Basic data for the purpose of calculating praise
- Buying an apartment in Israel
Before we get deep into the issue, I would like to explain that to calculate the appreciation tax, we must use several facts, including the date of sale of the apartment.
Here I will note the difference regarding the date of sale of the apartment as determining the actual tax liability and the possibility of postponing the date of payment of the tax under section 51 and section 91 of the Real Estate Tax Law.
The price of the apartment (section 17 of the Real Estate Taxation Law), the value of the apartment at the time the seller purchased it (mainly section 21 of the Real Estate Taxation Law), and the date on which the same apartment was purchased (section 37 of the Real Estate Taxation Law).
In addition, it is advisable to collect and concentrate the allowable expenses less the appreciation to reduce the charge in the appreciation tax.
All the above data, except for the concentration of expenses, are simple, and if necessary, real estate tax offices can be used to obtain missing data regarding the date and value of the purchase of the apartment sold.