Chrissie Posted March 6, 2006 Share Posted March 6, 2006 Sorry if I'm being thick, but can someone tell me if wealth tax is applied to 100% of your wealth or only to the part that is over the 750,000 or whatever limit? Obviously it makes a noticeable difference, about 4000 euros a year.I don't think we're affected[:D], but with the ever-escalating house values there must surely be more and more people coming into the bracket. I asked our tax lady about premium bonds, explaining how they worked, but she said it was a "jeu de hasard" and she wouldn't be interested unles we won "over 400,000 euros" and then she would get us for impot sur la fortune. Now I am totally confused. Where did that number come from?Chrissie (81) Link to comment Share on other sites More sharing options...
BJSLIV Posted March 6, 2006 Share Posted March 6, 2006 from "The Bible" Parkinson's book Taxation in France.......the UK exempts from tax savings certificates and premium bonds. Any such income will be taxable in France.....France does not tax lottery winnings but correctly regards the prizes on premium bonds as interest, because the bond is a negotiable instrument and the gambler can therefore recover his stake.Perhaps if you went to appeal you might be able to argue that it is the interest which is gambled to win a prize, but Parkinson usually knows what he is talking about.As for wealth tax, the first 750,000 is taxable , but the good news is that therate is 0%. Whats the diference? , well you would have to ask an accountant to explain............ Link to comment Share on other sites More sharing options...
BJSLIV Posted March 6, 2006 Share Posted March 6, 2006 Link to comment Share on other sites More sharing options...
Chrissie Posted March 6, 2006 Author Share Posted March 6, 2006 Oh yes, I was trying to explain that we OUGHT to pay tax on premium bond winnings, but she wasn't having any. I do try to be upfront and honest but sometimes people make it difficult! I'm glad to hear the first tranche of wealth is at 0%. If we're ever lucky enough to go over the top of that then I guess 0.55% isn't going to be unreasonable. Like most people, I guess, we are capital "rich" (i.e. big house and garden) and income poor, the moral of which is presumably to move to a smaller house - and spend the resulting cash difference before they tax it!Chrissie (81) Link to comment Share on other sites More sharing options...
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