Charges when buying a new property

[Tojo]

Does anybody know, and, or explain what the following charges are as percentages and against what values;
1) Transfer fee
2) Capital Gains tax
3) Stamp Duty
4) Vat/KDV

Thank you in anticipation.

[cjtill]

Transfer fee 3% or 6% of valuation by District Lands office
Capital gains tax on selling (can use one off right not to pay)
Stamp duty is 0.5% on contract price
VAT is 5%
Don't forget Municipality tax of 1% of transfer fee.

[brian24001]

Just playing 'devils advocate' but don't forget to check:
1. Are their any encumbrances to prevent title transfer i.e. builders KDV, taxes from other properties owed by builder?
2. Will sudden extra charges arrive from the land owner for kochan transfer?
3. Are their outstanding services and/or Beli charges/bills? (builders electric)
4. Are there any outstanding mortgages on the property or land?

[Tojo]

Thank you for advice. Can you explain how the one off right not to pay Capital Gains works please.

[ozankoys]

Your post is headed 'charges when buying a new property' so the purchaser does not pay Capital Gains Tax it is the responsibility of the Vendor however I have explained the procedure in case anyone is interested.
When you go to pay the Stoppaj (Capital gains) tax at the Tax Office they check to see if you have used your one off right before & if you have not you can use it. If someone is acting for you the POA must clearly state that you have given them the authority to do this, a general POA is not good enough.
The zero rate only applies up to 1 donum & also if fruit trees are written on your Kocan you have to pay Stoppaj on these as you are deemed to have received income from them however this would not be a lot of money.

[Tojo]

Unfortunately, it is written in my contract that I am responsible for paying the Capital Gains Tax. Are you saying as it's my first time I do not have to.

Thanks for your advice.

[ozankoys]

As the Kocan is not in your name you cannot claim the one off right as legally the Stoppaj is not your responsibility. The fact that you are paying it in behalf of the Vendor is of no concern to the tax office. You will also have to pay the purcase tax though & if it is your first purchase or if you have not used it before you get a one off discount from 6% to 3%.

[CatalkoyChris]

Also get a good (and I mean good) solicitor.
Naihomi Mehmet (spelling?) was absolutely brilliant at explaining each step to help me through the process.