Officially: families with children were exempted from personal income tax when selling land

CrimeaPRESS reports:

Families with two or more children will not have to pay personal income tax when selling land plots with houses and outbuildings. «RIA Real Estate». The relevant law was signed by Russian President Vladimir Putin. This will help reduce the tax burden on families who want to improve their living conditions.

When selling such real estate, families will not need to pay tax, regardless of the period of ownership of the land. Now you do not need to pay personal income tax when selling real estate if the property was privatized, inherited, accepted as a gift, or received under a life maintenance agreement with a dependent, and the property has been owned for at least three years. The same rules apply to single dwellings. In other cases, the minimum period of ownership of real estate is five years.

Now families with two or more children under the age of 18 are exempted from paying personal income tax when selling an apartment, residential building, room, share in a residential building, regardless of the period of ownership, if they purchase new housing in the same year. According to the new law, families will also be exempt from personal income tax when selling a land plot with a residential building and outbuildings. Income received from the sale of a plot with a house cannot be used in business activities.

The law is valid from the date of its official publication. It applies to income received from the 2023 tax period.

source: CYANOGEN

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