Most tax benefits for real estate investors should get into the ceiling of 8,000 euros. But these are not only changes in the project.
The tax reform proposed in the draft budget law for 2006 and the law on "national commitment to housing" may reshape the landscape related to tax rental investment from January 2006. What will change things much for investors is whether its investment is affected by the cap at 8,000 euros per household increased by 750 per dependent child of the total "tax benefits" or if he keeps a place apart. In the current projects fall within the cap investments Robien classic, Malraux, tourism ZRR. The overseas and Historic monuments beyond. In any event, nothing is final yet, the parliamentary debate on the Finance Act 2006 may extend until the end of 2005. In particular the operators or ZRR Malraux law does not disarm and intend to lobby with politicians so that their operations are wholly or partly outside the ceiling.
The new device Borloo
As part of the law on "national commitment to housing" which should come into force in February 2006, Jean-Louis Borloo has made the revival of new home "intermediate" one of its priorities. With two goals: to contain rising rents and expand the supply of rental properties. To attract investors, an attractive tax system will be implemented. The amortization to be deducted from property income and other income even when property deficit would be 6% of the investment for seven years, 4% for two years and 2.5% for six years. In return for this advantage combined with a standard deduction of 40% on the amount of rent received, several constraints exist for the investor:
- the obligation to hire at least nine years of the home as their principal residence for the tenant ;
- to the limits of rent 30% lower than the new home market;
- Taking into account the resource ceilings for tenants, modeled on those intermediaries rental loans (PLI): a taxable monthly salary of 5,483 euros for a couple with two children living in Ile-de-France, Euro 3818 in cities more than 50,000 inhabitants and 3,340 euros for the rest of the territory.
Basically, it comes back to the amortization Besson who combined these two constraints and had to "correct" the excesses of Périssol. Combining advantages and disadvantages, Borloo "People" should be used, however, the minister said, "a performance superior to that of Robien, or 7.4% or 9% if the investment is made from a loan very social. " Even with the Robien who obeyed only a ceiling rents, it was difficult indeed to exceed 6%! And yet, the ceiling of market rents was defined according to different areas circumscribed and at levels significantly higher. Xavier Chausson, president of Open Financial, quips: "This prospective investment performance Borloo is quite magical, given the purchase price ceilings resource rents from tenants and said intermediate remain to be defined." Unless you buy in areas where prices become are still very reasonable. But if returns are at the rendezvous, the gain will not necessarily be applied in all sectors. Especially in small areas that this device will help. In terms of ceiling, the fate of the device Borloo is not yet determined, although the Minister of Social Cohesion, Employment and Housing sincerely hope that "this product is not included in the niches."
Robien The "refreshed"
Depreciation Robien proven, although some rent ceilings, especially in smaller towns, have contributed to rising house prices. And that's the segment of the market towns of less 50,000 inhabitants (Zone C) as the maximum allowable rent could go down to about 20%, from 9.59 euros per square meter to 7.50 euros. The amortization period would be reduced to nine years, to 6% of the purchase price during the first seven years, and 4% the following two years 8% against the first five years and 2.5% the next four years Robien in the original. This will have little impact on the taxpayer, according to the Federation of developers and builders. In addition, as part of the reform of the taxation of property income, the standard allowance of 6% could be removed.
The improvement for Overseas
Those who invest in the overseas territories would be gratifying, as the Finance Bill, a specific framework given the economic importance of investment. They benefit from a limit which would be 8,000 euros and 750 euros for each dependent child 15% of net taxable income.
Inconsistency for ZRR
investment in a resort area located in a rural revitalization (ZRR) qualifies for a tax reduction equal to 25% of the purchase price, within of 50,000 euros for a single person and € 100,000 for a couple. This reduction is spread over four years, a maximum total reduction of 12,500 euros (3,125 euros per year) for a single person and 25,000 euros (6,250 euros per year). Entering under the ceiling, the investment risk of being penalized, which is bad news for the common hotspots for tourism. "This position lacks coherence, said Gerard Bremond, president of the Pierre & Vacances. The development of revitalization zones installed long ago. The development of these sectors is generating jobs in construction and in services such as the DOM-TOM. The deputies areas also involved preparing to leap.
Misunderstanding for the Malraux Act
restricted to taxpayers heavily taxed, the investment risk Malraux law also suffer from the ceiling. This tax provision allows an owner of a building in a conservation area or an area of urban architectural heritage and landscape deduct the losses resulting from land reclamation expenses on his total income, and without any ceiling . Again, this is the rehabilitation of historic centers that might be delayed while most elected officials see a return to the inner city. And again MEPs mobilis
source: lesechos.fr
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