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#1546 redwine

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Posted 31 January 2012 - 05:39 PM


Actually the new CGT tax law comes into effect tomorrow with its new 30 year rule!
Talking about taxes in France
Don't do what this unemployed architect did last week
He was in debt the tax man here wanted 26,000 euros from him
He had been unemployed for the last two years
Spent his time bringing up his two kids
He walked into the tax office told the staff that he was going to shoot himself
Went outside into the yard took out a revolver and in front of the staff and public
Pointed the gun at his head and commited suicide!

#1547 sleepless

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Posted 01 February 2012 - 04:37 PM

http://www.sarf.fr/index_EN.php

Thanks but this worked example relates to the old CGT calculation.

I need something similar for the latest CGT ruling, if anyone has one.

#1548 redwine

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Posted 01 February 2012 - 06:40 PM

I need something similar for the latest CGT ruling, if anyone has one.

I have one !
What do you want to know?
Seeing as you say that you are a "property expert" surely you should know?
Why don't you just ask the french tax office the same question?
The simple and easy way
Why don't you just ask the same question on a happy France forum ?
Full of lots of useless information and there English class system!
Its really simple
As from today you will have to keep your holiday for 30 years so when you sell you do not pay CGT
In reality this actually means 23 years when compared to the previous law
But its going to be changed again
Did you watch Sarko last sunday night?
New taxes yes
And guess what when it comes to holiday homes (even though the new tax law has not yet been voted)
Having said that you are a property expert not me
Please tell me what he is going to do ?
Ouch!

#1549 davidg

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Posted 01 February 2012 - 09:01 PM

The property form
Do you rent?
Do you own your property?
Do you rent furnished or un furnished property etc etc
Why a property form for a population census ?
They are collecting data


"they", that is the fisc, know a lot of this already, your local mairie almost certainly know a lot more about your circumstances.

#1550 redwine

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Posted 03 February 2012 - 05:36 PM

"they", that is the fisc, know a lot of this already, your local mairie almost certainly know a lot more about your circumstances.


My fault i should have said INSEE in the first place!
TBH i am not so sure if your local mairie really know a lot about your situation its up to you to contact them they won't go looking for you
When it comes to real administration or red tape then its your préfecture that really counts
BTW its cold here now -12c lots of snow in the alps
At least it is now heading west to Brittany where theres a weather alert due to heavy snow that will arrive this weekend
I would not like to be driving around Brittany this weekend !

#1551 redwine

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Posted 04 February 2012 - 04:44 PM

http://www.ladepeche...-le-marche.html

LaDepeche 1/2/2012
Grand Sud
Lot
Gourdon le depart des anglais a fait baisser le marché
Gourdon The departure of the English has created a fall in the market
Quote
An estate agency closed in Gourdon
We would like to know what the current state of the property market is in Gourdon
So we asked Christian Dolby manager of a local estate agency
How is the property market in Gourdon?
The market has fallen since the departure of the English
Before 6 sales out of 10 were made with the English
Today they are selling!
Thats why there is so much property for sale
Also we can no longer rely on the sale of a "holiday home" due to todays economic problems
We expected the "Papy Boom" or the young retired from the north to come and live here but they can't sell there property up north
Before the dream was to sell your property in Paris and come down here for a life in the sun
Today they are staying to look after there children and grand-children and even to do the shopping!
Due to budget restrictions the banks no longer give out loans to the young
Also here in Gourdon the vendors over-estimate the price of there property
The market has fallen by 30%
A house bought for 200K in 2003 is today worth a 140K
Today there are some real bargains to be had its not even worth building your own house!
What are the trends for 2012?
We have new clients from Belgium,Germany,Italy,Spain and even Norway
Tastes have changed buyers pay more attention when it comes to costs taxe fonciere and heating bills
They want comfortable modern homes!
With the elections and economic problems buyers will still buy but only when the price is low

#1552 davidg

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Posted 07 February 2012 - 09:38 PM

My fault i should have said INSEE in the first place!


The INSEE don't worry me.

TBH i am not so sure if your local mairie really know a lot about your situation its up to you to contact them they won't go looking for you


You'd be surprised, have you been to your mairie? In a big town they may not know much but in a village or small town they know everything.

My son's teacher is doing our local census, I doubt we'll ever see her seeing how much effort she puts in at school.

Geneva was a nightmare yesterday, burst main on the waterfront which meant road closures and traffic everywhere.

Edited by davidg, 07 February 2012 - 09:40 PM.


#1553 redwine

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Posted 08 February 2012 - 04:49 PM



Just to give readers in the Uk an idea of how cold it is here
A collection of photographs taken by Vincent Emery last weekend in Geneva
Yesterday a new cold record was broken in Switzerland
-35.5c

#1554 redwine

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Posted 08 February 2012 - 09:18 PM

The INSEE don't worry me.



You'd be surprised, have you been to your mairie? In a big town they may not know much but in a village or small town they know everything.

My son's teacher is doing our local census, I doubt we'll ever see her seeing how much effort she puts in at school.

Geneva was a nightmare yesterday, burst main on the waterfront which meant road closures and traffic everywhere.


Please enlighten me!
Tell me just what do they know about you in a small town or village?
As for your son's teacher who is doing your census
Is your son's teacher a French State civil servant or a Territorial civil servant?
I doubt very much that a State school teacher will be doing the census
I can understand a territorial civil servant doing this !
They are miles apart education wise, pay wise etc

#1555 davidg

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Posted 09 February 2012 - 10:55 AM

Well census papers completed and returned. The form about property looks just like the one I had ten years ago and ten years before that. I really can't see anything sinister in it to be honest, just the usual INSEE questions.

#1556 whalebone

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Posted 09 February 2012 - 12:15 PM

Hello everyone,

I have lived in France for 10 years and I have never seen anything of the like we are experiencing now.

To add we live in Cotes d'Armor. My wife works in the local hospital, son in lycée and another son in class prepa. Centre of family/economic interests are therefore centred here.

House prices are in reality in free fall. We sold our renovation just before the crash and rented for a bit, we have now brought a very small house, without a garden for 66% below the market value. At the signing the notaire even commented that we had brought the house at the 1983 selling price! Yes it does need a bit of work, but nothing too horrendous.

Anyway the point of my first posting on this site (which I have followed for quite sometime) is to ask fellow users what they see happening for the next 12-24 months?

Why the interest I hear you ask, well as we are looking at buying a second house further south, Charente, or below (to catch some sun in summer, well actually just to catch some sun as it appears to be something that is missing here). We understand completely the CGT issues, it will be our intention to eventually sell off our house here in Cotes d'Armor and move down further south. The time-scale of that move is 5-6 years. However securing a house at some of the great prices that are around now is so tempting.

I am going down to the Charente next week to take another look around, (5/6 hour drive from here) there really are some beautiful places there (although its damned cold there this week). I have been looking at property in the region for a couple of years now, managed to get a handle on the area, the current housing market and the exodus of Brits!

I ask about the property market in general for the next 12 - 24 months knowing full well that the major cities are where most of the statistical information is generated from, and also being fully aware that the debt/tax collectors, (the notaires) don't exactly tell the truth. I have watched as house prices have fallen in the last 2-3 years by about 20-25%. With the major changes now taking place, the French banks so badly exposed to debt in Europe, the new CGT issues, the chomage, the up coming election, which looks doomed for Sarko, one would think house prices will fall off a cliff. However, with 10 years of experience under my belt I actually am not too sure, the French never cease to amaze me. They place value on things that we Brits consider to be rubbish.....and they are prepared to wait to sell, even if they die beforehand!

Once I have spent the money it is a one way street. The housing market in the Charente is even worse than here, in fact I would describe Cotes d'Armor as dynamic by comparison!

I am very aware that if I buy off a Brit, then the price is very flexible, (although got to watch out for the dodgy renovations) however off a French person, not too sure. So my learned friends, what do you think? To buy or not to buy (isn't there a TV program with that name?) Or wait a few more months, perhaps, towards the end of 2012?

Thanks in advance.

#1557 redwine

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Posted 10 February 2012 - 05:14 PM

http://www.lefigaro....reste-salee.php

Le Figaro 6/2/12
Residence secondaire pour l'entretien la note reste salée
Holiday home for the up-keep the bill is expensive
Quote
La résidence secondaire still continues to make the French dream but this dream has a price.
The expenses of owning a "holiday home" weight heavy in your budget
Especially when you look at the time spent in the property.
On average (according to a recent opinion poll) a holiday home is occupied 42 nights a year.
30 by the owners and 12 by there close friends
A total of 4,500 euros a year in expenses ,costs and up-keep ,for a 'haven of peace in the countryside'
The bill works out at just over 100 euros a night
The costs
First furniture and DIY material
Next comes taxes evaluated at 1154 euros in 2009.
Local taxes this budget has not stopped increasing due to the never ending rise in local taxes
Other expenses to take into account building work!
Such as roof's ,floors ,walls ;electrics etc
An average budget of 12,140 euros spent over a five year period or 2428 euros a year
Worth noting that swimming-pools only account for 3% of holiday homes, but this can increase your bill to 17,720 euros over a five year period
Also on the increase VAT on building work
360 euros a year for a gardener and cleaner
280 euros a year for heating bills
House insurance 110 euros a year but on the increase
To reduce your bills you can try to rent out your house for holidays
Out of 3 million holiday homes only 1 million are on offer
You might recieve a maxi of 3630 euros a year but its not enough to cover your costs.

#1558 redwine

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Posted 12 February 2012 - 06:46 PM

http://www.challenge...-de-chuter.html

Challenges 9/2/12
Immobilier Les ventes de maisons continuent de chuter
Property The sales of houses continue to fall
Quote
The morose economic context and the reduction of tax advantages will create a fall in sales by 10% in 2012
The sales of individual houses should fall by 10% in 2012 when compared to 2011
A year that has already registered a fall of 10% according to the UMP (Union of French Houses)
The number of sales are 148,501 in 2011 a drop of 10% when compared to 2010
The sales of new houses built by developers should fall by 15% to 20% in 2012
An estimated 80,000 to 85,000 when compared to a 100,000 in 2011
The Grand West
Certain regions are badly hit when compared to the average
Grand West -22%
Languedoc-Roussillon -10%
Bretagne -13%
South West -12%
Nord-Pas-de-Calais -11%
Four factors explain the fall in the market
Rising unemployment
Rising interest rates
Old property considered as being over-valued
Reductions in tax advantages for new property
For 2012 the situation will continue to decline
A rise of 1% in interest rates creates a loss of 17,000 property sales
The new laws (RT2012) will increase the price of a sale by 8% to 13% and then the new VAT social law will be applied

#1559 redwine

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Posted 14 February 2012 - 06:28 PM

The English are on tv this Saturday afternoon
TF1 'Reportages' at 13.15 pm
A quick translation from tele z

Trois Anglaises et le continent
Three english women and the continent

It should of been a beautiful story .
'The good life' à la Française over the last few years.British couples with or without children.Came to live in the south-west of France.
Pretty houses a soft climate flowered villages and suddenly......the dream turns into a nightmare!
When the husband decides to leave.
This is what Mitch,January and Maria-Louise went through.
The English have sometimes a vision idyllique of France and the return to reality can hurt.

#1560 redwine

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Posted 16 February 2012 - 06:26 PM

http://www.lesechos....?xtor=EPR-1500-[patrimoine]-20120216-[s=461370_n=8_c=803_]-1048611@1

Les Echos 16/2/12
Les Deputes adoptent la hausse des prelevements sociaux
The MPs adopt an increase in "social taxes'

Last night the French g'vt voted yet another law an increase by 2 points in what they call 'social tax'
This affects certain saving accounts but it also affects capital gains tax
Quote
CGT
The rules have just be changed from 15 years to 30 years for all sales passed after the 1/2/2012
Before you paid 19%+ 13,5% in social tax or 32,5%
From the 1/7/2012 the total tax paid will go up to 34,5%
The increase will be automatic in the sale of property the notary will take into account the increase by 2 points
This takes affect from the 1/7/2012

Landlords are also affected again the same tax increase by 2 points from 13,5% to 15,5%
The increase will be taken into account on there tax declaration for 2013




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