How the new property tax is calculated – Diepresse.com
Anyone who makes profits with the rededication of land will have to pay more money to the state in the future. Not 90 percent, as the SPÖ once wanted. But living is becoming more expensive, my critic.
Vienna. It was and is good business-also for SPÖ politicians. You buy grassland cheaply and hope – or make sure that it will be released into building land later. In these cases, the value can be slightly tenfold.
In Vienna, for example, some social democratic politicians deserved quite well by the fact that the allotment plots they bought became a full building land. The public prosecutor is therefore investigating. A municipal association also had to step down because of questionable property deals almost two years ago.
It is very legal deals that the government is now targeting with its own new tax. With a supplement to the Income Tax Act, all releases of a property are specially taxed after December 31, 2024. Literally it states that a « resulting profit resulting from the sale of the converted land is to increase a recovery surcharge of 30 percent ». This applies to both company and private property sales.
Tax of more than 50 percent?
The statement caused confusion that this tax should be paid within the framework of real estate gains tax. This tax is also 30 percent. There were fears that the total tax could increase to more than 50 percent in cases of reciprocities.
