The end of second-hand tax discount

December 5, more than a few real estate agents on the road to solicit public consultation information. Morning News reporter Wang to start next year free of time from 2 years to restore the first suite of 5 years and improve the preferential housing policy continue the central government has determined to curb the 2009 real estate industry's extraordinary heat. Yesterday, Premier Wen Jiabao presided over a standing meeting of the State Council to study and improve a number of policy measures to promote consumption, of which seventh expressly stipulates that the personal housing transfer business tax exemption period from 2 years to 5 years.　　It is the only obvious market-dampening measure in all eight of the State Department's initiatives.　　On the same day, at the National Development and Reform Conference, the National Development and Reform Commission director Zhang Ping also pointed out that China will improve the housing consumption and regulation policy, increase the supply of low-priced and limit commercial housing, curb speculative purchase. In addition, the State Council executive meeting also pointed out that other housing consumption policies continue to implement.　　This means that the preferential policies for first-suite and improved housing will be clearly renewed.　　Industry insiders said that from the government's policy intentions, the real estate market has been from the growth to prevent the bubble change. Curb real estate speculation in the implementation of the second-hand housing business tax preferential policy, is based on December 29, 2008, the Ministry of Finance, the State administration of taxation issued a joint "on the transfer of personal property sales tax policy notice."　　The most important aspect is that the personal housing transfer business tax exemption time from the original policy of 5 years to 2 years. The notice stipulates that from January 1, 2009 to December 31, individuals will purchase less than 2 years of non-ordinary housing sales, the full levy of business tax, individuals will purchase more than 2 years (including 2 years) of ordinary housing or less than 2 years of ordinary housing sales,　　Levy a business tax in accordance with its sales income minus the difference after the purchase price of the house; Individuals will purchase more than 2 years (including 2 years) of ordinary housing sales, exempt from business tax. The current business tax rate is 5.5% of the total housing price, once the preferential policy is restored to 5 years, originally intervention 2 years, can be exempted from taxes and charges of housing transaction costs will increase significantly.　　Take a set of 2 million yuan housing for example, the simple business tax difference will reach 110,000 yuan. 7th, the closing of the Central Economic Work Conference proposed to increase the supply of ordinary commodity housing, support the residents to live and improve the demand for housing, strengthen low-cost housing construction, such as affordable. Although there is no explicit "suppression of speculation and stable housing prices", but the relevant signals have already been disclosed. On the eve of the central Economic Work Conference, scholars, including Fan, chief economist of the National Information Center, generally believe that the prices of some cities have been on the rise this year.　　Premier Wen Jiabao also made a clear "curb speculation" during his visit to Shanghai recently.　　Yang Hongxu, Minister of comprehensive Research at the Shanghai Institute of Real Estate, said that the previous document had already set a deadline for implementation, and now terminates on time, indicating that the central government is determined to curb speculative demand, rather than expect prices to rise too fast. The rise in house prices is difficult to change, however, the State Council document clearly, "other housing consumptionPolicy continues to be implemented ". October 22, 2008, the Ministry of Finance, the State Administration of taxation jointly issued "on the adjustment of real estate transaction links Tax Policy Notice" (tax (2008)137). The notice stipulates as follows: first, for individuals to purchase 90 square meters and the following ordinary housing, the tax rate temporarily reduced to 1%. Second, the personal sale or purchase of housing temporarily exempt from levy stamp duty. Third, the individual sales of housing temporary exemption from the imposition of land value-added tax. These policies will be renewed.　　In other words, this policy is targeted only for investment property buyers, for the first house owners, the policy is still to adopt incentives and give concessions. This year, the real estate market began in the second half, the proportion of investment in home purchase significantly increased, while the second half is the fastest rise in house prices for a period of time, house prices rose even more than the peak period of 2004 years.　　The real estate industry has been showing frequent bubbles in recent times. Scherkingshon analysis of China's easy to live Chinese analyst said that because of the Government's policy is to increase the supply of commercial housing and sales, the real estate industry growth rate and the shortage of demand will be accelerated to be resolved. Coupled with restrictions on short-term speculation in the tax policy, will affect investor confidence. As long as inflation expectations are resolved, the housing market is expected to move smoothly.　　　　Although government measures are intended to rein in house prices, the rise in house prices is hard to change, as inflation expectations have not changed. 2008 introduced some second-hand housing preferential policy deed, stamp duty, land value-added tax October 22, 2008, the Ministry of Finance, the State administration of taxation issued "on the adjustment of real estate transaction links Tax Policy Notice": 1. For the first time to purchase 90 square meters and the following ordinary houses, the tax rate temporarily reduced to 1%.　　(original ratio 1.5%) 2. Temporary exemption from stamp duty on individual sales or purchase of housing.　　(original ratio 0.05%) 3. The sale of personal housing to the temporary exemption from the imposition of land value-added tax.　　(original ratio 1%) Implementation date: November 1, 2008 business tax personal purchase more than 2 years (including 2 years) of ordinary housing sales, exempt from business tax.　　(original ratio 5.5%)　　Implementation date: January 1, 2009 implementation period: one-year loan interest rate the lower limit of commercial personal housing loan interest rate is enlarged to 0.7 times times of the loan base rate, and the minimum first payment ratio is adjusted to 20%. Implementation date: October 27, 2008