Tax Example: Rent
January 19, 2015
1 The property is jointly owned by husband and wife. The property is assumed to be unfurnished for tax purposes (furnished properties are subject to a different taxation scheme).
2 The micro-BIC assessment can be utilized if the rental income does not exceed €32,000. This also allows offsetting 50% of the gross income as expenses and depreciation. This assessment is applied in the first case.
3 In this case, the micro-BIC assessment does not apply because the rental income exceeds €32,000. Therefore, the costs are estimated values.
4 Depreciation expenses are deductible when calculating taxable income. Estimated values.
5 The minimum income tax rate for non-residents is 20%.