New tax legislation applicable in 2012
Applicable from 1 January 2012
• Exceptional contribution by high-income households (taxable income above €250,000 for single taxpayers, €500,000 for a couple)
- French and non-French residents (income from French source, including capital gains)
- Tax scale: 3 – 4%
Applicable from 1 February 2012
• Allowance for length of ownership: see table opposite
Exempt after 30 years' ownership
If brought into a company: effective from 25/8/2011
Building land (subject to conditions): effective from 01/1/2013
• New exemption for alienation of homes other than the principal residence (section 150U-II-1° bis of the French Tax Code):
- for a first sale
- the alienator must not have been the owner (directly or indirectly) of their principal residence during the 4 years preceding the sale
- if the proceeds of the sale are reinvested to acquire or build a principal home within 2 years. If only part of the proceeds is used, the exemption will be limited to such part.
• If the deed of purchase does not mention a price or (for alienations free of charge) value serving as a basis to calculate the conveyance tax, the actual market value on the date of acquisition can be used.