"Scellier" tax reduction for buy-to-let investment in new housing
Article 31 of the amending finance act for 2008 creates Article 199 septvicies of the General Tax Code. Individuals who acquire a new or off-plan home between 1 January 2009 and 31 December 2012, or have one built or renovated, receive an income tax reduction if they undertake to let it unfurnished as a main residence for at least nine years, subject to a rent ceiling. The reduction is calculated on the cost price up to €300,000, at a rate of 25% for homes acquired or built in 2009 and 2010 and 20% from 2011.
Measure originators
No official estimate found for this measure.
Measure impact
An investor who buys a new €300,000 home in 2009 and lets it for nine years can reduce their income tax by €75,000 in total, spread over the commitment period. The Senate general rapporteur stated that no estimate of the tax cost had been provided during the examination of the bill.
Official references
Sources
Procedure timeline
Follow the progress of this fiscal measure through the different stages of the parliamentary procedure.
Administrative implementation
Entrée en vigueur de la mesure et mise en œuvre par l'administration
Administrative implementation
Entrée en vigueur de la mesure et mise en œuvre par l'administration
President of the Republic signature
Publication au Journal officiel
Possible referral to Constitutional Council
Décision de conformité / censure partielle
National Assembly has the final say
Si échec CMP
Joint committee
Désaccord éventuel
Debate and vote
Debate and vote
Débat et vote en séance publique à l'Assemblée nationale, ou engagement de la responsabilité du Gouvernement (article 49.3)