If you have any doubt or questions regarding your Capital Gains How to work out capital gains tax on investment property, book an appointment with your notaire to discuss it. If you have owned the property for between six and 21 years you get an allowance of 1.
For the 22nd year of ownership you get a discount of 1. This means that for a property owned for 10 years you would get a 8. Prélèvements Sociaux element of the tax, for one owned for 15 years you would get a 16. It is possible to deduct some costs associated with improving a property when calculating Capital Gains Tax. However ‘general maintenance’ on a property is not deductible so it can be difficult to pin down exactly what is and isn’t eligible.
Often this distinction is down to each individual notaire to define. This will also be checked by the French tax authority. We’re really glad you’ve signed up to receive our newsletters. You will shortly receive an email asking you to verify your account.
There are a lot of different scenarios relating to the calculation of Capital Gains Tax. If you think you are going to be likely to have to pay, it can be worth having a chat with your notaire before you put your property on the market. There may be Capital Gains Tax implications which could influence the price at which you choose to market your property. They ensure the proper functioning of our services.