Useful information
Capital Gains tax on the sale of a second home has been changed and modified as from the first of February 2012.
The new calculation of the tax allowance on theincrease in value of the property following it's sale has been made official.
The calculation of your taxes on the increase in value of the property following it's sale.
Details of the scale of reductions
Here is the new official calculation of reductions to be applied on the amount of the increase in value of the property before tax.
- From the 6th to the 16th year: 2% reduction per year
- From the 17th to the 23rd year: 4% reduction per year
- From the 24th to the 30th year: 8% reduction per year
All properties benefit from a total exemption after 30 years of ownership
The amount of tax is 19% to which "social deductions" have to be added and which have increased to 13.50% as from the 1st January 2012. This means a total tax of 32.50% for French residents and 19% for other members of the European Union.
Compulsory dianosis for sale and rental
| Sale | Rental | |
|---|---|---|
| Electricity | yes | from 12/08/2008 |
| Asbestos | yes | |
| Termites | yes | |
| Gas | yes | |
| Risk State | yes | |
| ECD | yes | yes |
| Carrez Takeoff | yes | yes |
| Sanitation | 01/07/2013 |
Dianosis validity
| Report on the risk of lead exposure (CREP) | 1 year (if positive) Unlimited (if negative) |
| State indicating the presence or absence of materials or products containing asbestos | Unlimited |
| State on the presence of termites in the building | 6 months |
| State of the domestic gas installation state of natural and technological risks | 3 years |
| Energy performance | 6 months |
| State of Indoor electricity | 10 years |
| Prepared after the control of sanitation facilities | Set following a decree to intervene |