Income tax on rent, worked example, in Luxembourg
July 21, 2008
DISCLAIMER: The information contained above is marketing material only and is not written tax advice directed at the particular facts and circumstances of any person and should not be relied upon. We encourage you to discuss your particular situation with us or an independent tax advisor. This information was last updated on July 21, 2008.
1 The property is jointly owned by husband and wife.
2 The rate of depreciation allowance is 2% for properties over 6 years old.
3 The property value is estimated to be €330,275.
4 The property value is estimated to be €1,028,571.
5 The property value is estimated to be €2,400,000.
6 The income-generating expenses, including real estate tax, are estimated to be around 15% of the gross rental income.
7 The standard deduction is €480.
8 The applicable tax rate for non-resident individuals is not provided.