Proposed tax breaks to encourage redevelopment of old apartment buildings
The government is considering a number of tax breaks to encourage the redevelopment of ageing apartment buildings across Japan.
Some of the proposed tax breaks include:
- Lowering the capital gains tax from 20% to 14% for apartment owners if they sell the entire building and land
- Eliminating the real estate acquisition tax when the building association buys the apartments from individual ownersRead more