1. Income obtained by individuals from transferring their own houses that have been used for more than 5 years and are the only living rooms for families shall be exempted from personal income tax.
2. Personal income tax payable by taxpayers who sell their own houses within 1 year after the sale of existing houses and intend to purchase houses at market prices. The specific way is: first, pay the tax deposit to the competent tax authorities. If the purchase amount is greater than or equal to the original housing sales, all the tax deposit will be refunded. If the purchase amount is less than the original housing sales, the tax deposit will be returned according to the proportion of the purchase amount to the original housing sales, and the balance will be paid into the state treasury as personal income tax.
Second, how to pay personal income tax on the sale of second-hand houses?
According to the individual income tax law, the income obtained by individuals from selling their own houses shall be taxed according to the item of "income from property transfer", and the tax rate is 20%. . At the same time, in order to promote the healthy development of China's housing market and standardize the collection behavior, the Ministry of Finance, State Taxation Administration of The People's Republic of China and the Ministry of Construction made clear provisions on how to levy personal income tax on individual housing sales income on February 2 1999, specifically in three situations:
1. The taxable income of individuals selling their own houses other than public houses shall be determined in accordance with the relevant provisions of the Individual Income Tax Law. That is, 20% personal income tax is paid according to the amount obtained from the transfer of property after deducting the original value of the property and reasonable expenses, and reasonable expenses refer to the relevant expenses paid when selling the property.
2. When individuals sell purchased public housing, the taxable income shall be the balance of the sales price of public housing sold by individuals, after deducting the affordable housing price of housing area standard, the house price originally paid exceeding the housing area standard, the income paid to the finance or the original property right unit and the reasonable expenses stipulated in the tax law.
3, at the cost price (or standard price) to sell workers to raise funds for cooperative housing, housing projects, affordable housing and resettlement houses, according to the purchase of public housing to determine the taxable income.