Taiwan Tax Season: Multi-Property Owners Urged to Prioritize High-Value Homes for Tax Savings

As tax season approaches, Liberty Times reminds property owners in Taiwan of the implications of the new "housing tax 2.0" policy, which took effect in July 2024. This policy continues the "nationwide household" and "differentiated tax rates" system, limiting owner-occupied homes to three units nationwide. Any additional properties will be subject to higher tax rates, significantly increasing holding costs for those with multiple properties.

The article advises multi-property owners to strategically review their asset allocation and household registration. Specifically, it suggests prioritizing the registration of households in properties with higher assessed values to maximize tax savings. This move is presented as a way to mitigate the financial burden imposed by the new tax structure.

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The housing tax continues the "nationwide household" and "differentiated tax rates" system, with owner-occupied homes limited to three units nationwide. If the number of owned units exceeds this, a higher tax rate will apply, significantly increasing holding costs for multi-property owners.

Beyond the housing tax, the reminder also touches upon adjustments in income tax, such as an increase in the long-term care deduction to NT$180,000 and a rise in the basic living expenses to NT$213,000. While these changes may offer some relief to specific groups, the focus remains on the increased property holding costs for multi-property owners. The article emphasizes that this tax season is not just a routine filing but a comprehensive review of the tax structure, urging proactive measures from taxpayers.

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Therefore, it is recommended to prioritize registering household registration in residences with higher assessed property values to enhance overall tax savings.