Selling my home - is the law for getting a discount using the 11.11% law still valid?

[ifv]

Miramar

Adjusting the calculator following the instructions of Form 212, you would be eligible for a further 11.11% discount (you have to round up to the next figure when canlculating the number of years).

The result would be:

Date of Purchase 11/03/1993
Date of Sale 25/05/2011
Purchase Price 51,086.00 €
Purchase Costs 3,576.02 €
Sale Costs 7,800.00 €
Selling Price 250,000.00 €

Updated Purchase Price 70,557.74 €
Coefficient. 1.2908
Capital Gains 179,442.26 €
Days Between Sale and Purchase 6650
Days Between Purchase and 19/01/2006 4698
Capital Gains Subject to Reduction 126,769.89 €
Number of years for the calculation of the reduction 4
Reduction resulting of applying the inflation coefficients 28,168.27 €
Reduced Capital Gains 143,474.00 €
Capital Gains Tax Rate 19%
Capital Gains Tax 27,260.06 €

As for dickuk, the same applies:

Date of Purchase 01/06/1987
Date of Sale 15/06/2011
Purchase Price 40,000.00 €
Purchase Costs 3,300.00 €
Sale Costs
Selling Price 170,000.00 €

Updated Purchase Price 55,891.64 €
Coefficient. 1.2908
Capital Gains 114,108.36 €
Days Between Sale and Purchase 8781
Days Between Purchase and 19/01/2006 6808
Capital Gains Subject to Reduction 88,469.39 €
Number of years for the calculation of the reduction 10
Reduction resulting of applying the inflation coefficients 78,631.59 €
Reduced Capital Gains 35,476.77 €
Capital Gains Tax Rate 19%

Capital Gains Tax 6,740.59 €

However, please don't rely on the figures for your tax declaration. You should seek the assistance of a fiscal advisor before.

[miramar]

You mention form 212 in your calculations,but i think we need to use form 210,are the conditions and allowances the same?.....thanks...brian

[ifv]

That is correct. Form 212 was abolished at the beginning of this year, but I'm referring to it for simplicity. The calculations are exactly the same on form 210, now in force for submission of capital gains tax (see section 210 H).

[dickuk]

Just got my plusvalia tax price in - 17,800 euros ! Miramar, you thought yours was high !