The tax authorities have started sending out new payments. We are talking about the tax on residential real estate and commercial real estate. Next, let's look at how the real estate tax is calculated and who will be affected.
House and apartment tax - are there any differences?
The law on real estate tax has all the answers. And, according to its information, there is a real estate tax on non-residential premises. And, accordingly, residential ones as well. Unfortunately, it cannot be avoided even if you own only a part of the building.
The lucky ones who own
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an apartment of 60 m2 or more;
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a house of 120 m2 or more;
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an apartment and a house of 180 m2 or more
will receive a payment for the luxury tax on an apartment or other premises.
And the main question is: is the real estate tax on the total area or on the residential area? We note that we are talking about the entire area. However, you have to pay the tax not for each meter, but, so to speak, for the extra one. So how is everything calculated? It's very simple, for example, if an apartment is 80 m2, you only pay for 20 m2. The same scheme applies to houses.
Who pays real estate tax?
This financial burden will affect many people. It will be paid by the following:
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individuals, i.e. homeowners;
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legal entities that own some commercial premises.
And then there are the benefits. After all, disabled people, war veterans, families of fallen soldiers, and pensioners have their own discount. In general, everyone concerned with this topic should be interested in another question: how to pay real estate tax? In general, it is paid only once a year.
Differences in payment for individuals and legal entities
Commercial real estate tax must be paid in advance every quarter. And it has to be done by the 30th of the month. And housing tax must be paid in 60 days. They start from the moment you receive the letter. It's easy to make a payment. You can use your own account on the tax website. Or you can just use the details.
How to calculate the amount of real estate tax?
Many people are interested in what the real estate tax will be if they own two apartments. In this case, 60 m2 is still taken into account. For example, two apartments have a total of 100 m2. You will only have to pay for 40 m2. That is, for those meters that exceed the threshold. But how do you calculate the real estate tax for individuals? It's simple. All you need to do is calculate how many meters the apartment is larger than the permissible 60 m2.
Who doesn't pay real estate tax? The following have the right to avoid such payments:
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families with many children;
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single mothers;
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educational institutions;
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ATO participants.
Religious organizations are also exempt.
Real estate insurance
As you can imagine, now you need to take care of real estate tax for legal entities and individuals. You should also take care of insurance. After all, this is an opportunity to get coverage for losses from many disasters. Therefore, it is important to buy insurance for your apartment on our website.