Jon-Bxl

Hi

There is a great tool to calculate any capital gains and other taxes on a property sale.

http://plus-values.notaires.fr/simulateur/index.xhtml

However I believe that you can reduce these taxes if you buy another place within a certain timeframe.

Is this true, please? Any details or links on estimating or simulating thus would be appreciated. Also the timescales/conditions please.

Whilst it is better to sell first and release the equity, I may have found a good place, and have a way to finance it, whilst waiting to sell my current property.: In other words doing it in 'reverse'

Does anyone know a site or information as to whether the tax advantages can still be applied once the current place is eventually sold, in 'reverse'. And if there are any conditions please?
​​​​​
Any info greatly appreciated.

Thanks Jon
PS this is a secondary residence & I am tax resident in the EU.

EuroTrash

AFAIK, CGT is due on a holiday home regardless of whether you buy another one either before or after selling the first one.

It rings a very faint bell that there possibly used to be, and maybe still is, some kind of exemption if you sell a holiday home in order to buy a résidence principale in France, or something along those lines. Maybe that's what you're thinking of?

Jon-Bxl

Thanks for the feedback. It was a while ago that I looked at this and I remember that if you bought within a year, you could reduce the base amount for the CGT calculation. Maybe I've got this wrong and for sure all the rules have changed since then. In those days after 15 years there was no CGT to pay. Then Hollande changed it to 30 years and one of the taxes to 22 years. Tapering after 5years or so. He also increased the taxation percentage.... so a quadruple whammy.

I wont be buying a residence principale, So its a second home change. But I have a faint memory of a 12 or 24 month grace period, and I wonder if that applies to buying before selling. This happens of course as people take out e.g bridging finance whilst waiting for the sale. So I was hoping that there was an allowance for this 'reverse' situation

Thanks
Jon

EuroTrash

The best place to get your answer is direct from a notaire. If I were you I would ask the notaire you used to buy the property, on the basis that (s)he will be the same notaire you use again when you sell, and therefore the person who will deal with the CGT issue.