The New Real Estate Tax
The new real estate taxation rules came into effect on 1 April 2012. They include numerous changes: The ten-year speculation period was abolished; as of 1 April 2012, capital gains from real estate sales are always subject to taxation. The tax rate is now, in all cases, 25% of the gains realised by sale (previously: up to 50%).
Of great significance in future are the flat rates for old real estate assets and the tax exemption provisions. The most important tax exemptions, for all practical purposes, are:
the existing exemption on main residences (at least two years’ uninterrupted residence prior to sale), the new exemption on main residences (period of at least five years’ uninterrupted residence during the last 10 years prior to sale), and the exemption on self-built buildings.
We will inform you about optimisation options with respect to flat rates, the existing possibilities for deductions, and the new self-assessment procedure, and make recommendations for tax-efficient profit calculations.
You will find the presentation here.