Opportunity to reduce multi-family transfer tax… If you have a house for a long time and get a big profit, brush it off first. [WEALTH]

As soon as the Presidential Takeover Committee announced a policy to exclude capital gains tax for multi-homeowners immediately after taking office, the ‘counting method’ for multi-homeowners seems to be complicated. As the transition committee announced on the 31st of last month to defer the transfer tax for multi-family owners for one year, the number of inquiries about transfer tax consultations has risen sharply, so it seems that the concerns of multi-homeowners to find the best ‘tax saving plan’ will deepen. When the transfer tax is eased, it was found that the higher the tax savings effect is, the more the multi-homeowners sell ‘houses that have been held for a long time and have a large profit margin.’

According to a simulation conducted by tax accountant Park Myung-gyun, CEO of tax accountant on the 29th, if the transfer profit is 1.2 billion won, the transfer tax can be reduced by more than 560 million won. The simulation was conducted on a hypothetical multi-family homeowner who owns three apartments in Seoul, Gyeonggi-do, and Guri and Hanam.

According to the current Income Tax Act, 20% of the basic transfer tax rate (6-45%) is imposed for two-family homeowners in the area subject to adjustment. Third-family homeowners receive a 30% penalty. In addition to local tax, if the transfer profit exceeds 1 billion won, a maximum of 82.5% is paid as tax.

On the other hand, if heavy duty is excluded, only the maximum basic tax rate of 45% is applied. If you hold it for more than 3 years, you can even receive a special deduction for long-term holding that is applied differently depending on the period. Assuming that the Seoul apartment acquisition price and transfer price are 800 million won and 2 billion won, respectively, if heavy transfer tax is applied, 915.9 million won of the 1.2 billion won in transfer gain is paid as tax. Under the current tax system, the special deduction for long-term holdings cannot be applied, which increases the tax burden. When the heavy transfer tax is eased, the tax will be greatly reduced. Assuming that the holding period of an apartment in Seoul is less than two to three years, the transfer tax is 520.82 million won, which is 395.17 million won less than the 915.99 million won in tax.

If the long-term holding special deduction is applied for more than 15 years, the tax amount will be reduced to 347.98 million won. This is because those eligible for the special deduction for long-term holding can deduct up to 30% of the gains on transfer. In this case, about 568,011 million won in tax savings can be seen.

The tax saving effect was found to decrease as the transfer profit decreased.

Assuming that the acquisition price of the house in Guri is 400 million won and the transfer price is 800 million won, 278.13 million won out of the 400 million won in transfer gains is paid as transfer tax. If you hold the house for more than 15 years after the heavy transfer tax has been eased, the transfer tax will be 94.65 million won, which is a decrease of 183.48 million won compared to before the easing. If the long-term holding special deduction is not applied, the tax after easing is expected to be 146.96 million won. Assuming that Hanam’s housing transfer gains are 130 million won, the current tax rate is 74.77 million won. If the transfer tax is deferred, the tax will be reduced from 17.68 million to 32.69 million won depending on the holding period. Tax accountant Park said, “Recently, inquiries regarding transfer tax from multiple homeowners are increasing. If you are a multi-homeowner, selling a house with a large transfer profit and a long holding period is the most advantageous in terms of tax savings. “This measure will be a good opportunity for multi-family homeowners who have a heavy tax burden as the property tax is also significantly reduced,” he explained.

In principle, it is a principle to sell a ‘house with a long holding period and a large transfer difference’, but it has been pointed out that if the house you currently live in falls under this category, you should think about the order of selling multiple houses once more. This is because, depending on the area where the housing is located, in order to receive the ‘one-house tax exemption’ benefit, one must live in the house for two years from the time it becomes one house.

Woo Byeong-tak, head of the real estate team at Shinhan Bank’s WM Consulting Center, said, “Considering tax-free benefits, selling the house you currently live in has the greatest tax saving effect. It’s better to sell,” he said.

The timing of the sale should also be considered. Team leader Woo advised, “Even if the transfer tax is deferred, you should not sell it in the same year.

As the next government showed a strong will for the multi-family transfer tax and temporary exclusion, the number of apartments for sale in Seoul increased compared to before the presidential election. According to real estate big data company Asil, as of the 27th, there were 55,716 apartments for sale in Seoul, up 11.14% (5585) from the 51,131 on the 9th of last month, the day of the presidential election. Compared to the 31st of last month, when the transition committee officially announced the transfer tax in progress, the number of items for sale increased by 8.1% (4179 cases). It is interpreted that some multi-homeowners are selling their houses early as there is a high possibility that the number of properties for sale will increase if the transfer tax is implemented with the inauguration of the new government. In addition, the government will reduce the burden of holding taxes such as property tax and comprehensive real estate tax when a multi-homeowner completes the registration of ownership transfer before June 1 and becomes a single-family homeowner. It is expected.

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