Abstract:
In practice a contract of sale of immovable property is sometimes constructed
to provide for the creation of a separate usufruct in order to gain certain tax
advantages. This contribution deals with the implications of transfer duty, estate
duty, donations tax and capital gains tax in respect of this technique. Calculations
and practical examples are used to illustrate the consequences and pitfalls.
The uncertainty in respect of the implementation of the capital gains tax
principles dealing with limited rights is highlighted, especially the problem that
may be inherited by the bare-dominium owner in this regard.
