Provident funds can be used for the renovation of old communities. Heilongjiang issued implementation opinions on comprehensively promoting the renovation of old communities in cities and towns.

The "Implementation Opinions of the General Office of the People's Government of Heilongjiang Province on Comprehensively Promoting the Reconstruction of Old Communities in Cities and Towns" was released recently. According to the "Opinions", all localities should combine the transformation of old communities with urban renewal, community construction, sponge city construction, and domestic waste classification, and do their best to continuously improve living conditions. In 2021, 1439 old communities will be renovated in the province, involving nearly 400,000 residents.

According to the "Opinions", all localities should guide the owners' assembly and the owners' committee (property management committee) to formulate management regulations and rules of procedure in accordance with the law. It is necessary to clarify the payment standards for special residential maintenance funds, and establish and improve the system of supplementary payment, renewal, use and pay-as-you-use.

Localities should guide residents to negotiate and determine the post-renovation property management model, and implement classified policies to promote post-renovation property management. Encourage property service companies to legally intervene in advance, participate in the entire transformation process, and undertake subsequent property management in accordance with the law. Encourage the implementation of the property service remuneration system after the renovation of the community.

All localities must implement a quality inspection system for building materials and structural parts such as waterproofing and thermal insulation, regularly implement on-site sampling inspections, and investigate and deal with illegal acts in accordance with the law.

According to the "Opinions", all localities should follow the principle of "who benefits, who contributes funds" to determine the policy that residents will undertake different proportions of reconstruction funds according to different reconstruction content and reconstruction area, and use multiple methods to contribute funds. All localities must formulate reduction and exemption policies for people in need. Formulate policies to support residents withdrawing the housing provident fund, which will be used to renovate old communities and install elevators.

All localities should raise funds for renovation through market-based financing, investment by professional operating units, fiscal funds, and the use of state-owned housing sales revenue. It is necessary to guide financial institutions to support the implementation of the reform of old communities to adopt a market-oriented approach, using corporate credit bonds, project income notes, etc. to carry out bond financing. Actively seek for the National Development Bank, Agricultural Development Bank and other commercial banks to increase credit support for the renovation of old communities.

The "Opinions" clarified that it is necessary to attract investment from social forces to participate in the transformation through government procurement, paid use of new facilities, and implementation of asset rights and interests.

Professional business units participate in the transformation of old communities organized by the government, and the expenses incurred in the transformation of supporting assets such as the facilities and equipment that they have obtained can be used as the tax basis for the facilities and equipment, depreciation is accrued and deducted before corporate income tax . The maintenance and management expenses incurred can be included in the enterprise's current expenses and deducted before tax according to regulations.

In the transformation of old communities, construction projects used to provide community elderly care, nursery care, and housekeeping services are exempt from urban infrastructure supporting fees. Related real estate and land are exempted from deed tax, real estate tax, urban land use tax, real estate registration fee, cultivated land reclamation fee, land reclamation fee, and land idle fee in accordance with national regulations. If the air defense basement cannot be built due to geological conditions, etc., the air defense basement relocation construction fee is exempted.