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Financial & Legal

Scellier Law

kooky posted on 03/11/2009 at 17:43
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I have heard that this law is advantageous for first time buyers but i don't know what it entails. Could someone fill me in?
ilan replied on 04/11/2009 at 19:35
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I was interested in the scheme myself and was given the following info:

A new tax incentive scheme to encourage investment in rental property was launched in France on 1 January following adoption of the loi Scellier or Scellier Law (named after the politician who sponsored the legislation). In many cases more beneficial than the Robien and Borloo Populaire schemes, it gives the opportunity to claim a tax reduction equivalent to 25% of the property purchase price for 9 years (on purchases up to €300 000). So you could reclaim up to €75,000 on investments made before 31 December 2010, regardless of your marginal rate of tax.

jeffi replied on 05/11/2009 at 19:24
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So let me get this right: you can't live in the property or sell it for 9 years?
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