The Tax Code has been amended: it will become easier to sell apartments with capital capital

In August, amendments were made to the Tax Code regarding the minimum period of ownership of children’s shares in residential premises, recalled RGR legal expert Ekaterina Gornova. She clarified that the minimum period of ownership is the period after expiration when selling real estate there is no need to pay personal income tax. For a single residence this period is 3 years, for other residential real estate — 5 years.

The tenure of housing is calculated from the date of registration of ownership or payment under a share agreement. If maternity capital is used to purchase housing, children are allocated shares later than parents. Since the tenure period is counted from the date of registration of ownership of the share of each family member, several years may pass between registration of parents and children. As a result, when selling housing, parents do not pay their share of personal income tax, but are forced to pay 13% tax on the sale of their children’s shares.

According to the amendments, from 2025, if housing was purchased using maternal capital, and then children’s shares were allocated, the tenure of housing for children and parents will be calculated from the same date. This rule will apply to income that a family receives from the sale of a home in 2024 or later.

source: CYANOGEN