Because housing prices are too high, people are increasingly clamoring for a "property tax", but experts say that since the time is not yet ripe, it is unlikely that a property tax will be levied in a short period of time. Before the "property tax" comes, the "landlord tax" in some areas has already appeared.
The so-called landlord tax is a tax levied on landlords. When renting or subletting a property, if the landlord cannot provide legal and accurate cost and expense vouchers, or does not have vouchers to prove that the house is rented, then the landlord needs to pay landlord tax, which is levied The standard is generally 5% to 10% of the rent.
In October 2020, Hebei Province began to levy "landlord tax" on landlords. In December of the same year, Hunan Province also began related work to collect landlord tax. After that, State Administration of Taxation and Yunnan Provincial Taxation Bureau issued "About Individual Rental Houses" "Announcement on Matters Related to the Collection and Management of Personal Income Tax", announcing that from January 1, 2021, personal income tax will be paid in accordance with "property rental income" personal income tax .
In fact, there have long been regulations on collecting taxes and fees from landlords on income from renting out houses. One of the taxes levied by the tax department is house rental tax . This tax is generated with the rental of houses. It is based on rent, charged according to certain standards, and paid by the owner of the property rights. However, in real life Among them, few people need invoices, so they have not actually paid.
In 2020, Hohhot’s commercial housing decommissioning cycle will be 16.3 months, which is very close to the 18-month decommissioning cycle stipulated by the Ministry of Housing and Urban-Rural Development. The prolongation of the sale cycle and the increase in vacancy rate are not good news for real estate speculators. Because this means that the real estate speculators who dream of renting and supporting loans will continue to increase their real estate holding costs .
Assume that a house with a loan of more than 1 million yuan is currently used, and the national average first-time home loan interest rate in March 2020 is 5.48%. If the 1 million house loan adopts the repayment method of equal amounts of principal, then the total interest in 20 years will be 550,283 yuan; if the repayment method is equal principal and interest , then the total interest in 20 years is 648,219 yuan.
Whether it is equal amounts of principal or equal amounts of principal and interest, the interest required to repay the loan is about 150,000 yuan. There are also miscellaneous expenses such as water, electricity, heating, etc., as well as the deed tax paid for the real estate certificate. In five years, the house must be sold for at least 1.6 million to avoid losing money. In other words, your house must have increased by at least more than 20% in five years!
Take Hohhot, which has been at the top of the house price growth list for a long time last year, as an example. Its highest increase in new commercial housing was 22.8% in March 2020, and the annual increase was only 5.8%. In 2021, Hohhot’s housing price growth will narrow significantly.
Previously, in the face of stagnant house prices, real estate speculators could still use rent-to-support loans to stop the bleeding. However, the introduction of the landlord tax has caused the real estate holding costs of real estate speculators to skyrocket, especially in third- and fourth-tier cities with the population inflow and The demand for buying houses is relatively small. Once the landlord tax is levied, the cost of owning a house will increase, and real estate speculators will face the dilemma of having no one to take over the house. The introduction of landlord tax can effectively curb real estate speculation and cool down the hot property market.
Of course, if there are policies at the top, there will inevitably be countermeasures at the bottom. Property taxes are fully levied, and some people speculate that rents will also rise accordingly.
At present, there is data saying that more than 10% of Chinese families own three houses, and the number of families owning two houses has reached as high as 31%. The housing vacancy rate is around 22%. People who have many properties in their hands are urgently needed. The land wants to rent out the house.
In other words, if you raise the rent price, I will find a cheaper house to rent. The 230 million floating population who need to rent a house may face a rent competition with more than 30% of multi-suite households in the future.
In fact, things that are talked about on paper cannot stand the test of practice. It is inevitable that the "landlord tax" will be added to the tenant's rental costs through rent increases.
For example, rents in cities such as Beijing, Shanghai, Guangzhou and Shenzhen will only increase if there is a net inflow of people. Whether rents in third-tier cities like Hohhot will rise depends on whether the floating population will buy into it...
What do you think about this?
This article is an original article by Zhengbei Finance. Please indicate the source when reprinting.
