Those who still create new apartments by the end of the year can save taxes
(Photo: dpa)
Frankfurt The housing shortage is still a big issue in many German cities. Nevertheless, the tax incentives introduced in 2019 for all those who create new living space and rent it out will in all probability expire at the end of the year. If you want to build or buy a new rental apartment or are considering creating an additional apartment in an existing building, you should keep an eye on the deadline.
Private investors who buy a new building or submit the building application for it by December 31, 2021 can still enjoy a considerable tax advantage. Over a period of four years, this can add up to 28 percent of the purchase or production value.
Anyone who owns real estate must pay tax on any rental and lease income, but can offset numerous costs in order to reduce the tax burden.
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