Legal tip 1300. Over 65 and selling Spanish property?
Monday, May 18, 2015 @ 3:08 PM
It is true I have no Capital Gains Tax obligation? What are my expenses?
Yes, it is correct! You need to be tax resident in Spain.
From 2015 on, residents in Spain are exempt of capital gains if- as always- they sell their first residency and reinvest in first residency within two years or...) and this is NEW!
You are over 65 years old and:
a) Sell your first residency even if you do not reinvest in first residency.
b) Sell any real estate asset and invest these funds in a life annuity as a complement of your pension, with a maximum limit of 240.000 Euros
Genalguacil, Málaga, South eastern Spain, at facebook.com