Property tax deduction

Deputy of the Supreme Council Oleg Vasilaty proposed to increase the tax-free amount of income for large families who buy an apartment or build a house for the first time. Currently, the republic has a legal norm on property tax deduction for those who build or purchase housing on the territory of our republic. The amount of the deduction is no more than 10 thousand of the minimum wage. This is 104 thousand rubles. So that this amount of income is not taxed, a person who bought an apartment for the first time must submit a copy of the purchase and sale agreement to the tax office and to the accounting department of the company where he works. It is necessary to collect all receipts of expenses, submit documents permitting construction, and receive this deduction in the case when construction is underway. The law on property tax deduction began to operate in 2001 in Pridnestrovie. Income was not taxed, which was equal to approximately 50% of the cost of the apartment that time.

According to the author of the initiative, an increase in the amount of non-taxable income will partially solve the problem of large families who need to improve their living conditions. The Supreme Council deputies supported this initiative and adopted the law-in-draft in the first reading.