Sashabel Posted October 4, 2006 Share Posted October 4, 2006 My husband spoke to our Notaire yesterday to inform him we were selling our house, and he said that as we were asking less than 125000 euros, there would be no CGT to pay. Not heard of this before. Is he correct? Would be lovely is he was!Sasha Link to comment Share on other sites More sharing options...
Will Posted October 4, 2006 Share Posted October 4, 2006 Haven't heard of that either, though there is an exoneration from plus values if the selling price is 15,000€ or less. See http://www.paris.notaires.fr/art.php?cID=9&nID=547Apart from the above point, it is the gain that gives rise to the tax rather than the selling price. Maybe the notaire meant that with the selling price you mention, after the various deductions (including the purchase price) and allowances, there would not be a big enough gain to pay tax? Of course if it is your principal residence (i.e. the house at which you are registered for income tax purposes in France) then no plus value will be payable. Link to comment Share on other sites More sharing options...
Sashabel Posted October 5, 2006 Author Share Posted October 5, 2006 Yes, I fully understand how the gains tax system works and it is not our main residence. However, he stated that as the price is under 125000 euros there would be no CGT. It seemed very odd at the time as we hadn't heard anything about this either. Link to comment Share on other sites More sharing options...
BJSLIV Posted October 5, 2006 Share Posted October 5, 2006 Roughly how long have you owned the house? Link to comment Share on other sites More sharing options...
Sashabel Posted October 6, 2006 Author Share Posted October 6, 2006 Only about 5 years - not long enough to benefit from the decreasing scale of CGT that starts after the 5 year ownership. Link to comment Share on other sites More sharing options...
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