How to declare rental income to the Treasury

The personal income tax declaration campaign begins this 2023! If you are the owner of an apartment for rent , this is for you: we detail everything you need to know before declaring rental income to the Treasury this 2023 . Rent your apartment and forget about worries 0% late payment. We take charge if the tenant does not pay. GET INFORME FOR FREE How are rents declare in the income tax return? As every year, it is mandatory to declare the income from your rental home during the year 2022 in the income tax return for 2023 , since the Treasury considers them returns on real estate capital. Of course, you can deduct a series of expenses in your personal income tax return relate to renting your apartment. If it is also a rental of a habitual residence, you are entitle to a 60% reduction on the net income of your rental .

Steps to file the 2023 income tax return for your rented apartment

Before starting, be clear about the steps to declare your rental to the Treasury this 2023 : Open the draft of your tax return. Identify your rented home in Section C of Real Estate. Notify if the home has been empty during 2022. In those cases, the Treasury charges you income for the time in which the house could have been rented and, however, has been Saudi Phone Arabia Number Data at your disposal. Add up all rental income and put it in box 0102, without reductions. The result to be paid or returned from your income tax return will depend, therefore, on all your income, also counting what you have earned from rent. What expenses can I deduct from the rent? When paying personal income tax, you will only pay taxes on the net income from your rental apartment . For that reason, there are a series of expenses that are deductible: Mortgage expenses (not installments). In box 0104 of the income, you can deduct the mortgage interest and the commissions that have been charged to you throughout the year. Repair and conservation expenses.

Other deductions: energy improvement works

Additionally, if you carry out energy improvement works in your rental home , you can access more deductions: 20% for works that reduce the demand for heating and cooling . 40% for those works that reduce the consumption of non-renewable primary energy . 60% for energy rehabilitation Croatia Phone Number List works of the building . Recommended reading: Renting without a contract: what are the risks? Do you need help with your rent? Now you know how to declare rental income to the Treasury in 2023. But having an apartment for rent requires a lot of effort and dedication at all levels. For this reason, more and more owners entrust the management of their rental to a company that takes care of everything. At Housfy Rental , our experts will resolve any incident with your tenant so you don’t have to.