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New tax measures to alleviate expenses in CABA: ABL, rentals and property sales - La Nacion Propiedades
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www.lanacion.com.ar
January 07, 2025
The head of government, Jorge Macri, announced a package of tax benefits with the aim of reducing the tax burden by $305 million
The tax benefit package seeks to alleviate the tax burden on key sectors and encourage economic development in the City Freepik
The head of the Buenos Aires government, Jorge Macri , announced this Tuesday a package of tax benefits that includes measures for merchants, retirees, pensioners and self-employed workers , with the aim of reducing the tax burden by $305 million.
Among the initiatives highlighted are the exemption from ABL for retirees and pensioners, and a 0% rate on certain contracts and commercial operations.
More retirees and pensioners will be able to access the total exemption from the ABL thanks to the update of the requirements approved by the Buenos Aires LegislatureDANTE COSENZA
The Homogeneous Tax Valuation of the property will now be taken as a reference, with a maximum value of $40,000,000, instead of the $75,000 previously established. In addition, those who receive a salary equal to or less than four times the minimum pension , equivalent to approximately $1,063,000, will be able to access the benefit .
Under the previous scheme, the exemption percentage varied between 25%, 50%, 75% and 100%, depending on the value of the property. With the new requirements, beneficiaries who meet the conditions will automatically receive full exemption from the tax.
The increase in the exempt amount of the Stamp Tax facilitates the purchase of a single home and will alleviate the tax burden for families in the CityGonzalo Colini
The Stamp Tax is levied on real estate sales transactions in the City of Buenos Aires with a percentage of 3.5% of the value of the deed. In general, this amount is divided equally between the buyer and the seller, who each pay 1.75%.
Jorge Macri announces elimination and reduction of taxes GCBA
With these measures, the Buenos Aires City Government seeks to alleviate the tax burden on the most vulnerable sectors and promote economic development through fiscal incentives. These policies could also boost the real estate and vehicle markets, in addition to contributing to the balanced growth of the different areas of the City.
www.buysellba.com
Source:
Las nuevas medidas impositivas para aliviar los gastos en CABA: ABL, alquileres y compraventa de propiedades
El jefe de gobierno, Jorge Macri, anunció un paquete de beneficios impositivos con el objetivo de reducir la carga tributaria en $305 millones
www.lanacion.com.ar
January 07, 2025
The head of government, Jorge Macri, announced a package of tax benefits with the aim of reducing the tax burden by $305 million
The tax benefit package seeks to alleviate the tax burden on key sectors and encourage economic development in the City Freepik
The head of the Buenos Aires government, Jorge Macri , announced this Tuesday a package of tax benefits that includes measures for merchants, retirees, pensioners and self-employed workers , with the aim of reducing the tax burden by $305 million.
Among the initiatives highlighted are the exemption from ABL for retirees and pensioners, and a 0% rate on certain contracts and commercial operations.
ABL exemption for retirees and pensioners
Of the 600,000 registered retirees and pensioners in the city of Buenos Aires, currently some 78,678 are totally or partially exempt from the Lighting, Sweeping and Cleaning tax (ABL). With the new regulations, recently approved by the Legislature, the scope of this benefit was expanded by updating the requirements to access the total exemption.
More retirees and pensioners will be able to access the total exemption from the ABL thanks to the update of the requirements approved by the Buenos Aires LegislatureDANTE COSENZA
The Homogeneous Tax Valuation of the property will now be taken as a reference, with a maximum value of $40,000,000, instead of the $75,000 previously established. In addition, those who receive a salary equal to or less than four times the minimum pension , equivalent to approximately $1,063,000, will be able to access the benefit .
Under the previous scheme, the exemption percentage varied between 25%, 50%, 75% and 100%, depending on the value of the property. With the new requirements, beneficiaries who meet the conditions will automatically receive full exemption from the tax.
0% rate for commercial and tourist rentals
Among the announced tax measures, the implementation of a 0% rate on rental contracts for commercial purposes , as well as on rentals of homes for tourist purposes, stands out. This means that these operations will be exempt from paying the percentage that was previously taxed (0.50%), which represents an economic relief for both owners and tenants.
The increase in the exempt amount of the Stamp Tax facilitates the purchase of a single home and will alleviate the tax burden for families in the CityGonzalo Colini
Changes in Stamp Duty
As of January 1, 2025, the amount exempt from Stamp Tax for single-family, permanently occupied home sales and purchases has increased significantly, from $56,270,730 to $205,332,000 (approximately US$200,000). This means that those who purchase properties within this range and meet the requirements will not have to pay the 3.5% corresponding to this tax, which represents a significant economic relief and an incentive for the acquisition of one's own home.The Stamp Tax is levied on real estate sales transactions in the City of Buenos Aires with a percentage of 3.5% of the value of the deed. In general, this amount is divided equally between the buyer and the seller, who each pay 1.75%.
Jorge Macri announces elimination and reduction of taxes GCBA
Promote the development of the south of the city
As part of its commitment to boost growth in the south of the city, the city government established a reduction in the Stamp Tax rate from 3.5% to 0.5% in Barracas. This benefit will apply to the polygon delimited by Montes de Oca, California, Pasaje Río Cuarto and Avenida Regimiento de Patricios streets, a historically neglected area with numerous vacant lots. The objective is to promote real estate development and the construction of new homes in the region.With these measures, the Buenos Aires City Government seeks to alleviate the tax burden on the most vulnerable sectors and promote economic development through fiscal incentives. These policies could also boost the real estate and vehicle markets, in addition to contributing to the balanced growth of the different areas of the City.
www.buysellba.com
