New immigrants to Israel who purchase a first residence will pay significantly lower purchase tax rates than the tax payable according to the current benefit, after the Knesset Finance Committee recently approved an amendment...more
Common Entity Types - Legal persons (such as corporations) and natural persons can generally hold rights over real property in Canada. Investment in real estate can be made through direct ownership by an individual or...more
Key Facts of Real Estate Acquisitions Under Argentinian Law - I. INTRODUCTION. Below you will find a brief outline of the legal regulation of the acquisition of real estate property in Argentina, which is mainly...more
Starting October 1, D.C.’s recordation and transfer tax rates will decrease for the first time in four years, allowing the industry to enjoy cost savings on affected transfers commencing on the first day of the District’s...more
D.C.’s recordation and transfer tax rates on commercial or mixed-use properties are on track to decrease to a combined rate of 2.9% for transactions closing after September 30, 2023. ...more
KEY FACTS OF REAL ESTATE ACQUISITIONS UNDER ARGENTINIAN LAW - Below you will find a brief outline of the legal regulation of the acquisition of real estate property in Argentina, which is mainly governed by the Argentine...more
Measure ULA, also known as the Homelessness and Housing Solutions Tax (HHS Tax), and usually referred to as a "mansion tax," has been approved by voters. The measure creates a new tax on certain property transfers in the city...more
KEY FACTS OF REAL ESTATE ACQUISITIONS UNDER ARGENTINIAN LAW - I. INTRODUCTION. Below you will find a brief outline of the legal regulation of the acquisition of real estate property in Argentina, which is mainly governed...more
Last week, the Israeli Ministry of Finance approved the outline for a hike to the purchase tax imposed on real estate investors, once again, to tax brackets of 8% and 10%. The ministry’s goal is to “dissuade” investors from...more
KEY FACTS OF REAL ESTATE ACQUISITIONS UNDER ROMANIAN LAW - I. Types of Real Property Transactions - A. Purchase of an undeveloped plot of land (agricultural); B. Purchase of a buildable plot of land (with or without...more
This November, the residents of the City of San Francisco will either approve or disapprove a ballot measure that will double city transfer taxes on residential and commercial sales over $10 million. Real estate investors...more
KEY FACTS OF REAL ESTATE ACQUISITIONS UNDER ARGENTINIAN LAW - I. INTRODUCTION. Below you will find a brief outline of the legal regulation of the acquisition of real estate property in Argentina, which is mainly...more
A limited liability company (“LLC”) involved in either the sale or purchase of a one-to-four family dwelling in New York state must now disclose the names and contact information for all managers, owners and agents associated...more
In the current market of soaring real estate values, particularly in and around the City of Toronto (Toronto being the only Ontario municipality to levy its own transfer tax in addition to the provincial tax), an...more
In the last two posts, we saw how a Taxpayer who transfers Property A to a partnership (“Partnership”) in exchange for an equity interest therein will not be required to recognize the gain realized on the transfer. This gain...more
“Tax free” – two words that often bring great delight when they are spoken by a tax adviser to the owner of a business, whether he is considering the disposition of a single asset, or of substantially all of the assets, of...more
It seems that San Francisco may have just partially removed its exception from transfer tax that applied to gifts, but the Office of the Assessor-Recorder may not be aware. As a bit of background, transfer tax applies to...more