On January 1, changes to tax legislation came into force in Russia related to the calculation of personal income tax (PIT) in real estate transactions. Their list is published on the website of the Federal Tax Service (FTS).
- In the 3-NDFL declaration, it is now possible not to indicate income from the sale of real estate until the expiration of three or five years of ownership, if the income from the sale does not exceed the amount of the tax deduction. Those who sold an apartment or a house at a price of 1 million rubles have the right to it. or below. “If the income from the sale of property exceeds the amount of deductions, the 3-NDFL declaration will still have to be submitted,” the Federal Tax Service noted.
- When acquiring rights to housing or a share in it in a house under construction, the right to a property tax deduction arises from the date of transfer of the shared construction object by the developer and signing of the transfer act. “In this case, the taxpayer has the right to apply for a deduction after state registration of ownership of real estate,” the FTS recalled.
- Families with children are now exempt from paying personal income tax when selling real estate, regardless of the period of ownership of this property. However, this provision only applies to income received from the sale of housing in 2021.
The last paragraph requires compliance with a number of conditions, however, it also applies to cases where a minor child receives income from the sale of an object of property.
Another change concerns the minimum holding period for real estate acquired under a share agreement. It is counted from the moment of full payment of the cost of the object under such an agreement.
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