Sale of a Real Estate Right That Was Formerly a "Residential Apartment": Betterment Tax Implementation Instruction 10/93

Summary

As at the date of its publication (April 1993), the instruction deals with a residential apartment that was demolished, destroyed or damaged against the owner's will, for example by fire, explosion or storm, and as a result physically became an "other right in real estate". Under the instruction, if the right is sold within one year of that change, it is treated, at the seller's request, as the sale of a "residential apartment" for the purpose of calculating betterment tax. The instruction states expressly that it is granted beyond the strict letter of the law. It does not apply to the buyer, whose purchase tax is determined by the nature of the right on the date of purchase.

The summary was written by the office and reflects the instruction as of its publication date. The binding text is the official Hebrew publication, and the instruction may have been updated or affected by later legislation and case law. The English title and summary are an unofficial translation.

Publication details

Type

Implementation Instruction

Number

10/93

Publication date

15.4.1993

Topics

Betterment tax, Residential apartment exemption

Source

Source: Israel Income Tax and Real Estate Taxation Commission. Published in the Misim journal (VII/3, C-136). We have not found a copy on an official website.

Suggested citation

Income Tax Commission, Betterment Tax Implementation Instruction 10/93, "Sale of a Real Estate Right That Was Formerly a Residential Apartment" (15.4.1993) [Hebrew]

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