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Help or Advice >> Help and Advice Wanted >> property Tax
http://www.tortosaforum.com/cgi-bin/yabb2/YaBB.pl?num=1207032030 Message started by ray123 on Apr 1st, 2008 at 8:40am |
Title: property Tax Post by ray123 on Apr 1st, 2008 at 8:40am
Is there anyone who can tell me what percentage of tax I must pay when I have sold my house. I am a non resident and have
been in the property two years, I am also retired Any advice would be gratefully received. [smiley=undecided.gif] |
Title: Re: property Tax Post by ColinB on Apr 2nd, 2008 at 2:13pm
Go see a gestor and get an authoratitive answer is my advise. Ramon Chorda in Amposta speaks American (sorry, English) nice bloke. 977 70 60 40.
Think you'll find there's Capital Gains Tax of about 18% on the equity but the cost of refurbishment, fees, expenses are added to the original purchase price thus lessening your exposure to CGT. There is an escape clause if you're a pensioner....over 65's don't pay any tax I think. Feed back welcomed whether this is right or not. |
Title: Re: property Tax Post by fatphil on Apr 3rd, 2008 at 4:45pm
I remember reading that you are only free from tax, if the money from the sale of the property is invested back into buying another property in Spain, allthough you are allowed two years to do so.
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Title: Re: property Tax Post by ColinB on Apr 3rd, 2008 at 10:50pm
Yup we were told that - forgot to mention it. Not sure what happens if u do not re-invest the whole amount though....but we will find out soon!
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