Passing on your wealth: tax measures that benefit families

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In the presence of the director of the tax department David Girardot and the director general of services (DGS) Philippe Million, the president of the Community Aline Hanson presented last week to the press a booklet detailing the temporary measures, voted in March by the Council territorial, in matters of property taxation. This document will allow Saint-Martin families to see more clearly.   

The President recalled the two main objectives of these measures - to promote the settlement of inheritances and to promote economic development by freeing up land - but also the importance of having in one's possession a valid title deed. Without this document, it is impossible for families to pass on their heritage. "The absence of title deeds limits land transactions and reduces the possibilities of private and public investment," said Aline Hanson.

Encourage donations and end joint ownership

All types of donations are tax exempt, regardless of the value of the heritage transmitted (until December 31, 2016). The COM, which also wishes to promote the exit of joint ownership, "will not collect any tax if the heirs decide to end joint ownership by dividing the property concerned", explained the president (until December 31, 2016).

Free up available land

In order to promote economic development, "the Territorial Council did not vote a scoop, but purely and simply provided for a total exemption from the capital gains made on the sale of building land or land supporting ruins", indicated the President, adding that to further increase the effectiveness of this measure, the Council has provided in certain cases, a reduced registration fee for buyers (until July 31, 2017).

A cadastre that leaves something to be desired

According to David Girardot, "we cannot talk about freeing up land, without mentioning the updating of the cadastre which is not technically reliable", "there is an important job to do" in Saint-Martin. Last May, the President of the Republic François Hollande announced a mission to the territory with state surveyors, responsible for carrying out technical work. At the end of this mission, in progress since last November 16, a report will be produced. "We then hope that large-scale operations will be launched to allow the COM to have a reliable cadastre," reported Mr. Girardot. "It is very meticulous work", underlined Philippe Million. “We have been asking for this work for many years. It was the arrival of the president who helped unblock this subject, ”added Mr. Girardot. This mission will run until next December 11.

All these measures relating to the taxation of heritage are detailed in a booklet, soon translated into English, available in many places on the territory - CCISM, Tourist Office, neighborhood councils and at La Poste - and also online on the site of the COM. The President also took the opportunity to point out that the guide “Doing Business In Saint-Martin” has been reissued in French and English and that “it still arouses great interest from investors”.

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