Housing purchase tax benefit raised

For those home buyers, who bought an apartment between August 1 and the end of October the bar on the amount which will be exempted from purchase tax rises to NIS 850,000.

By SHARON WROBEL
November 1, 2007 07:41

The Knesset Finance Committee this week voted in favor of raising the bar on purchase tax exemptions for low-cost housing from NIS 634,000 to NIS 925,000. Starting today, November 1, home buyers purchasing a flat for up to NIS 925,000 will be exempted from paying purchase tax, resulting in a saving of NIS 12,232. For those home buyers, who bought an apartment between August 1 and the end of October the bar on the amount which will be exempted from purchase tax rises to NIS 850,000.


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