Roll-over relief on a main residence in
Spain is only available to Spanish tax residents.
To qualify you must:
Have lived in the house for three years
(or, if less, you had to sell because of
change of job, marriage or separation),
and
You must buy the main residence within two
years of the sale
The tax relief is based on the proportion
of the total sales proceeds reinvested in
the new home. If the new home costs more
than the price of the old home, then all
the tax is deferred (but payable on sales
of the new main residence).
If only half of the sale proceeds are reinvested,
then only half of the gain is deferred and
the other half is taxable in the year of
sale.
65 years or over
If the property sold qualifies as your habitual
main residence – meaning you have
lived in the property for over three years
and you are Spanish tax resident, the gain
is tax-free and there is no need to buy
a new property to claim roll-over.
Capital
Gains on Quoted Shares
Other
Capital Gains
The current tax rate on gains on investments
held for more than one year is 15%. There
is no tax-free minimum. Tax relief for assets
held for many years is 14.28% per year on
assets held before 31st December 1994, so
that after owning the assets for eight years
up to 31st December 1994 (i.e. in relation
to the sale of assets held before 31st December
1986) no tax has to be paid.
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