Real Estate Taxation (Capital Gains and Purchase) Law (Amendment – Purchase Value) Bill
Translated from Hebrew: הצעת חוק מיסוי מקרקעין (שבח ורכישה) (תיקון - שווי רכישה)
TL;DRThe bill changes the definition of the purchase value of a residential apartment, in order to deny reduced purchase tax on construction agreements signed as a condition for receiving the property.
Translated from Hebrew
What does the bill do?
The bill amends the Real Estate Taxation (Betterment and Purchase) Law regarding the purchase of a right in land designated for a residential apartment, when the buyer is bound by an agreement for construction services. The bill provides that in such a case, the purchase value for tax purposes will be the sum of the value of the right in the land and the capitalized value of the construction services in the agreement. This amendment is meant to ensure that apartment buyers who are bound by construction agreements as a condition of the purchase will not benefit from the usual reduced purchase tax discount for residential apartments, and will pay the purchase tax in full on the total amount.
The votes on this bill
Coalition 62 seats
Left the coalition 14 seats
Opposition 44 seats
Tap an MK for detailsChanged position between readingsOnly MKs who held a seat on the day of the vote are shown