Core Viewpoint - The article outlines the optimization and adjustment of personal housing property tax policies in Shanghai to better meet residents' housing needs and promote stable development in the real estate market [2][3]. Group 1: Eligibility for Tax Exemption - Eligible non-local residents include high-level talents and urgently needed talents in key industries who hold a Shanghai residence permit and work in the city, as well as homebuyers who have held a residence permit for over three years and work in Shanghai [4]. - For first-time homebuyers in Shanghai, property tax will be temporarily exempted if the new home is the family's first property [4]. - For second or additional homes, if the average housing area per family member does not exceed 60 square meters, the new home will also be exempt from property tax; if it exceeds 60 square meters, tax will be calculated on the excess area according to existing regulations [2][4]. Group 2: Tax Refunds for New Homebuyers - Homebuyers who hold a Shanghai residence permit for less than three years will initially pay property tax according to existing regulations, but can receive refunds for taxes paid on eligible properties once they meet the three-year requirement [3][4]. - The tax refund applies to both the first home and the portion of the second home that meets the area requirement during the residence permit holding period [4]. Group 3: Implementation Timeline - The new policies will take effect from January 1, 2025, and homebuyers can apply for tax refunds for any overpaid taxes after this date [5].

Core Viewpoint - The Shanghai government has announced an optimization adjustment to the personal housing property tax pilot policy, aimed at supporting housing consumption and balancing tax burdens between local and non-local residents [1][2][3] Group 1: Policy Details - The new policy allows certain high-level talents and long-term residents to be exempt from property tax on their first home purchase in Shanghai [1] - For second homes, families can benefit from a tax exemption if their combined housing area does not exceed 60 square meters per person [1][2] - The policy will take effect on January 1, 2025, and those who have already purchased taxable housing can apply for tax refunds if they meet the new criteria [2] Group 2: Market Impact - The adjustment is part of the broader "825 Shanghai Housing Policy" and aims to equalize tax obligations for local and non-local residents, potentially lowering the holding costs for non-local buyers [2] - The policy reflects a commitment to support reasonable housing consumption demand, with recent market activity showing positive trends in Shanghai's real estate sector [3] - Financial and tax policies are expected to further stimulate housing consumption in the market [3]

Core Points - Shanghai has announced an optimization and adjustment of the personal housing property tax pilot policy, effective from January 1, 2025, which includes tax exemptions for certain qualified individuals [1][2][3] Group 1: Policy Details - Individuals holding a Shanghai residence permit and working in the city, including high-level talents and urgently needed talents, will be exempt from property tax on their first home purchased in Shanghai [1] - For second homes and beyond, if the combined area of all family housing does not exceed 60 square meters per person, the new purchase will also be exempt from property tax; if it exceeds, tax will be calculated on the excess area [1][3] - Individuals who hold a Shanghai residence permit for less than three years will initially be taxed, but can apply for a refund once they meet the three-year requirement [2] Group 2: Historical Context - The personal housing property tax pilot policy in Shanghai has been in place for over ten years, with the initial guidelines established in January 2011 [2]

Core Points - The Shanghai Municipal Finance Bureau and the State Taxation Administration of Shanghai have announced adjustments to the property tax pilot program to better meet residents' housing needs and promote stable development in the real estate market [1][3] - The new policy will take effect on January 1, 2025, and aims to provide tax exemptions for certain categories of homebuyers [1][3] Summary by Category Policy Adjustments - The adjustments clarify that high-level talents and urgently needed talents who hold a Shanghai residence permit and have lived and worked in Shanghai for at least three years will be exempt from property tax on their first home purchase [3] - For those purchasing a second home or more, if the average housing area per family does not exceed 60 square meters, the new purchase will also be exempt from property tax [3] - If the average area exceeds 60 square meters, property tax will be calculated based on the excess area according to the interim measures [3] Tax Refunds - Homebuyers who do not hold a Shanghai residence permit for three years will initially be taxed according to the interim measures, but can receive a refund for any property tax paid once they meet the three-year requirement [3] - The policy allows for tax refunds for any overpaid taxes after the new regulations come into effect [3]

Core Points - Shanghai has announced an optimization and adjustment of the personal housing property tax pilot policy, effective from January 1, 2025, aimed at attracting high-level talent and easing the tax burden on homebuyers [1][2] Group 1: Policy Details - The new policy allows individuals with a Shanghai residence permit who are high-level talents or have lived in Shanghai for over three years to be exempt from property tax on their first home purchase [1][2] - For second homes and beyond, families can be exempt from property tax if their combined housing area does not exceed 60 square meters per person; any excess area will be taxed according to existing regulations [1][3] - Homebuyers who do not hold a residence permit for three years will initially be taxed, but can apply for a refund once they meet the residence requirement [2] Group 2: Historical Context - The personal housing property tax pilot policy in Shanghai has been in place for over ten years, with the initial trial starting in January 2011 [2]

Core Points - The Shanghai Municipal Finance Bureau and the State Taxation Administration of Shanghai have issued a notification to optimize and adjust the personal housing property tax pilot policies in Shanghai [1][2] - The new policies will take effect from January 1, 2025, allowing eligible homebuyers to apply for tax exemptions [2] Summary by Categories Policy Adjustments - High-level talents and urgently needed talents with a Shanghai residence permit who have lived and worked in Shanghai for three years can enjoy a temporary exemption from property tax on their first home purchase [1] - For families purchasing a second home or additional properties, if the average housing area per person does not exceed 60 square meters, the new purchase will also be temporarily exempt from property tax [1] Tax Refunds - Homebuyers who do not hold a Shanghai residence permit for three years will initially be taxed according to the existing regulations, but can receive a refund for property taxes paid once they meet the three-year requirement [1]

Core Viewpoint - Shanghai has announced an optimization and adjustment of the personal housing property tax pilot policy, effective from January 1, 2025, aimed at easing the tax burden on eligible high-level talents and long-term residents [1][2]. Summary by Sections Policy Adjustments - The new policy allows eligible high-level talents and those who have held a Shanghai residence permit for over three years to have their housing tax exempted, with the possibility of tax refunds for previously paid taxes [1]. - Non-local residents purchasing their first home in Shanghai will also be temporarily exempt from property tax, while the second and subsequent homes will have a tax exemption based on a per capita area of 60 square meters [1][2]. Historical Context - The personal housing property tax pilot policy in Shanghai has been in place for over 10 years, initially implemented in January 2011, targeting both local and non-local residents purchasing second homes [2][3]. - The policy stipulates that for local residents, if the average area of all homes owned exceeds 60 square meters, the excess area will be taxed [2][3].

Taxation on Real Estate Transactions - The main taxes involved in real estate transactions include value-added tax (VAT), urban maintenance and construction tax, education fee surcharge, local education surcharge, land value-added tax, deed tax, and individual income tax [2][3]. - For sellers, if a property is sold within two years of purchase, a VAT of 5% is applied on the total price and additional fees [2]. - Properties sold after two years are exempt from VAT, as are self-built and self-used properties [2]. - In cases of family property division, transfers of real estate and land use rights are also exempt from VAT [2]. Tax Rates and Exemptions - Urban maintenance and construction tax rates vary: 7% for urban areas, 5% for county towns, and 1% for other areas, with education fee surcharges at 3% and local education surcharges at 2% [2]. - From January 1, 2023, to December 31, 2027, small-scale VAT taxpayers will have their urban maintenance and construction tax, education fee surcharge, and local education surcharge halved [2]. - Land value-added tax and deed tax are temporarily exempt for individuals selling housing [3]. Individual Income Tax Regulations - For individuals who can provide the original property value, individual income tax is calculated at a rate of 20% on the net income from the sale [3]. - If the original property value cannot be provided, a flat rate of 1% (3% for auctions) is applied to the sale price [3]. - Properties that have been used as the family's only residence for over five years are exempt from individual income tax [3]. - Transfers of property between family members, such as spouses and direct descendants, are also exempt from individual income tax [3]. Tax Refund Policies - From October 1, 2022, to December 31, 2025, individuals who sell their property and purchase a new one within one year are eligible for a tax refund on the individual income tax paid during the sale [3]. - Conditions for this refund include that both properties must be within the same city and the seller must be one of the owners of the new property [3].