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Go Back   Pollensa Forum > LIVING & WORKING IN POLLENSA > Living & Working in the Pollensa Area

Living & Working in the Pollensa Area This forum is for any comments, questions and advice about living (permanently or temporarily) and working in the Pollensa area. Aimed at ex-pats, property owners etc.

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  • 4 Post By graham
  • 4 Post By Sparky
  • 5 Post By El Gordo
  • 2 Post By alcanadakid
  • 1 Post By graham
  • 2 Post By illeslex

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  #1  
Old 13-11-2014, 16:36
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Join Date: May 2014
Location: Pollença, Mallorca
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Default Non Resident with property in Mallorca, thinking of selling?.

Good afternoon,

On Friday October 31st, after the pressures and criticisms generated by the announcement of the elimination of the diminishing rate and the price-level restatement for 2015, an amendment was passed to keep the diminishing rate of property purchases prior to 1994 for the year 2015, with some limitations: these coefficients can only be applied to the first 400.000.- € with regards to the transmission. Also, note that this limit of 400.000.- € is per taxpayer, not per year.

This measurement softens the effect that generated the previous proposal for taxpayers with little assets, but it is still important to analyze the effect which is generated because once exceeded the limit, the difference of the tax is substantial.

Example: A taxpayer has the intention to sell a property which he bought before 1994 at a price of 300,000.- € and its current market value is 450.000.-€.

Solution: If the taxpayer sells the property before 31/12/2014 the income tax amounts 8.144,00.- €. Otherwise, if he sells from 01/01/2015 the income tax will amount 23.468,00.-.

It is obvious, that the difference between selling now or in 2015 is quite significant, so if you intend to sell the property should be sold still within the year 2014 in order to avoid the effect of this reform and possible surprises of your income tax in 2015.


If you have any questions, please do not hesitate to contact us info@illeslex.com ; Illeslex Abogados ; 0034 971 728 008

Best regards,
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Last edited by Sparky; 17-11-2014 at 09:06.
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  #2  
Old 16-11-2014, 17:53
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I am really sorry, but I must re-iterate my concerns about the style, content and tone of the posts made by this advertiser.

No one would question that they have every right to advertise on the site. I do question whether they have a right to 'advertise' in the forum.

This particular post is scare-mongering rather than informative, and the use of CAPITAL LETTERS is viewed by most web users as being aggressive and overbearing.

If I am alone in this concern then I'll happily get back in my box. However I welcome the views of others.
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Old 17-11-2014, 09:11
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Quote:
Originally Posted by graham View Post
I am really sorry, but I must re-iterate my concerns about the style, content and tone of the posts made by this advertiser.

No one would question that they have every right to advertise on the site. I do question whether they have a right to 'advertise' in the forum.

This particular post is scare-mongering rather than informative, and the use of CAPITAL LETTERS is viewed by most web users as being aggressive and overbearing.

If I am alone in this concern then I'll happily get back in my box. However I welcome the views of others.
I have changed the title of this thread but i think that Illeslex is really just trying to inform people who are thinking of selling their property that they could be facing higher tax bills if they wait until next year.
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Old 17-11-2014, 09:19
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Quote:
Originally Posted by graham View Post
I am really sorry, but I must re-iterate my concerns about the style, content and tone of the posts made by this advertiser.

No one would question that they have every right to advertise on the site. I do question whether they have a right to 'advertise' in the forum.

This particular post is scare-mongering rather than informative, and the use of CAPITAL LETTERS is viewed by most web users as being aggressive and overbearing.

If I am alone in this concern then I'll happily get back in my box. However I welcome the views of others.
I found the post informative.....Thanks

You are not forced to contact them

Thanks for keeping us informed about legislation that is relevant to many forum readers
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  #5  
Old 17-11-2014, 10:05
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Originally Posted by El Gordo View Post
I found the post informative.....Thanks

You are not forced to contact them

Thanks for keeping us informed about legislation that is relevant to many forum readers
I agree, it is useful information
pollensa and illeslex like this.
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Old 18-11-2014, 22:54
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Happily back in my box
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  #7  
Old 26-01-2015, 12:34
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Many thanks for your messages of support Sparky, El Gordo and Alkanadakid!
Sparky and MAG like this.
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