The Ministry of Finance proposed to save the tax for the sale of real estate up to 2.4 million rubles

The Ministry of Finance proposed to save the tax for the sale of real estate up to 2.4 million rubles  

The Ministry of Finance has prepared and submitted to the government a bill on changes in the tax system.

The Russian Ministry of Finance has decided to keep the previous tax rate on the sale of real estate worth up to 2.4 million rubles. This is great news for those who plan to sell their property in the near future.

Now the current tax rate for sold real estate remains at the level of 13% to the amount of 2.4 million rubles. In addition, if the value of your property is higher than this amount, then the rate will be 15%. This means that most property owners will be able to maintain a lower tax rate when selling their property.

In addition, the privilege that allows not paying tax on income received from the sale of personal property, if it is owned within the minimum established time limits, remains unchanged. This is a great opportunity to save on taxes and get the maximum benefit from the sale of the property.  

It is assumed that the innovations will be adopted by the State Duma in the current spring session and will enter into force on January 1, 2025. This gives enough time to prepare and plan the sale of real estate, taking into account the new tax rules.

It is important to note that personal income tax from the sale of real estate will be applied to the net financial result, and not to the entire income from the sale. This means that when selling real estate, the amount of income received can be reduced by the cost of buying it, and tax will be paid on the difference between them. This important clarification will help you correctly calculate tax liabilities when selling real estate.

Thus, the new tax rules provide certain advantages for property owners and allow them to save on taxes when selling property. Do not forget also about the benefit in the form of exemption of income from the sale of property of individuals when meeting the minimum terms of ownership. This benefit is maintained in full regardless of the size of the taxpayer's income.

We hope this information will be useful to you. Taking into account the new tax rules, you will be able to plan the sale of your real estate more consciously and minimize tax costs. If you have any questions or need help with calculating taxes, contact specialists who will help you understand all the intricacies of the new rules.

We wish you a successful sale of real estate and good luck in all your financial affairs!