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Monday, 01 December 2014 00:00

How will the sale of your home be affected from January 2015?

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So far, in the transmissions of properties applied update coefficients that allow correcting the monetary depreciation of immovable acquired before December 31, 1994. Also in transmissions assets (shares, properties...) acquired prior to that date were also applied coefficients of gloom.

From January 2015 indexation will no longer apply which means that accumulated inflation will no longer be taken into account when calculating the capital gain made from the sale of a property. This will involve a significant increase in the burden to the taxpayer. The reform also establishes limits on inflation relief for the transfer of assets with a price of over €400,000, the effect of which we will analyse some other time in this blog.

Here is an example of how the elimination of the said inflation relief affects the sale of a property to better understand it.

 

2014  2015  
Acquisition price: €100,000 Acquisition price: €100,000
Indexing (2014): 1.2560 Elimination of indexing
Acquisition price (indexing applied):
125.600€
 
Net sales price: €150,000   Net sales price: €150,000
Capital Gain: €24,400  Capital Gain: €50,000

          
Lets calculate the taxable amount (on the Capital Gain made)

2014  2015  
Up to €6,000: 21%  * Up to €6,000: 20%
€6,000 to €24,000: 25%     * €6,000 to €50,000: 22%
From €24,000: 27%  

               
The first €6,000 at 21% = 1,260   The first €6,000 at 20% = 1,200     
€6,000 - €24,000 at 25% = 4,500  €6,000 - €50,000 at 22% = 9,680
€24,000 - €24,400 at 27% = 108

TOTAL TAXATION 20145,868
TOTAL TAXATION 201510,880

Read 5478 times Last modified on Wednesday, 06 April 2016 10:10

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