epajak.or.id – Tax Burden for Home Sellers and Buyers , It’s no secret that the process of buying a new home is not easy. From finding a house to financing it, it takes a long time. However, this is based on a lack of knowledge about what aspects are included in the home buying scheme. By knowing various things about home buying, it will make it easier for you and speed up the realization of your dream home to improve your quality of life in the future.
One of the things you need to understand from the home purchase scheme is the home purchase tax. The presence of this home purchase tax is important to take care of, because the property you buy has become your right and is included in the category of assets that need to be reported through taxes.
In addition, home purchase tax is not only paid by you as a buyer. There are also several other home purchase taxes that need to be paid or reported by the seller, but of course there must be disclosure in the agreed price so that the home buying and selling process becomes smooth.
Basically, this home purchase tax covers all the tax costs of buying and selling a house. Although there are some home purchase taxes that can be reported by the seller, you as a buyer need to know so that there are no misunderstandings and reduce the risk of loss. So, what are the taxes charged to home buyers and sellers? Quoted from the cimbniaga.co.id page, here is a complete review.
Home purchase tax charged to the buyer
As a buyer, there are generally two elements of home purchase tax that you need to know and are mandatory for you to fulfill or report. You also still have the obligation to pay the house purchase tax. The two elements of home purchase tax are the Fees for Acquisition of Rights on Land and Buildings (BPHTB) and Value Added Tax (VAT).
Land and Building Acquisition Tax (BPHTB)
As a buyer, after successfully completing a house sale and purchase transaction, you will get information regarding the house purchase tax that you need to fulfill. This home purchase tax comes in the form of BPHTB. This home purchase tax is charged when you have fully owned the rights to the house or property that has been purchased. The application of BPHTB as a home purchase tax needs to be reported in detail and clearly, because the purchase of a house is a category of transactions that fall into legal events.
Basically, the maximum rate of house purchase tax on Fees for Acquisition of Rights on Land and Building is calculated to be reduced by 5 percent of the Non-Taxable Tax Object Acquisition Value (NPOPTKP). The maximum amount of BPHTB has a different total depending on the landscape and environmental conditions of the house area. So, the tax cost of buying a house in Jakarta, Bandung, Surabaya, and other big cities will have a significant difference.
Value Added Tax (VAT)
Another home purchase tax element that you need to fulfill as a buyer is VAT. This element of the house purchase tax is not directly charged to you as a buyer. You need to pay off the VAT by depositing the amount of the tax with the seller. The amount of this home purchase tax will later be accumulated with the cost of the entire house sale and purchase transaction. This value-added tax has a mandatory nature to be paid, especially if you buy a house from a developer, there will be VAT with a burden of approximately 10 percent of the agreed selling price of the house. While you buy a house individually, then you need to deposit this one home purchase tax directly at the tax office.
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Home purchase tax charged to the seller
As a consumer, you also have the right to request transparency of the house sale and purchase price, including the calculation of the house purchase tax. As additional information, you need to know about what types of home purchase taxes are charged to the seller. This information can be useful if one day you want to make a house as an investment and sell it at a later date.
Income Tax (PPh)
As one of the elements of the house purchase tax, Income Tax is a tax that must be borne by the seller of the house. The provisions related to this home purchase tax are stated in the plan to sell the house. The provisions on income tax are regulated by Government Regulation (PP) Number 34 of 2016. In the PP, there are provisions regarding Income Tax on income from the transfer of rights to land and / or buildings and agreements binding the sale and purchase of land and / or buildings and their amendments.
In addition, home sellers are required to pay this tax because the house sold is one of the sources of income earned by the home seller. B