French Property Tax
Jul 4th 2003, 8:33 am
#1
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Thread Starter
Joined: Jun 2003
Location: Puy l'Eveque
Posts: 2
French Property Tax
We understand that there is capital gains tax to pay if you sell your French property within three years of purchase......anyone know what percentage this works out at, or how it is calculated??
Jul 18th 2003, 11:10 am
#2
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Joined: Mar 2002
Location: Languedoc
Posts: 243
Hi
No CGT is payable if this is your main residence (maison principale). Don't know if that could be interpreted as main residence IN FRANCE ?
Otherwise the profit, less allowable costs, is added to your taxable income.
There is a sliding scale over time, but I think it is many years before it is interesting.
There have been some long discussions about this here : http://www.livingfrance.com/cgi-bin/dcforum/dcboard.cgi
Peter
No CGT is payable if this is your main residence (maison principale). Don't know if that could be interpreted as main residence IN FRANCE ?
Otherwise the profit, less allowable costs, is added to your taxable income.
There is a sliding scale over time, but I think it is many years before it is interesting.
There have been some long discussions about this here : http://www.livingfrance.com/cgi-bin/dcforum/dcboard.cgi
Peter
Aug 2nd 2003, 2:39 pm
#3
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Joined: Jun 2003
Location: Puy l'Eveque
Posts: 2
CGT
Hi, thats we have been told over and over again......Until the visit to the Notaires yesterday......
He said that because I have not filled in a tax return form, even though I earn nothing from the UK and have no property anywhere else bar this one, that I will not be seen as a French resident and therefore have to pay CGT. I have been in France well over the 180 days I thought needed to considered domiciled here and done evrything in respect of getting the cart de sejour (6 MONTHS LATER and still they want more from me), carte vital (just got the attestation) & getting the car plates changed has been even worse, I even had to have it weighed yesterday, lol). I have spent far more than the average French person earns in 1 year since my arrival and paid the tax on everything, so why should I be asked to pay this? If I am not to be considered French resident thenmaybe all of my purchases etc should be tax free????Did he just not like me or would it be the same with any Notaire? Advice needed please...
He said that because I have not filled in a tax return form, even though I earn nothing from the UK and have no property anywhere else bar this one, that I will not be seen as a French resident and therefore have to pay CGT. I have been in France well over the 180 days I thought needed to considered domiciled here and done evrything in respect of getting the cart de sejour (6 MONTHS LATER and still they want more from me), carte vital (just got the attestation) & getting the car plates changed has been even worse, I even had to have it weighed yesterday, lol). I have spent far more than the average French person earns in 1 year since my arrival and paid the tax on everything, so why should I be asked to pay this? If I am not to be considered French resident thenmaybe all of my purchases etc should be tax free????Did he just not like me or would it be the same with any Notaire? Advice needed please...
