ISRAEL Law and Practice Contributed by: Hagit Bavly and Adi Daniel Zamir, Arnon, Tadmor-Levy
• ancillary expenses to the purchase and sale of the property (such as broker and attorney fees). 8.5 Tax Benefits Companies and “business entities” (including individuals that have opened an income tax file) that generate business income on real property can make ongoing deductions to their expenses on the property, and may deduct depreciation of the cost of purchase and improvements they had invested. As mentioned, any deductions made on an ongoing basis will not be recognised as an expense upon the sale of the property.
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