Pixie Toadstool Posted February 3, 2011 Share Posted February 3, 2011 I have looked for links about this but am surprised that I can't find any mention of it.I have recently heard that the Government is considering taxing everyone on the sale of their primary residence. It looks like this has quite a lot of support amazingly!I seem to remember a figure of about 30% being given which will be a real pain for us as we have spent a lot of money doing up the house but can't prove most of it as we were ripped off by a Brit cowboy builder in 2000/2001 who never provided us with any receipts (and YES we were very naive then ...). Consequently we would be paying tax on money we have already spent!! We want to move from Normandy to the South in the short to medium term but thought we would hang on a bit longer until (hopefully) the house prices stabilise or increase. I would think this extra tax would push house prices down even further as it would be an incentive for people to sell before the new tax comes in.What do you all think about this and how likely do you reckon it is to come to pass - if so, when?Ta!Pix [:)] Link to comment Share on other sites More sharing options...
Sprogster Posted February 3, 2011 Share Posted February 3, 2011 Don't forget that you are already taxed on the sale of your primary residence, as I believe social charges are now levied against any gain for French residents.President Sarko wants to attract wealthy individuals to France and to do that he needs to abolish wealth tax. This will leave a hefty shortfall, which is likely to be recovered by new taxes on property sales and I think second home owners will be especially vunerable. Link to comment Share on other sites More sharing options...
Sunday Driver Posted February 3, 2011 Share Posted February 3, 2011 Gains arising from the sale of a principal residence are not currently subject to tax or social charges.The proposed introduction of CGT on the sale of principal residences is to offset the loss of tax revenue because of the government's desire to ease the burden of wealth tax. Details of the proposal as well as the impacts can be found in this article:http://www.lexpansion.com/immobilier/taxer-les-plus-values-immobilieres-au-risque-d-augmenter-les-prix_247063.html#xtor=RSS-130 Link to comment Share on other sites More sharing options...
Sprogster Posted February 3, 2011 Share Posted February 3, 2011 Apologies, Sunday Driver is correct, I meant second houses. Although, some believe that social charges could be extended to the sale of a principal residence. Link to comment Share on other sites More sharing options...
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