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Israel Real Estate: Taxes on selling a home in Israel
Manage episode 440040144 series 3591683
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In this episode of "On the House," we dive into the taxes related to selling real estate in Israel with guest expert Josh Portman. The discussion covers critical aspects of capital gains tax, including when it applies, its calculation, including the Linear Tax Rate, and the various available exemptions. We examine the threshold for capital gains tax exemption, explore the differences between residential and non-residential real estate, and highlight the additional expenses that can be deducted when calculating the tax, such as legal fees, depreciation, interest, and property improvements.
Further, we break down the often misunderstood Betterment Levy (Hetel Hashbacha), which applies when property value increases due to zoning or construction improvements, and discuss how it impacts property transactions.
For further inquiries, you can reach Josh at josh@portman.law.
Interested in buying property in Israel? Visit Buyitinisrael.com to explore a variety of new projects across the country. Stay informed with the latest Israeli real estate news, access expert advice, and discover valuable insights to guide your decisions.
We’re here to support your journey to owning property in Israel. For help finding your home or any inquiries, please contact Debbie Goldfischer at debbie@buyitinisrael.com.
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