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France launches new property tax incentive
Country: France
10 February 2009
A fresh tax incentive, aimed at boosting the construction industry in France by tempting people to invest in new or redeveloped housing, has been included in the amended 2008 Finance Law, reports Tax-News.com.
The new initiative allows individuals to reduce their income tax either by investing in property directly, or via a property investment company, or SCPI (sociétés civiles de placement immobilier). The two options available for investors differ slightly:
+ For any money directly invested in a new or redeveloped residence in 2009 or 2010, individuals may benefit either from a reduction in tax of 25% of the sales price, spread over a period of nine years, or may elect to ‘absorb’ their costs under the existing Robien scheme.
+ For any investment in shares obtained via the SCPI, however, individuals will only be entitled to a reduction in tax of 25% of the sum invested.
In both cases, the 25% reduction in tax is spread over nine years. Individuals will also have the option of a further two three-year periods at 2% per year, although a maximum deduction of 37% over 15 years will be implemented.
Individual investors will benefit from income tax reductions up to a threshold of €300,000 (£) invested in shares per tax year.
Anyone who buys property in France before December 31 2009 will be entitled to reduce their 2009 income tax accordingly.
See Also: France
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Price: £21,240
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Type: House
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Village house to renovate completely with existing planning permission. Foresee renovation work. The planning permission is for 3 levels with around 24 m2 on each level. Corner house with beautiful stonework visible throughout.
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Type: House
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Price: £24,638
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Type: House
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Bedrooms: 2
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THOUARS centre Ground floor, lounge, kitchen, shower with wc 1st Floor - 2 bedrooms 2nd floor Grenier UVPC Double glazing, electric heating sejour avec cuisine, debarras, salle d'eau avec wc - AU 1ER ETAGE : 2 chambres - AU 2eme ETAGE : grenier -
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Price: £27,187
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Type: Apartment
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Flat leisure land of 18 000 m2 located 500 m of a village with alla amenities. No water or connexion to electricity. Ideal for gardening or leisure for the WE. Land along a country road with an easy access. Lovely views. Peaceful location!
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Type: Apartment
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THE DEVELOPMENT
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Price: £29,736
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Type: House
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Property Details:
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Price: £29,736
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Type: House
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