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No CGT on sale of principle residence.


Chancer

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There has been speculation about this for some while since the government announced it was looking at it as one option in the reform of I.S.F.

If you watched Le President Sarkozy on TF1 tonight you will have heard it from the horses mouth.

"C'est une voie que je ferme"

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Dunno, I had never even looked at the existing system, histoire de never doing any homework [:D]

You mean there were/are already taxes to pay when one trades up or down?

I thought the Notaires fees (yes I know they are taxes) were enough to stifle the market.

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[quote user="woolybanana"]But the charges sociales will stay?[/quote]

Indeed they never went away but subject to better informed opinion the taxes sociales whilst applicable to a capital revenue would in my opinion not apply to the sale of a house.

http://www.pratique.fr/csg-crds-prelevements-sociaux.html

Perhaps a confusion with "titres & obligations".  This is left in french with inverted commas to indicate that a french tax domain is concerned.

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  • 2 weeks later...

Can somebody please reply to this question?

Not that I'm planning to sell when the market is supposed to be this bad but, you never know, someone might just make me an offer that I can't refuse?

Here's to hoping..............................[:D]

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When you come to fill in this year's tax forms, you put down your current (new) address.  Having moved out of the Chateau, it is no longer your principal residence, but if you sell it within a certain period (currently around two years) then provided you haven't let it out or allowed relatives or friends to stay in it free of charge, then the sale will be exempt from capital gains tax.

 

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Thank you, SD.  I just want to do the right thing and, in any case, I very much doubt that I will make anything on Chateau 17, considering the amount I had to spend on updating the electrics and the fosse.

Notice I have said nothing about the cost of moat clearance.....[:D]

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