Impôt de Solidarité sur la Fortune

Banking, insurance, currency exchange, taxation, prices.

Moderator: Moderators

Post Reply
User avatar
blackduff
Rank 5
Rank 5
Posts: 850
Joined: Sat 30 Dec 2006 11:32
Contact:

Impôt de Solidarité sur la Fortune

Post by blackduff »

Maybe this was written previously but I couldn't find anything about this tax. This form was to be submitted by yesterday. I just read this article in The Connexion about this tax, although I have seen this elsewhere previously. I always thought this was included with the declaration but this seems to be different.

How many have sent this form off to the tax people?

If a person doesn't think they achieve the limit, is a form still needed?

€770,000 isn't too much, since homes are now very expensive. I guess they want to take all of my lunch money.

Blackduff
User avatar
Helen
Rank 5
Rank 5
Posts: 257
Joined: Tue 20 Dec 2005 20:08
Contact:

Post by Helen »

I've been researching away recently trying to get a feel for advantages/disadvantages of being tax resident in France and weighing up options.

Came across this:

http://www.french-property.com/guides/f ... h-tax#10.4

which seemed to be the best summary of wealth tax I could find.

Think you might find the info you need down towards the end of the page.
User avatar
blackduff
Rank 5
Rank 5
Posts: 850
Joined: Sat 30 Dec 2006 11:32
Contact:

Post by blackduff »

Hi Helen
I found this too. The main item is to decide what the value is correct for the property.

I have found a way, in my case. There's a house down the street. It was built at the same time. It has a bigger plot of land, a swimming pool, and seven bedrooms. My property is smaller, no swimming pool, and only four bedrooms. This house down the street had been sold within the past two years for 600,000 €. I suppose that my house would be worth about 500,000 €~then I can take the 30% for being a principle house, so my final cost for taxation will be 350,000 €.

I have a small apartment which is rented and this gives me a reduction of 20% before declaring the value. This still keeps my wealth is lower than the 770,000 € before the threshold of taxation.

So, since I'm lower than what has to pay tax, does this mean I don't have to declare this anyway and give the results to the tax man. I don't think not.

I've looked in French for a number of sites and doesn't if the form is just for people who have tax to pay.

Sure confusing.

Blackduff
User avatar
Helen
Rank 5
Rank 5
Posts: 257
Joined: Tue 20 Dec 2005 20:08
Contact:

Post by Helen »

I'm sure you've been on this site:


http://www.impots.gouv.fr/portal/dgi/public

(The 'particuliers' section has loads of info about all manner of taxes)

Seems to be the onus is on you to assess whether you are liable and if you are, then you can download the relevant form on the site.
User avatar
blackduff
Rank 5
Rank 5
Posts: 850
Joined: Sat 30 Dec 2006 11:32
Contact:

Post by blackduff »

Thanks Helen
This should have enough material for today to read. I'm starting to see how this is worked but it's not easy.

I was trying to put my head into the sand, hoping that the wealth tax would go away. Yet, the threshold for paying is very low. I would hate to need wealth tax but I don't think the €700,000 surely isn't richness. Two days ago I read the penalties if a person hadn't declared the tax. It's not going to be cheap.

I'm going to speak with a few of the French neighbors. This might give me a better overall view.

Blackduff
Post Reply