China Offers Tax Breaks to Home Buyers, Finance Ministry Says

  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 31 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 97%

United States News News

United States United States Latest News,United States United States Headlines

China's finance ministry on Friday unveiled tax breaks for people who sell their homes and repurchase another within a year, a move that could push more...

China's finance ministry on Friday unveiled tax breaks for people who sell their homes and repurchase another within a year, a move that could push more homeowners to upgrade their housing as the property downturn continues.

Taxpayers' personal-income tax can be fully refunded if the value of their newly purchased home is greater than, or equal to, the value of the home sold, according to a statement published on the ministry's website. The tax breaks will be eligible from the beginning of 2024 to the end of 2025, it said. The rules are only applicable to homes purchased and sold in the same city, it added.

New mortgage-easing rules were also rolled out by Chinese regulators Friday to let more home buyers have lower mortgage rates and down payments, the state-run Xinhua News Agency reported.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in US

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

| Elon Musk is acting like he wants to break his own companyHow much can Elon Musk 'improve' the app formerly known as Twitter before it breaks?
Source: MSNBC - 🏆 469. / 51 Read more »