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Couples to pay tax to add name to their property

Do you want to share the ownership of property that officially belongs to your spouse or his or her family by adding your name to an ownership certificate? If that's the case and you live in this city in East China, you will probably have to pay a tax.

A partner in a couple who wants to obtain part ownership of property that had belonged to the other partner before they were married will have to pay a tax that took effect on Tuesday, according to a regulation adopted by Nanjing, capital of Jiangsu province.[Full Story]

 

Repercussion:

Couples' tax issue creates dilemma

To tax or not to tax is the question authorities in this city in East China must answer when deciding whether a partner in a couple must pay when adding his or her name to a property ownership certificate.

A spouse in a couple who wants to obtain part-ownership of a property, which belonged to the other partner before the marriage, by adding his or her name to the ownership certificate is currently not subject to contract tax, according to a notice released by Nanjing tax authorities on Sunday.[Full Story]

 

Result:

No taxation on adding spouse's name on property

China's finance ministry said Thursday that married couples will not be taxed for adding a spouse's name to the property ownership certificate, which came in wake of local tax bureaus' recent introduction of such taxation policies.

The Ministry of Finance said in a statement on its website that spouses are not required to pay tax when obtaining part-ownership of their spouses' property by adding their names to ownership certificates.[Full Story]

 

Opinion:

Who has a say in couple's tax issue: Paper

Local tax bureaus should not have the power to decide whether property tax can be charged towards a spouse wanting to obtain part-ownership of a property, China Youth Daily argued.

The paper proposed that local tax officials should only be able to estimate the tax rate, which usually ranges from 3 percent to 5 percent of the evaluated price of the transferee's share of the property.[Full Story]