How to Buy Your First Home Tax Free In Greece

As the housing crisis in Greece rolls on, Greece’s Independent Authority for Public Revenue (AADE) has provided a much-needed usher addressing 17 communal questions astir tax exemptions for those intending to acquisition their archetypal home.

The usher clarifies eligibility criteria for minors, co-ownership, spouses, and auxiliary spaces and besides explains when tax exemption is revoked and when it tin beryllium granted a 2nd time.

Some of the astir communal questions are:

• Can a insignificant person a tax exemption for first-time homeownership?
• Is an exemption granted for a spot used arsenic a residence but registered arsenic commercialized space connected the gathering permit?
• Can a tax exemption beryllium granted a 2nd clip oregon aft the declaration has been signed?
• What applies to auxiliary spaces?

The cardinal questions encountered by AADE and the answers, arsenic provided successful the guide, are recovered below:

1. Does the first-home exemption use to spot transfers done distribution, consolidation, exchange, court-recognized ownership, oregon colony of inheritance claims?

   • No, the exemption applies lone when a spot is purchased under a ceremonial income contract.

2. Is the exemption granted if a spot is acquired done auction?

   • Yes, adjacent if the highest bidder is the spouse oregon a first-degree comparative of the auctioned party.

3. If someone owns a stock of a location oregon onshore that meets their lodging needs and transfers portion of it, tin they assertion a first-home exemption earlier 5 years person passed?

   • No, a five-year play indispensable walk earlier they tin suffice for the exemption again unless they merchantability their full ownership share.

4. Can a insignificant suffice for a first-home tax exemption?

   • No, but successful cases where an orphaned insignificant under guardianship buys a property.

5. If someone co-owns aggregate properties, however is their lodging request assessed for exemption eligibility?

   • The total surface country of each properties they partially ain is considered, excluding agrarian plots and properties successful small municipalities with less than 3,000 residents.

6. If 1 spouse transfers their stock of a jointly owned location to the different earlier 5 years person passed, does the exemption stay valid?

   • Yes, arsenic agelong arsenic the mates is still joined and the spot continues to conscionable their lodging needs.

7. If a spot lacks a ceremonial horizontal oregon vertical ownership declaration but contains autarkic lodging units, does the exemption apply?

   • Yes, the exemption covers the full property, including aerial rights.

8. Does the exemption use to the exclusive use of communal areas, but for storage and parking spaces?

   • No, tax is owed connected communal areas. The exemption lone applies to 1 storage unit and 1 parking space acquired successful the aforesaid transaction.

9. If an auxiliary space (e.g., storage room) is included successful a first-home acquisition but is listed otherwise successful the valuation forms, does the exemption still apply?

   • Yes, the valuation method does not impact the exemption.

10. Can a spot suffice for exemption if it is used arsenic a location but registered arsenic commercialized space successful its gathering permit?

• No, unless the gathering use is formally changed earlier the transfer.

11. Does the exemption use to a non-buildable crippled within metropolis limits awaiting readying approval?

• No, the crippled indispensable beryllium officially buildable astatine the clip of purchase.

12. Do registered civilian partners suffice for the first-home exemption similar joined couples?

• Yes.

13. Can the exemption beryllium granted aft the acquisition declaration is signed?

• Yes, a precocious amendment petition tin beryllium submitted within 5 years, on with supporting documents.

14. Can someone person the exemption a 2nd time?

• Yes, if their existing spot nary longer meets their family’s lodging needs and they repay the tax initially waived.

15. If a joined mates wants to bargain a location with the exemption, but 1 spouse antecedently used the exemption while single, bash they still qualify?

• The erstwhile exemption indispensable beryllium revoked earlier they tin assertion a caller one.

16. If the exemption tax is repaid owed to a 2nd exemption petition but the declaration is aboriginal canceled, is the tax refunded?

• Yes.

17. What happens if a spot acquisition declaration with an exemption is canceled, and a caller 1 is signed?

• If the cancellation occurs within 4 years owed to ineligible oregon exceptional reasons, nary tax is owed, and the exemption remains valid. A caller exemption tin besides beryllium granted for the caller contract.

Source: Tovima.com