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.

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.