With the start of the new Personal Income Tax (IRPF) 2024 season, taxpayers are faced with significant updates to the rules established by the Brazilian Federal Revenue Service (RFB). Among the changes, the obligation to declare the possession of assets that exceed the value of R$800 thousand or the sale of properties with capital gains subject to taxation stands out. A relevant change compared to the previous year, where the limit was R$300,000.
The Federal Revenue has expanded the conditions under which taxpayers are obliged to declare their assets, aiming for more effective control over asset movements. According to Contabilizei’s Vice President of Operations, Charles Gularte, it is crucial not only to know the news, but also how the calculation and possible exemptions are carried out in the sale of properties.
What Changes in the Property Declaration?
To put it simply, anyone who owns real estate whose sum exceeds R$800,000 or has sold a property with capital gains is now required to include this information in the DIRPF. This change aims to curb tax evasion and ensure that property gains are correctly taxed.
Who Can Be Exempt from Tax on the Sale of a Property?
Gularte highlights that there are three specific conditions that allow exemption from income tax on capital gains from the sale of properties. These situations include gains on properties acquired before 1969 and between 1969 and 1988, in addition to sales of a single property up to R$440,000.00 under special conditions. A curiosity is the possibility of exemption when reinvesting the amount in new properties within a period of 180 days, a benefit only acceptable once every five years.
How to Calculate Property Sales Tax?
The calculation of Income Tax on the sale of properties focuses on capital gains, the difference between the acquisition and sale value. The IR rate varies between 15% and 22.5%, applicable on the gain and not on the total value of the sale. It is essential that taxpayers pay attention to these details to avoid surprises or inconsistencies in their declaration.
Tips for Taxpayers:
- Keep documentation organized (invoices, receipts, contracts).
- Pay attention to the specific dates and rules for each type of property transaction.
- Seek professional help to ensure the correct declaration and avoid problems with the tax authorities.
To declare the purchase of a property, for example, it is necessary to inform details such as IPTU, date of acquisition, address, among others, in the “Assets and Rights” form. Furthermore, consortiums and property financing have specific rules that must be followed for an adequate declaration.
In the current scenario, where Federal Revenue inspection becomes increasingly strict, following the new rules is essential. Organization and seeking professional guidance can be your best tools to face the lion. Thus, ensuring compliance and peace of mind with tax obligations.
