Income tax on rent, worked example, in Germany
January 26, 2015
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1 The property is jointly owned by husband and wife.
2 Estimated values. Actually incurred expenses effectively connected with the property can be deducted from the gross rental income to arrive at the taxable income (property management fees, maintenance and repairs, etc.).
3 Depreciation is available on the building only, not on the land. For properties with land, it is assumed that 70% of the total costs accounts for the building.
4 The 5.5% solidarity surcharge is levied on the annual income tax liability.
INCOME TAX 2010
|TAXABLE INCOME, (€)||TAX RATE|
|Up to €8,004||0%|
|€8,005 - €13,469||14% - 23.97%|
|€13,470 - €52,881||23.97% - 42%|
|€52,882 – €250,730||42%|
|Source: Global Property Guide|