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Discussion Starter · #1 ·
Have I got this right?

Property is bought for €100k
Costs involved with the purchase including Property Transfer, Notary, Deeds etc €10k

Totalling. €110k

Property sells for €150k
Agent fees and income tax €9k

Capital gain is paid on the difference less costs involved €31k at circa 20%?

That sound about right?

Thanks
 

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We are currently in the process of selling an apartment, and went to the local Hacienda last week to clarify Capital Gains.

I am not too sure what you mean by 'income tax' but the 20% stated is correct (well in Andalucia!!) for a non main residence (2nd property). We were given an estimate of 25,200 euros capital gains to be paid as it is not our main residence (ouch!!!!!!)
 

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Discussion Starter · #3 ·
Thanks for that. That wold suggest a difference of the price you bought at and what you are selling at of around €126k, less all fees. I have only worked that out based on my understanding of CGT.

Does that change if this is your main residence but you are not a resident of Spain? I'm sure I have seen something somewhere about the main residence within EEU.

Again that could be wrong.
 

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Thanks for that. That wold suggest a difference of the price you bought at and what you are selling at of around €126k, less all fees. I have only worked that out based on my understanding of CGT.

Does that change if this is your main residence but you are not a resident of Spain? I'm sure I have seen something somewhere about the main residence within EEU.

Again that could be wrong.
Yes you are correct, the apartment cost us the grand sum of 4 million pesetas!!!!!

I am not sure how your property can be your 'main residence' but yet you are not a resident of Spain.

There are different rules for Capital Gains tax if you are resident and the property is your main residence, eg if you are over 65 years old or if you intend to purchase another property with the proceeds.

However I am no expert, if you speak Spanish it is worth making an appointment at your local Hacienda office, I have always found them to be very helpful, or maybe check with a Gestor who specialises in tax affairs.
 
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