Tax tips point by point. As a landlord, you can take advantage of these six tax opportunities.
1. deduct income-related expenses and use losses
If you rent out an apartment, you can claim costs related to the apartment as income-related expenses for tax purposes.
Ongoing Land Costs,
Building Depreciation,
Travel expenses and travel costs,
Debt interest from financing,
Renovation costs.
If you make a loss, you can offset it against profits in the next year. This immediately reduces your tax burden. If you always make a loss, then the rental is classified by the tax office as a hobby.
2. small entrepreneur turnover less than 35.000 Euro
As a small entrepreneur you are exempt from sales tax. However, this has the disadvantage that you cannot reclaim the input taxes paid (craftsmen's work) from the tax office. As a rule, you can do well with this.
3. subsidies
Invoices for housing maintenance, which were financed by subsidies, may not be claimed as profit-reducing expenses.
4. record the share for land and building in the purchase contract
You cannot depreciate the value of the land, only the value of the building. Therefore, you should record the purchase price of the real estate separately in the contract (show the highest possible share for the building in the purchase contract).
5. depreciation
Depreciation can be claimed immediately from the purchase of the property, even without renting it out in the meantime.
If you get an apartment as a gift or inherit it, you have to update from the previous owner, if a renting was not longer than 10 years ago.
6. sell tax free
You must have had your main residence there for at least 2 years without interruption.
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