Friday, March 7, 2014

Taxation: the turn of the real estate now!

▪ What to say about the market yesterday ? Not much , my faith. The statistics were not hair-raising , the Fed did not ad -shattering , the ECB has not proclaimed breathtaking action ... and U.S. markets remained in bed, Martin Luther King Day forcing .

The CAC 40 has stood still , with a decline of 0.11 % on the day , to 4 322.68 points, only two billion traded . Not better in London, where the FTSE finished on a strictly equal score, 0.11 %, while the DAX in Frankfurt fell by 0.28% .

Since markets do not have a lot of opportunities , let's look at another aspect of the investment - taxes ... or rather taxation !

François Hollande beautiful game that taxes have become " too heavy " and a tax break is the program ... it gives with one hand and takes with the other .

Look for example real estate : land transfer will undergo an increase of not less than 10% in a few weeks , from 7 % to 7.70 % on 1 March 2014. This concern overcharged transactions signed after this date ... even the promise of sale was passed in 2013 !

▪ Worth Tax clubs
Philippe Béchade Pitbull explained to readers that " this new tax truncheon blow timely since the number of transactions of the former was already in freefall in 2013. Was time to give the coup de grace to a property market dying to end suffering ! There was an urgent need désolvabiliser a little more first-time buyers (now already very rare ) in order to permanently lock in the cozy status (co) locataires.L State ensures that the candidates to the property - and not happy heirs - will no longer disturb their banker to finance an unexpected extension after already difficult to obtain mortgages they prefer waive any transaction if the seller does not agree to make a move for the buyer to honor its envelope out . "

" Curiously enough, I think that person Bercy has never established a link between the inexorable rise in the cost of housing and the greed of the state," continues Philippe . " [ The state ] levies a tithe increasingly exorbitant when a real estate transaction is concluded ( because the higher the rate of rotation of a well accelerates plus tax mechanically explode price ... 50% after six disposals / acquisitions and now after 5.5 ) . perhaps the brightest who excel in the art of puncturing we have a housing function and therefore have no idea of the impact of taxes they concoct the purchasing power of the taxpayer or lambda activity in the housing sector as a whole . "

" Let their most concrete thing : an apartment worth 400,000 euros 428,000 euros returned after transaction costs under the old system , the same property will cost 431,000 euros integrating enhancement tax and VAT on the deed. And hop, 3,000 euros more that have cost the ink needed to print the decree of implementation. Say, it's better than the stock market in fact! "

"Now," contlue Philippe , " beyond the urgent need for recipes that taps the state ( he missed 14 billion euros from the assumptions on which was built the 2013 budget , the fault to an absent growth) order occult is it not euthanize real estate as an investment vehicle ? "

After the exchange, life insurance , attempts on the PEA , real estate now ? Savings of French is too good for our leaders resist the temptation to draw to fill their empty drawers.

Except that it goes a little further than just emergency bailout . For thus , politicians also make sure to keep their citizens in dependence : the more it is difficult to be you yourself retirement savings, home equity , a legacy for your children ... the more you need the Government to meet your needs ... and more likely they are to be re-elected.

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