Over 65 and exemption from capital Gains?

We are (hoping) to sell our Spanish home in the not tooooooooo distant future!!!!

If there is truth in the exemptions for the over 65's then we can factor in a price reduction to help with the sale!!

Would appreciate any info on the subject.

My understanding is that you can claim exemption on your half of the capital gain and your spouse/partner on her half if either/both of you are over 65 and have been tax resident in Spain for at least the last three years and can produce the tax returns to the Hacienda to prove it.

Concise and clear answer.

Can one be tax resident in Spain but non resident in time?

You are tax resident in Spain ONLY if you have paid your tax in Spain and NOT in the UK.

I would think if you are a non resident you would not pay tax here.

Concise and clear answer - NO!!

If you are physically standing on Spanish soil for 183 days in the tax year (calendar year in Spain), you are tax resident.  Simples.  You are then liable to pay tax in Spain on your worldwide income.

jek.............................you are correct. However being LIABLE to pay tax in Spain DOES NOT mean that you do pay tax in Spain.

You cannot just say you pay tax in Spain, you must prove the fact.

Quite right; which is why I said in my earlier post "you are over 65 and have been tax resident in Spain for at least the last three years and can produce the tax returns to the Hacienda to prove it."



 

 Fuentearriba:

Answers:

Legal tip 359. No taxes on the sale of habitual dwelling for residents 
06 October 2010 @ 10:53