By selling a property as a couple, you can reduce your tax burden.
When the alienation of a dwelling house leaves profits to a marriage, the fiscal duties are paid between both and even benefits like the exemption in the payment of the ISR can be promoted.
When we sell a house, it is common to look for an attractive placement price, which leaves us a good profit. However, when you have a utility when disposing of a property, you must pay taxes, specifically the Income Tax (ISR), but what happens when two people own a property, as in the case of a marriage?
To know how we can benefit from an alienation as a couple, we must first understand the payment of the ISR fully.
ISR for the alienation of a property in the case of individuals is calculated on the gain on the sale of a property, and this is obtained as the difference between the purchase price and the sale value, said José Antonio Manzanero, president of the company. National College of Mexican Notaries.
"If you have a profit on that sale, an interim tax is calculated and paid through the notary (...) For individuals, the date on which it was purchased, the price at which it was purchased, and an exercise for it is taken into account. update based on factors published by the federal government, or, through a calculation derived from the National Consumer Price Index, to know what was paid in the past for a good and how much it represents now that it is going to sell ", Abounded the specialist.
However, remember that ISR is a tax that is charged on profits, so if there are no profits in a sale, there is no tax burden.
As an example of this, imagine that you bought a plot of land in 1 million pesos in 2000 and you want to sell it this year, but since it is an urgent placement, you offer it at 3.5 million pesos, when its market price is 5 millions of pesos.
In this case, based on the calculation factors mentioned by the specialist, fiscally the property would have a value of 3.7 million pesos, but when selling it in 3.5 million pesos would have a fiscal loss of 200,000 pesos, so it would not pay tax, since it would sell below the updated cost.
On the contrary, in a scenario where that same property is sold in 4 million pesos, which today costs 3.7 million pesos, there would be a profit of 300,000 pesos, so it would pay tax.
The couple sale
Once the payment of the ISR is understood, it is necessary to mention the case of the conjugal societies that, in a general way, divide the payment of the ISR in case there is a profit.
"It is not the same to say that a person earns only 1 million pesos to several people receive the same amount and that has an effect on the calculation (of the ISR), because when there is a profit among several people, in addition to the procedure of calculation, is nuanced in that it has to be divided between each of the sellers or alienators for the profit, to know what is the proportional part that corresponds to each person, "explained José Antonio Manzanero.Es, each person will pay a tax depending on what proportion of the property is your property.
It is important to note that when a house is sold as a couple, one of the two people is designated as a common representative, who will be responsible for the tax obligations, said Damián Cecilio Torres, president of the Fiscal Commission. South of the College of Public Accountants of Mexico.
Another point in favor of the sale in conjugal partnership is that the exemption from payment of ISR to which one has the right to sell a property, of 700,000 units of investment of the sale price (equivalent to approximately 4.2 million pesos), is doubled , so a couple could exempt ISR payment of a property for just over 8.4 million pesos, since the exemption capacity of each one is 4.2 million pesos.
To prove the date of purchase and the value of the property that is going to sell, it is important to have a Digital Tax Receipt for Internet (CFDI) with a complement that proves this data, warned José Antonio Manzanero.
Until March 31, 2014, the deed served as proof of this information; however, as of April 1, 2014, you must have a CFDI from which the notaries obtain the date and cost of the property.
"Sometimes, the selling company goes over the list and does not generate those elements, so they severely damage the taxpayer because they leave it without proof of the date and costs of acquisition of the house," he said.
Likewise, if a couple sold a house in the last three years, they will not be able to access a tax exemption, said Damián Cecilio Torres.
Source: The Economist / Juan Tolentino / August 20, 2018.