Real estate taxation · Implementation Instruction
Exemption for a Public Institution on the Sale of a "Qualifying Residential Apartment": 12/2004
Summary
The supplement amends Implementation Instruction 12/2004 concerning the exemption from betterment tax for a public institution on the sale of a qualifying residential apartment received by inheritance, under section 49B(6)(b) of the Law. Where the testator did not define in the will the use of the consideration money, an accountant's confirmation, at the time of reporting and requesting the exemption, of a defined use that will directly serve the public purposes of the institution may suffice. Use for paying salaries or investment in an income-producing property will not meet the condition, and the accountant's confirmation is also required in the annual report.
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
- 12/2004
- Publication date
- 15.8.2004
- Topics
- Inheritance and gifts, Betterment tax
- Sections of the Law mentioned
- 49ב
Official document
Source: The publication on the Israel Tax Authority website (gov.il, Hebrew)
Suggested citation
Israel Tax Authority, Implementation Instruction 12/2004, "Exemption for a Public Institution on the Sale of a "Qualifying Residential Apartment": 12/2004" (15.8.2004) [Hebrew]
Calculators on this site
Back to the guidelines databaseSearch the full text of all publications
This information is provided for convenience only and is not legal or tax advice. Check the current official text and the circumstances of the transaction before making a decision. See the terms of use.