
Sale - Villa - Mougins
Sea view
Reference : 3468
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9 900 000 €
At walking distance of the village - Panoramic sea view
SEE MOREThe Wealth Tax, in French Impôt de Solidarité sur la Fortune (I.S.F.), has been replaced at the 1st of January 2018 by the Impôt sur la Fortune Immobilière (I.F.I.) which has been limited to the real estate property (owned directly or through companies) and which is largely inspired by the I.S.F.’s rules excepting, in particular, the following two major new rules :
Under I.S.F. rules, in fine loans could be deductible in full, each year, provided that they met certain criteria regarding their purpose, timing, formalism and modalities. In other words, when complying with the above mentioned conditions, the full amount of unpaid capital could be offset each year against the taxable French (deemed) assets value.
The new rule, which has been codified in the article 974 II of Code Général des Impôts, has introduced an amortization element in the loan, so that the deductible amount will reduce annually taking into account the years passed since the initial subscription of the loan compared to the entire loan period.
Example : on 2018, a client subscribes a 5MEuros in fine loan, for 5 years duration, which fulfils all I.F.I. deductibility criteria. Each year, the percentage of deductibility of the loan will decrease by 100/5 = 20% of the initial amount lent, which is 1ME less each year. Therefore, on 2019, the client could offset 4ME only (i.e. 80% of the amount lent), 60% on 2020 (3ME), 40% on 2021 (2ME), 20% on 2022 (1ME) and, starting from 2023, no further deduction will be allowed regarding this loan.
Under previous I.S.F. rules and provided that they meet the above mentioned criteria, the loan’s capital could be deductible in full.
The New rule, which is codified in the article 974 III of Code Général des Impôts, has introduced the following limitation in the loan’s capital deductibility: when the market value of French real estate/shares of real estate Company exceeds 5ME and the deductible debts exceed 60% of such market value, such debt’s excess will be deductible only to the extent of 50%.
Example: a client purchases a French property for 10ME on 2018, fully financed by a loan of 10ME. The amount of the debt up to 60% of the property’s market value (i.e. 6ME) is fully deductible, while the amount of the debt exceeding 60% of the property’s market value (i.e. 4ME) is only deductible for 50% (i.e. 2ME). The loan’s capital deductibility is therefore capped to 6 + 2 = 8ME.
At walking distance of the village - Panoramic sea view
SEE MOREExceptional newly built property - 3 hectares - Sea view
SEE MOREContemporary property waterfront
SEE MOREContemporary villa 5 minutes walk from Club 55 and the beach
SEE MOREValbonne - Exceptional property
SEE MORELuxurious modern property - Closed Estate - Large volumes
SEE MORESplendid villa with panoramic sea view
SEE MOREStunning property
SEE MOREMougins - Residential area
SEE MORE2 exceptional appartments in Cannes
SEE MOREfamily house on the Pampelonne's beaches
SEE MOREAn elegant property in a few dozen meters from the port of Saint-Tropez
SEE MOREExceptional waterfront property
SEE MORESOLE AGENT: BAHAMAS. 227sqm.
SEE MOREExceptional property in prestigious domain
SEE MOREDream Location for this property
SEE MOREExclusive location for this family home
SEE MOREBeautiful renovated Provencal villa with sea and village view
SEE MOREA large property with sea view
SEE MORESumptuous modern villa with panoramic sea view
SEE MOREIn a beautiful area of Super Cannes, splendid villa of a living surface of approx. 600 sqm with a panoramic sea view
SEE MOREMagnificent newly built contemporary villa
SEE MORE