Cardenas Real Estate Agent Blog – Gran Canaria

There’s good news for the many holiday makers and ex pat property owners in Gran Canaria, the islands airport is to undergo a major expansion. Gando airport is on the east coast, just 25 kms (15 miles) from the popular southern resorts of Maspalomas, Puerto Rico and Mogan, and is one of the busiest in Spain.

The contract for the 124.6 million euro project has just been awarded to FCC Construction, a major Spanish company, and is expected to take 36 months to complete. The airport has been steadily growing since it was opened in April 1930, this new work will add more baggage reclaim areas, more check in desks, extra office and retail space, and a brighter more modern look.

The work will see the main building expand to the north, south and west, plus new piers for boarding ramps to allow bigger planes, like the Airbus 340, to use the airport.

By Cardenas News / Photo from Flickr by caribb

Since the Spanish Government decided in Spring 2007 to suppress the Wealth Tax as from the tax year 2008, some people hurried to conclude that non-residents property owners would not be taxable any longer, except for the municipal Land Tax (which is a tax on the property, not a personal tax) and that from now on, there was no need any longer to have a tax representative.

With the publication at the beginning of the year of the so-called “Tax Calendar” of the Agencia Tributaria (Spanish Tax Office), the situation as regards the taxes due this year for the previous tax year 2008 is very clear: the disappearance of the Wealth Tax has indeed lead to the suppression of the tax forms 714 (Wealth Tax) and 214 (simplified Wealth & Income Tax return), but the tax return 210 is maintained, in order to declare the locative value of the property not rented out (2% or in some cases 1,1% of the catastral value), and pay the Income Tax on the said locative value, the tax rate being 24% for non residents.  The said tax form must be presented before the 30th of June 2009.

Though the Income Tax amount is in most cases rather low, there is clearly an obligation to declare and we can only advise to fulfil that obligation.

Needless to say that if a non-resident is renting the property, his tax obligations have remained unchanged, i.e. to present quarterly tax returns (Form 215) and pay 24% of the rents.

Cárdenas Real Estate is happy to continue with the tax assistance service to non-resident property owners and to answer any questions related to such matters.

By Daniel García Chagrin & Rolande Chagrin Chevènement

There is a feeling among some potential ex pats, that a move to an island such as Gran Canaria will see them cut off from much of their home culture and entertainment, happily that is just a myth. Gran Canaria is a major attraction for international artists from all manner of musical backgrounds and eras. Re-located Brits in Gran Canaria will be licking their lips at the thought of seeing Tony Hadley, ex lead singer of Spandau Ballet in Las Palmas on February 26.

The venue is the Alfredo Kraus auditorium, which has a wide and varied programme of music and theatre throughout the year. To add to the international flavour, Tony Hadley will be backed by the Barcelona Jazz Orchestra, very appropriate for an island where music from many countries blends together.

In Gran Canaria you get the best of all worlds as not only do established international artists pop by to entertain, there is also a wealth of great Canarian music and culture, and with Carnaval season arriving in February, the outlook couldn’t be better.

By Cardenas News