Minister announces extension of home subsidies
The Home Purchase Subsidy Scheme for Families (CSOK) will be available for pensioners who work beside meeting the general conditions of the scheme in the future, Minister for Families Katalin Novák said on her Facebook site on Tuesday, according to a report by state news wire MTI.
Under CSOK, launched in 2015, families with children may apply for up to HUF 10 million in grant money to put toward the purchase of a home.
While the 10-year ban on selling or giving away as a present the property bought by using CSOK continues to apply generally, parents will be able to put the property on their children's name during that period, she added.
Novák also announced that Hungarians will be able to reclaim VAT on bills paid for home construction and plot purchases up to HUF 5 mln from January 1, next year.
Legislation passed early December allowed Hungarians awarded CSOK subsidies to reclaim VAT on new home purchases. It also made all home purchases with CSOK exempt from duties from the start of 2021.
The same legislation lowered the VAT rate for new homes from 27pc to 5pc in 2021-2022, back to the preferential rate in force in 2016-2019.
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