Tax on French 2nd Homes

[Fishtigua]

The new Hollande goverment is to raise foreign owned second homes taxation. Rental income tax jumps from 20% to 35.5%. Capitol gains goes from 19% to 34.5%.

Got to love the Lefties.

http://www.telegraph.co.uk/finance/personalfinance...

[Puggit]

We don't make a profit, so Hollande can swivel.

As for CGT, the housing market in rural France has utterly collapsed and no one is buying holiday homes either due to fears about the Euro.

Only the extremely rich will be effected, and they'll have ways of dodging this.

[audidoody]

We have a small apartment in SoF bought in 2003 when the Pound was strong. Other flats in the block have been up for sale for three years without finding buyers. The market collapsed in 2008. Now it will be totally FUBAR. The net tax take will drop after this and local economies that reply on holiday home owners and renters will feel the pain. What is it about Socialists and their complete inability to understand cause and effect?

ETA: we don't rent. But everyone we know who does takes their rent in cash upfront from the "friends" who are staying in their apartments. Count on that to increase.

Edited by audidoody on Thursday 5th July 12:17