I. Tax treatment of real estate donated by immediate family members
In China, the gift of real estate between immediate family members is regarded as a kind of property transfer, and related taxes and fees are usually paid. The specific tax treatment methods may vary according to different regions and policies, but generally speaking, both donors and recipients need to declare and pay taxes in accordance with relevant regulations.
For donors, the main taxes and fees to be paid may include personal income tax and deed tax. Personal income tax is calculated according to the value of donated property and the donor's other property status, while deed tax is determined according to the assessed value or transaction price of the property.
For the donee, although it is not necessary to pay the fee directly to the donor, after accepting the gift, if the property is sold again in the future, it may be necessary to pay land value-added tax and other related taxes.
Second, matters needing attention in tax treatment
In the tax treatment of real estate gifts between immediate family members, we need to pay attention to the following points:
1, understand local tax policies and regulations, and ensure that the declaration and payment are made according to correct procedures and standards.
2. Before the real estate gift, it is best to consult a professional tax agent or lawyer to get more detailed and accurate tax advice.
3. Ensure the legality and authenticity of the gift, and avoid legal disputes and tax risks caused by false gifts or tax evasion.
To sum up:
The gift of real estate between immediate family members needs to pay certain taxes, and the specific tax treatment method needs to be determined according to the local tax policy. When making a real estate gift, you should understand the relevant tax regulations and precautions to ensure legal and compliant tax declaration.
Legal basis:
Individual Income Tax Law of the People's Republic of China
Article 2 stipulates that individual income tax shall be paid on the following personal income: …… (9) Income from property transfer; ……
Interim Regulations of People's Republic of China (PRC) Municipality on Deed Tax
Article 1 stipulates that units and individuals that transfer the ownership of land and houses within the territory of People's Republic of China (PRC) are taxpayers of deed tax and shall pay deed tax in accordance with the provisions of these Regulations.
Interim Regulations of People's Republic of China (PRC) Municipality on Land Value-added Tax
Article 2 stipulates that the units and individuals who transfer the right to use state-owned land, the above-ground buildings and their attachments (hereinafter referred to as real estate transfer) and obtain income are taxpayers of land value-added tax (hereinafter referred to as taxpayers) and shall pay land value-added tax in accordance with these regulations.