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Tax refund requirements for buying and selling houses within one year? What are the details below?
On September 30, 2022, the Ministry of Finance issued an announcement on the personal income tax policy to support residents to buy houses. According to the document, from June 10 in 2022 to February 3 1 day in 2023, taxpayers who sold their own houses and bought back their houses in the market within 1 year after selling their existing houses were given preferential tax refund.

Tax refund requirements for buying and selling houses within one year?

Taxpayers who enjoy the preferential policies stipulated in this announcement must meet the following conditions at the same time: they must meet two major restrictions: buying and selling houses must be in the same city, and sellers and buyers must be the same property owners.

1 The houses sold and repurchased by taxpayers should be within the same city, which refers to all administrative divisions under the jurisdiction of the same municipality, sub-provincial cities and prefecture-level cities (regions, states and leagues).

Taxpayers who sell their own houses must be directly related to the newly purchased houses and should be the owners or one of the owners of the newly purchased houses.

Among them, if the newly purchased housing amount is greater than or equal to the current housing transfer amount, all the paid personal income tax will be refunded; If the amount of newly purchased housing is less than the transfer amount of existing housing, the personal income tax paid for the sale of existing housing will be refunded according to the proportion of newly purchased housing to the transfer amount of existing housing. If the newly purchased house is a new house, the purchase amount shall be the transaction price indicated in the purchase contract signed by the taxpayer in the housing and urban-rural construction department; If the newly purchased house is a second-hand house, the purchase amount shall be the transaction price of the house.

Taxpayers who meet the conditions of preferential tax refund policies shall provide legal and effective purchase and sale contracts and other relevant materials required by the competent tax authorities, and apply for tax refund after examination by the competent tax authorities.