Yesterday (2 december), on the first working day of the official landing of the policy of tax reduction on the purchase of houses, according to a 9 p. M. Query by a journalist, the 12 real estate registration centres in guangzhou city were fully booked except for the white cloud area。
12 trade registration centres in guangzhou
It's all full on 4-12
On 13 november of this year, the ministry of finance, the general tax administration and the ministry of housing, urban and rural construction issued a bulletin on tax policies for the smooth and healthy development of the real estate market, and the state tax administration administration issued a bulletin on the reduction of the floor of the advance rate of land value-added tax, all of which announced a tax reduction policy effective 1 december 2024。
With regard to the tax, the size standard, which had previously enjoyed a low tax rate of 1 per cent, was raised from 90 square metres to 140 square metres, and it was clarified that four cities in beijing, shanghai, guangzhou and shenzhen could apply the tax credit policy for the second home, which covers more than 140 square metres, with the first home being taxed at 1. 5 per cent and the second at 2 per cent。
In the area of vat, following the cancellation of the standard for ordinary and non-ordinary housing in the cities concerned, vat is waived for all purchases of personal housing for more than two years (including two years) and the provisions of vat for purchases of non-ordinary housing for more than two years in four cities in beijing, shanghai, guangzhou and shenzhen have been suspended accordingly. Within 10 days of the communication from the three ministries, the four largest cities in the north have responded to the new deal by announcing the abolition of the luxury tax, which was also implemented on 1 december。
Following the implementation of the new deal, the purchase of household types with more than 90 m2 or more will be subject to a reduction in the corresponding tax rates in the case of mail transfers; at the same time, the corresponding area and two-year-old housing will not only save the tax on the deed, but even the tax on the luxury. It is for this reason that the citizens who have recently purchased the house are waiting for the new deal to be implemented before they can process the transfer。
On the morning of 2 december, the founder of a trading platform, zheng daegen, went to the city of guangzhou real property registration online reservation system, intended to make an appointment for the next few days and found the multi-district transaction registration centre to be full of online appointments。
Journalists went to the city of guangzhou real property register online reservation system after 9. 30 a. M. On 2 december, and attempted to make an appointment to register stockroom transactions. It was found that on 2 december, with the exception of the white cloud real estate registration centre, which had a total of 30 appointments from 11 to 5 p. M., all 11 centres had been filled。
On the morning of 3 december, upon enquiry, only the white cloud area, the chemical zone and the southern sand area had some residual numbers。
From 4 to 12 december, all 12 reservation centres were fully booked。
The total price is over $6 million
They're saving up to $400,000
According to sources operating a mortgage company in guangzhou, three cases of transactions were registered by its department on 2 days, all of which had been closed before registration only after a tax reduction had taken place. In one case, there was a two-bedroom, “a tax of 3 per cent, now only 1 per cent, saves two points”. According to the information received, the buyer purchased a total of more than $5 million for a total of less than 140 square metres and directly saved over $100,000 in tax fees。
Li sheng, the head of a property broker in yosoo district, told the press that during the week of the new deal for tax relief, the number of appointments was very tight and that “all the late november sheets were postponed”。
Li sheng explained that in a transaction to be registered in mid-december, the commercial property was the source of a unit housing unit on the leading road in the yutsu district, with a surface of over 150 square metres at a price of about $6. 4 million. Prior to the new deal, the seller was subject to vat of 5. 3 per cent; the buyer had two sets, 3 per cent before the policy and 2 per cent after the new deal, a decrease of 1 per cent. This is equivalent to a total of 6. 3 per cent savings of nearly $400,000 in taxes and fees for both buyers and sellers following the new deal。
“both of them have a lot of tax cuts, and they are happy.” li sheng indicated that while second-hand transactions were largely tax-based for the buyer market at present, after both buyers and sellers were able to obtain tax cuts, both parties were trying to reach a deal, which was slightly less difficult。
Zheng daegen reminds that, in the course of taxing transactions, the first or second flat must provide the family member's identity documents, the household register and the marriage certificate。
