Real estate taxation · Implementation Instruction
Increasing the Supply of Residential Apartments: 06/2011
Summary
As at the date of its publication, the Instruction explains the Temporary Provision Law for Increasing the Supply of Residential Apartments, 5771-2011: reduced purchase tax brackets for a single apartment (no tax up to 1,350,000 ₪) and increased brackets for an investment apartment (5% to 7%) for purchases from 21.02.11 to 31.12.12. It sets out two additional exemptions from betterment tax on the sale of a qualifying residential apartment from 01.01.2011 to 31.12.2012, and an exemption up to three times for a residential apartment that is not qualifying from 01.08.2011 to 30.06.2013, with a ceiling of 2,200,000 ₪ and conditions such as a sale not to a relative. It further explains a reduced betterment tax rate on the sale of land for the construction of at least 8 apartments, conditional on completion of construction within 36 months, and the extension of the period in section 49B(1) from 4 to 8 years in Amendment 71.
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
- 6/2011
- Publication date
- 14.11.2011
- Topics
- Purchase tax, Residential apartment exemption, Betterment tax
- Sections of the Law mentioned
- 49ב 6א 49 49ז
Related publications
Official document
Source: The publication on the Israel Tax Authority website (gov.il, Hebrew)
Suggested citation
Israel Tax Authority, Implementation Instruction 6/2011, "Increasing the Supply of Residential Apartments: 06/2011" (14.11.2011) [Hebrew]
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