Capital Gain Tax for over 65s

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Pondy
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Capital Gain Tax for over 65s

Postby Pondy » Mon Oct 19, 2020 5:18 pm

Where do my wife and I stand being over 65s, and residents, in relation to selling our main and only residence here in Andalucia, with regards to any CGT on the property.

El Cid
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Re: Capital Gain Tax for over 65s

Postby El Cid » Mon Oct 19, 2020 6:25 pm

No CGT is payable if over 65.

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Re: Capital Gain Tax for over 65s

Postby Beachcomber » Mon Oct 19, 2020 7:05 pm

....providing that it has been your principal residence for at least three years.

Free at Last
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Re: Capital Gain Tax for over 65s

Postby Free at Last » Mon Oct 19, 2020 7:09 pm

Won't they also have to obtain certificates of fiscal residence from Agencia Tributaria, so that they won't have the 3% of the sale proceeds retained against a potential CGT liability, as non residents do?

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costakid
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Re: Capital Gain Tax for over 65s

Postby costakid » Tue Oct 20, 2020 8:01 am

adding on, what would an under 65 pay who was not a resident. Purely a holiday home.

Beachcomber
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Re: Capital Gain Tax for over 65s

Postby Beachcomber » Tue Oct 20, 2020 9:08 am

19% on the gain. If there is any!

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costakid
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Re: Capital Gain Tax for over 65s

Postby costakid » Tue Oct 20, 2020 10:42 am

I suppose that will increase once brexit is finally done. Hope its not back unto 35%.

katy
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Re: Capital Gain Tax for over 65s

Postby katy » Tue Oct 20, 2020 12:24 pm

Beachcomber wrote:
Tue Oct 20, 2020 9:08 am
19% on the gain. If there is any!
They usually manage to find a gain even if you are making a loss :D

katy
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Re: Capital Gain Tax for over 65s

Postby katy » Tue Oct 20, 2020 12:26 pm

costakid wrote:
Tue Oct 20, 2020 10:42 am
I suppose that will increase once brexit is finally done. Hope its not back unto 35%.
Possibly but it is only 24% for the rest of the world right now.

Beachcomber
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Re: Capital Gain Tax for over 65s

Postby Beachcomber » Tue Oct 20, 2020 3:10 pm

Yes, it is now 24% for fiscal residents of non EU countries but with many sellers currently making a capital loss it is not really an issue.


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