Joint notice a relief for couples
Updated: 2011-09-09 07:54
(China Daily)
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The Ministry of Finance and the State Administration of Taxation have jointly issued a notice saying no tax will be imposed when married couples change their property registration from sole ownership to joint ownership. The notice reflects the government's respect for public opinion and public interest, says an article in Huaxi Metropolis Daily. Excerpts:
The news that a "name-adding tax" could be imposed on a person changing his/her property registration from sole ownership to joint ownership with his/her spouse created a stir among the public, even though the State Administration of Taxation said it would discuss the feasibility of such a tax before imposing it.
People were wary especially because the media didn't sound optimistic that the proposal for the controversial tax would be withdrawn. But the joint notice has dispelled the public's fears now.
Making a spouse joint owner of a property is neither transfer of one's assets nor does it generate any income. So no extra name-adding tax should be imposed on married couples, for that would mean imposing double or extra tax, contradicting the essence of relevant laws and regulations.
In fact, the public debate resulted from the new judicial interpretation of the Marriage Law regarding ownership of real estate, which many say will "harm the rights and interests of women". But love rather than property should be the bond of a marriage.
The imposition of "name-adding tax" would have demonstrated couples' lack of confidence in marriage. The moment a couple notarize their property, they step into a trap of an invisible crisis and belie their love for each other.
Now that the Ministry of Finance and the State Administration of Taxation have, from an institutional point of view, eased the economic burden of couples, it is up to couples to find ways to protect their marriage and lead a life of love.