% difference | According to the first/second set standard |
| More than 2 years but less than 5 years | exempt from tax | 1% or 20% difference | According to the first/second set standard |
| Over 5 years and unique | exempt from tax | exempt from tax | According to the first/second set standard |
4. Preferential tax policies for house purchase
In 2024, many places have introduced preferential tax policies for home purchases:
1.Talent house purchase subsidy: Some cities provide full or partial subsidies for the deed tax for high-level talents to purchase houses.
2.Multi-child family discount: Many provinces provide deed tax exemptions for families with two and three children when purchasing houses.
3.Improved housing discounts: Some cities provide deed tax incentives for "sell one, buy one" improved housing purchases.
4.Provident fund loan interest discount: Some areas provide interest subsidies to home buyers who use provident fund loans
5. Guide to tax payment process
1.New home tax payment process: Sign the contract → Apply for online signing → Pay deed tax → Apply for real estate certificate
2.Second-hand house tax payment process: Sign the contract → Fund supervision → Pay taxes and fees → Transfer registration
3.Materials required for tax payment: ID card, house purchase contract, real estate certificate (second-hand house), marriage certificate, household register, etc.
6. Special reminder
1. Policies may differ from place to place. Be sure to consult the local tax department before purchasing a house.
2. The tax calculation is based on the higher of the online signing price and the assessed price.
3. Some cities implement the "five-year-old only" tax exemption policy, which can save a lot of taxes and fees.
4. In 2024, some cities will pilot "transfer with deposit", which can reduce transaction links and tax costs.
Through the detailed analysis in this article, I believe you will have a clearer understanding of the current home purchase tax policy. Buying a house is a major event in life. Properly planning your tax expenses can make your journey to buy a house smoother. It is recommended that home buyers prepare a tax budget before making a transaction and consult tax professionals when necessary to ensure that the transaction is completed in compliance with regulations and law.
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