fionamw

I don't visit these parts (BE) very much any more but when I do it's often to just ask if anyone's up to speed on this or the other thing, often tax-related. This time I'm wondering if anyone knows categorically (yet) whether or not the government has opted to revert to 0% Wealth Tax from January 2015 (ie for 2014) ... there was much discussion and debate but my googlings haven't come up with anything definitive.

snikpoh

Wealth tax is already 0% up to €700k and then you get allowances. Do you mean that they might be planning to do away with that limit as well now or do you mean that everyone will have to pay some wealth tax?

fionamw

As I understand it each region can choose to follow, or not follow, the government's chosen limits/allowances. I'm aware of the 700k limit however this should in theory apply to all 'wordly goods' wherever, not just in Spain (depending in some instances on marital status, & how long you spend in Spain etc., I know). And yes, I'd read that they were proposing to increase the 'allowance against tax' to 100% . But as I said I can't yet find an 'official' link. I suspect the following MIGHT be a good enough answer for Andalucía, but even then I'm not sure! Impuesto sobre el Patrimonio - Consejería de Hacienda y Administración Pública

snikpoh

I haven't heard of any changes.

I don't understand your point about marital status - this allowance of 700k is per person so it doesn't matter if one is married or not - or does it?.

With the large allowance on property (300k?) one would have to be fairly wealthy to pay any tax at present. A married couple, for example, jointly owning a property, would have to have wealth in excess of 1 million€ each (I think).

fionamw

I think marital status makes a difference, from everything I've read... and quite a lot of people have still got a home in the UK which should be taken into consideration, hence it mattering!

snikpoh

I agree that it's world-wide wealth but that's still more than €1 million each before any tax might be owed.

I must be mixing with the wrong people as I only know of a couple of people in that category and one of them has just de-registered for tax reasons.

Fred James

it's a personal tax - marital status is not relevant - if it is jointly owned then you split the tax liability whether you are married or not.

fionamw

It doesn't just apply to a house, and it doesn't just apply to property in Spain though Fred - and I'd have sworn I read somewhere that there was a greater allowance for married couples but inevitably can't find it now!

Fred James

It was probably based on the fact that a married couple owning a house, pay less tax than a single owner because they both get an allowance, but that's not the same thing. It's an ownership question not a marital status question.