Realestate

[snpark]

They mean the commission? Agent fee etc?

 

[Samoerai]

They mean the commission? Agent fee etc?

Depending on the price of property .. fee for the agent is 2,5% - 3% ... non-negotiable they say.

 

[snpark]

plus sales tax etc etc etc ??

 

[Samoerai]

plus sales tax etc etc etc ??

VAT is already included in the price when one buys the new property from the developer. I don't calculate that. However, the PBB-tax (land and building tax) of 0,15% per year (depending on the region) ... yes, one must include that in the calculation.

 

[snpark]

I meant someone talking about sales purchase tax

Did they mean the agent commission/s. 5% either end

Imagine selling a place for $1m and only getting back about $800k

 

[snpark]

Sounds like the US lottery winners. Who win like $800m but after taxes get about $200m

Or $10k a day for life or whatever

 

[Samoerai]

I meant someone talking about sales purchase tax

Did they mean the agent commission/s. 5% either end

Imagine selling a place for $1m and only getting back about $800k

Not sure what you are talking about?

But her in Indonesia the seller and buyer of the property split the 5% tax, I heard.

 

[Helpful Herbert]

The buyer pays 5% (BPHTB tax). [unless the parties make another arrangement on who pays this]
The seller pays 2.5% (PPh tax).

Both of these can be reduced by allowances and under various other circumstances, but those are the basic amounts (I went through it recently).
Agent fees are normally paid by the seller, based on negotiation (could be 2% for example). The buyer wouldn't pay an agent fee.

More details:

Membongkar Pajak Jual Beli Rumah di Indonesia

Saat%20kamu%20membeli%20atau%20menjual%20rumah,%20kamu%20akan%20dikenakan%20pajak%20jual%20beli%20rumah.%20Seperti%20apa%20cara%20kerja%20pajak%20jual%20beli%20rumah%20di%20Indonesia?

pina.id

 

[snpark]

You are confused between tax. For the government.
And commission. For the buyer and sellers agents

 

[Samoerai]

The buyer pays 5% (BPHTB tax). [unless the parties make another arrangement on who pays this]
The seller pays 2.5% (PPh tax).

Both of these can be reduced by allowances and under various other circumstances, but those are the basic amounts (I went through it recently).
Agent fees are normally paid by the seller, based on negotiation (could be 2% for example). The buyer wouldn't pay an agent fee.

More details:

Membongkar Pajak Jual Beli Rumah di Indonesia

Saat%20kamu%20membeli%20atau%20menjual%20rumah,%20kamu%20akan%20dikenakan%20pajak%20jual%20beli%20rumah.%20Seperti%20apa%20cara%20kerja%20pajak%20jual%20beli%20rumah%20di%20Indonesia?

pina.id

A lot of tax ... in my home country the buyer only pays 2% tax on the sales price of a house.
The seller pays no tax and also no tax on the profit, if any.

 

[Samoerai]

You are confused between tax. For the government.
And commission. For the buyer and sellers agents

To calculate the 'yield' on property ... one has to calculate the total cost ... buying/selling property.

 

[snpark]

To calculate the 'yield' on property ... one has to calculate the total cost ... buying/selling property.

You still misunderstand

 

[Samoerai]

The buyer pays 5% (BPHTB tax). [unless the parties make another arrangement on who pays this]
The seller pays 2.5% (PPh tax).

To make it clear:

1.
You buy a property from (let's say) a developer of a perumahan.
You pay 5% tax (BPPHT) of the purchase price en 1% fee notaris to get the Akta Jual Beli (AJB).

2.
Then later you sell the house to someone else.
You pay 2,5% tax of the transaction price
And 2,5% fee of the transaction price to the sales-agency (in case you hire one)

Ya Allah!

 

[jstar]

Don’t forget the VAT/Sales Tax (PPN) of 11% that is included when you buy (new) from a PKP. And there are some other costs involved. Notary costs are normally negotiable.

 

[jstar]

Talking about that VAT; certain countries have possibilities to deduct value added tax when you have a second home / vacation house. Not only on the sales price but also on all costs that one makes (electric, maintenance, ..).

Of course there are some regulations like tax reporting, having to own it for 10 years, possess official invoices, …

For me this was a major reason to invest somewhere outside of RI as well.

 

[snpark]

Yes fixtures and fittings (furniture etc) and not included in sales price / taxes etc
So a popular scam is instead of saying a house is $1m you say its $750k plus the f+f

 

[pantaiema]

There are four tax the people need to pay on buy/sell property: Transfer Tax (BPHTB), Land and Building Tax (PBB), Value Added Tax (VAT), Documentary Stamp Tax (DST). On the top of that there is still real estate agent commission and Notary fee.

The VAT of 11% for new property in Indonesia is not high as other country that VAT rate is typically 20%. This is typically only for new property the one you buy from developer/seller where they will add this tax. There is no VAT to pay if you sell your own property you have lived in to other people.

In the Netherlands there is no CGT but the Dutch tax office assumes that you enjoy a yield of up to 5.69% over your total asset value. So there is still similar tax just the way they calculate it. They intend to change it to "capital gains tax" in the future according to this:

Capital gains tax Netherlands | Blue Umbrella

In the Netherlands, you are currently not taxed for capital gains or actual rental income. Instead, the Dutch tax office assumes that you enjoy a yield of up to 5.69% over your total asset value, irrespective of whether any actual gains are higher or lower (!).

www.blueumbrella.nl

 

[Samoerai]

There are four tax the people need to pay on buy/sell property: Transfer Tax (BPHTB), Land and Building Tax (PBB), Value Added Tax (VAT), Documentary Stamp Tax (DST). On the top of that there is still real estate agent commission and Notary fee.

The VAT of 11% for new property in Indonesia is not high as other country that VAT rate is typically 20%. The only different here is that 11% VAT tax in Indonesia applies to all new properties while in other country, this is typically only for commercial property (e.g rental properties, etc).

In the Netherlands there is no CGT but the Dutch tax office assumes that you enjoy a yield of up to 5.69% over your total asset value. So there is still similar tax just the way they calculate it. They intend to change it to "capital gains tax" in the future according to this:

Capital gains tax Netherlands | Blue Umbrella

In the Netherlands, you are currently not taxed for capital gains or actual rental income. Instead, the Dutch tax office assumes that you enjoy a yield of up to 5.69% over your total asset value, irrespective of whether any actual gains are higher or lower (!).

www.blueumbrella.nl

But selling property .. no tax is demanded ... and also no tax on profit. Recently there are reports in the Dutch newspaper that some people became millionair in just 4 years by selling their house.

 

[pantaiema]

But selling property .. no tax is demanded ... and also no tax on profit. Recently there are reports in the Dutch newspaper that some people became millionair in just 4 years by selling their house.

Is it the reason why they want to change it to CGT in the future ??

 

[pantaiema]

Not at all.

What about this statement: the Dutch tax office assumes that you enjoy a yield of up to 5.69% over your total asset value. So you pay tax in other way, but as usual there are a way to minimise or to avoid it (?) ..