Wealth Tax on Spanish property

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    • June 17, 2008 at 2:51 pm #54086
      Anonymous
      Participant

      Hi,

      I saw somewhere on this forum and also read on a newspaper at the weekend that the Spanish Wealth Tax was discontinued from 1st January 2008 – is this correct? I questioned this with my solicitors and they said no this is not correct – any body through any light on the subject?

    • June 17, 2008 at 3:09 pm #84120
      Anonymous
      Participant

      From what I have read, it has only been abolished in some areas of Spain. It is still payable (at the moment) in Andalucia (sods law says it’s where we bought 🙂 ).

      Taking it off thread slightly, it has also been said that certain expenses can now be off set against rental income by non- residents now, that is how I understood a posting in another forum by a lawyer.

      Mark

    • June 17, 2008 at 3:09 pm #84320
      Anonymous
      Participant

      From what I have read, it has only been abolished in some areas of Spain. It is still payable (at the moment) in Andalucia (sods law says it’s where we bought 🙂 ).

      Taking it off thread slightly, it has also been said that certain expenses can now be off set against rental income by non- residents now, that is how I understood a posting in another forum by a lawyer.

      Mark

    • June 17, 2008 at 3:30 pm #84123
      Anonymous
      Participant

      Hi Mark,

      Thanks for that.

      Angela

    • June 17, 2008 at 3:30 pm #84323
      Anonymous
      Participant

      Hi Mark,

      Thanks for that.

      Angela

    • June 17, 2008 at 3:32 pm #84125
      Anonymous
      Participant

      Wealth tax is no longer applicable from 1 January 2008.

      The last return due is for the 2007 calender year.

      I did think that this only applied to residents, however I have been assured it also applies to non residents as well.

      As for allowing expenses against rental income could you pm me the forum as i was unaware of this.

    • June 17, 2008 at 3:32 pm #84325
      Anonymous
      Participant

      Wealth tax is no longer applicable from 1 January 2008.

      The last return due is for the 2007 calender year.

      I did think that this only applied to residents, however I have been assured it also applies to non residents as well.

      As for allowing expenses against rental income could you pm me the forum as i was unaware of this.

    • June 17, 2008 at 4:05 pm #84126
      Anonymous
      Participant

      Hi Angela

      You find all you need to know on wealth tax on this site follow

      http://www.spanishpropertyinsight.com/tax-and- … th-tax.htm

    • June 17, 2008 at 4:05 pm #84326
      Anonymous
      Participant

      Hi Angela

      You find all you need to know on wealth tax on this site follow

      http://www.spanishpropertyinsight.com/tax-and- … th-tax.htm

    • June 17, 2008 at 4:57 pm #84130
      Arthur Stuttard
      Participant

      As I understand it, it is only the patrimonio (wealth tax) which is being abolished.
      We will still be liable for tax on the notional income we could have received had we let the property, and will still have to make a tax return.

    • June 17, 2008 at 4:57 pm #84334
      Arthur Stuttard
      Participant

      As I understand it, it is only the patrimonio (wealth tax) which is being abolished.
      We will still be liable for tax on the notional income we could have received had we let the property, and will still have to make a tax return.

    • June 17, 2008 at 8:33 pm #84135
      Anonymous
      Participant

      Hi,

      Thanks for replies – I did read it here and also in the Sunday Business Post in Ireland – informed my solicitor and their reply was that there is a lot of confusion about this and that it has not been verified yet. Is there any official authority or website that I can check this with – as my solicitor is doubting me.

      😕

    • June 17, 2008 at 8:33 pm #84344
      Anonymous
      Participant

      Hi,

      Thanks for replies – I did read it here and also in the Sunday Business Post in Ireland – informed my solicitor and their reply was that there is a lot of confusion about this and that it has not been verified yet. Is there any official authority or website that I can check this with – as my solicitor is doubting me.

      😕

    • June 18, 2008 at 6:43 am #84140
      Anonymous
      Participant

      http://www.minhac.es/Portal/Prensa/En+Portada/2008/El+Gobierno+aprueba+un+plan+de+medidas+de+estimulo+economico.htm
      There is probably more out there but don’t have time to search rght now!

    • June 18, 2008 at 6:43 am #84353
      Anonymous
      Participant

      http://www.minhac.es/Portal/Prensa/En+Portada/2008/El+Gobierno+aprueba+un+plan+de+medidas+de+estimulo+economico.htm
      There is probably more out there but don’t have time to search rght now!

    • June 18, 2008 at 7:57 am #84141
      Anonymous
      Participant

      Were I to have the misfortune of using such an idle and ill informed solicitor I would tell him to get off his ar*e and do some research.

      For which he is paid, and you are not!

    • June 18, 2008 at 7:57 am #84355
      Anonymous
      Participant

      Were I to have the misfortune of using such an idle and ill informed solicitor I would tell him to get off his ar*e and do some research.

      For which he is paid, and you are not!

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