CGT on second homes lowered.

[NormanH]

To ease the new 30 year rule, an place since February, the new Government is introducing an extra 20% allowance 'abattement' to be set against the ccalculation of plus value

http://www.lefigaro.fr/impots/2012/09/14/05003-20120914ARTFIG00877-un-geste-fiscal-pour-les-residences-secondaires.php

[KathyF]

Thanks for this, Norman. I was interested to see that it's been done in an attempt to get the property market moving again, as is the imminent removal of CGT abattements for constructible land.

[parsnips]

[quote user="NormanH"]To ease the new 30 year rule, an place since February, the new Government is introducing an extra 20% allowance 'abattement' to be set against the ccalculation of plus value

http://www.lefigaro.fr/impots/2012/09/14/05003-20120914ARTFIG00877-un-geste-fiscal-pour-les-residences-secondaires.php

[/quote]

Hi,

   It seems this is to be a temporary (1 year?) measure as the article mentions a "window" for the high tax payers to continue to benefit from the "prelevement fofaitaire" of 19% plus the 20%  next year only.  After that it seems there may be further reforms to encourage the low tax payers to sell. 

[NormanH]

You are right parsnips.

L'idée est de créer une fenêtre d'opportunité en 2013, pour qu'il y ait un sursaut de ventes

This is one of those articles in le Figaro that develop more information with time.

It also seems that they are beginning to notice that taxes that are too high are counter-productive...