Speculation tax on land from partial parcels
November 13, 2018 | 25,00 EUR | answered by Steuerberater Knut Christiansen
Speculation tax on property with 2 partial areas.
A property consisting of 2 parts is to be sold. One part of the property has been in my possession for decades and was enlarged through an additional purchase 1 year ago.
If the property is now sold, will income tax only be due on the profit from the newly purchased portion of the property, or will two separate notarial agreements need to be made to ensure that income taxes are not also levied on the "tax-free" old part of the property?
Good day and thank you for your inquiry at frag-einen.com!
In order to answer your question, I would like to know if there is a separate land register for the second property or if it is a separate plot of land?
If there are 2 separate plots of land, then they are definitely separable and only the purchased share would be subject to taxation. Two deeds at the notary would not be necessary, as the properties are listed separately in the deed. However, the purchase prices for the properties should also be listed separately (not as one total amount).
Best regards,
Knut Christiansen
Tax advisor
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