Real estate taxation · Implementation Instruction
Non-Application of Section 49F Where the Residential Apartment Sold Was Received as a Gift and the Donor Used an Exemption under Chapter Five 1 in Respect of It - 09/2009
Cancels an earlier instruction Cancels section 6(c) of Implementation Instruction 33/88 (partial cancellation).
Summary
The implementation instruction provides that where a residential apartment was transferred as a gift and the donor used an exemption under Chapter Five 1 of the Law in respect of it, the cooling-off periods in section 49F of the Law will not apply to the recipient of the gift. If the recipient of the gift sells the apartment in a taxable sale, the date and value of acquisition will be determined as of the date on which the gift was received and according to the purchase tax assessment in the gift transaction. The instruction cancels section 6(c) of Implementation Instruction 33/88.
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
- 9/2009
- Publication date
- 16.7.2009
- Topics
- Inheritance and gifts, Residential apartment exemption
- Sections of the Law mentioned
- 49ב
Related publications
Official document
Source: The publication on the Israel Tax Authority website (gov.il, Hebrew)
Suggested citation
Israel Tax Authority, Implementation Instruction 9/2009, "Non-Application of Section 49F Where the Residential Apartment Sold Was Received as a Gift and the Donor Used an Exemption under Chapter Five 1 in Respect of It - 09/2009" (16.7.2009) [Hebrew]
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