loopylurcher Posted September 13, 2007 Share Posted September 13, 2007 Does anyone know, please, the criteria for exemption from CGT based on what the French call "invalidity"? I cannot find any detailed information as to what may constitute exemption if a person is disabled (in this case has become disabled with a serious neurological illness since the house was purchased as a maison secondaire 4 years ago) I wondered if the criteria was "terminal" illness. Any advice or help would be appreciated. Thank you. Link to comment Share on other sites More sharing options...
Will Posted September 13, 2007 Share Posted September 13, 2007 You would need to talk to a notaire, or your local hôtel des impôts, these being the people responsible for working out and collecting such taxes on house sales. The notaires' website http://www.notaires.fr/notaires/notaires.nsf/V_TC_PUB/PLUS-VALUES-IMMOBILIERES suggests that there may be exoneration under certain circumstances, but does not explain what those circumstances might be. Link to comment Share on other sites More sharing options...
Sunday Driver Posted September 13, 2007 Share Posted September 13, 2007 Code Generale des Impots (CGI) Art 150 U III:I. - Sous réserve des dispositions propres aux bénéfices industriels et commerciaux, aux bénéfices agricoles et aux bénéfices non commerciaux, les plus-values réalisées par les personnes physiques ou les sociétés ou groupements qui relèvent des articles 8 à 8 ter, lors de la cession à titre onéreux de biens immobiliers bâtis ou non bâtis ou de droits relatifs à ces biens, sont passibles de l'impôt sur le revenu dans les conditions prévues aux articles 150 V à 150 VH.(snip...)III. - Les dispositions du I ne s'appliquent pas aux plus-values réalisées par les titulaires de pensions de vieillesse ou de la carte d'invalidité correspondant au classement dans la deuxième ou la troisième des catégories prévues à l'article L. 341-4 du code de la sécurité sociale qui, au titre de l'avant-dernière année précédant celle de la cession, ne sont pas passibles de l'impôt de solidarité sur la fortune et dont le revenu fiscal de référence n'excède pas la limite prévue au I de l'article 1417, appréciés au titre de cette année.You can view the full text of the code on http://www.legifrance.gouv.fr Link to comment Share on other sites More sharing options...
Tony F Dordogne Posted September 13, 2007 Share Posted September 13, 2007 My understanding is whether the house is a maison secondaire or not - and that if it is, you can't get relief on the grounds of invalidity. Link to comment Share on other sites More sharing options...
Sunday Driver Posted September 13, 2007 Share Posted September 13, 2007 TonyAs the above extract from the tax code says, you are exempt from CGT if you are the holder of a second or third category invalidity card (French, of course) and you were not subject to wealth tax in the year preceeding the sale and your income is below a defined limit. Link to comment Share on other sites More sharing options...
loopylurcher Posted September 15, 2007 Author Share Posted September 15, 2007 Thank you very much Will for the website, "Sunday Driver" for helpful comments. We have decided, because it is so complicated, to make an appointment with our notaire in Montmorillon as soon as possible and go through the issue in detail. Best wishes to everyone. Link to comment Share on other sites More sharing options...
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