Fabulous Tax Breaks When You Invest in Italian Property
If you’re considering buying property in Italy, did you know that you could be in for a favourable tax benefit?
Tax issues aren’t always top priority in prospective buyer’s minds, but this is something that you really must consider if you want to make the best investment choices. Even though you may have found the perfect country in which to buy, do you really want to get clobbered by expensive taxes? For some people, a dream is a dream no matter what, but if money and tax savings are a priority, then thinking through where you’ll buy could and taking care to take benefit from favourable tax regimes could end up saving you a packet.
Take Italy, for example. It’s not a fact widely known, but after five years of owning a property in Italy there’s no longer any Capital Gains Tax. What’s more, there’s no inheritance tax either if the property is left to a close relative such as spouse, or children, so you could be considerably better off in this regard than if you bought your property elsewhere.
“When people look to buy abroad, they very rarely take into consideration such matters as Capital Gains Tax and Inheritance Tax, but they should,” advises Italian property expert, Linda Travella. “It can make an enormous difference to the end value of their investment.”
Italy continues to be a popular place to buy property and has got plenty of options for aspiring holiday home owners. Property prices in the traditionally favourite regions such as Tuscany are high, but there are up-and-coming areas such as Calabria, in the far south of the country, where property is more affordable.
If you’d like to find out more about buying property in Italy, including advice about the financial side of things, then the BuyAssociation website has a podcast on Italy. Make sure to tune in!
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