Radical Change In Rental Law
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Here is the google.translate version of the article:
In the coming days the AFIP will enable its web page so that the renters of single housing can load into the system the current rental contract and the invoices of the lessor or owner. In this way, they will be able to deduct up to 40% of the sums paid from rentals of properties "destined to their house" with a cap of $ 4,330 per month or $ 51,967 per annum from the taxable income.
The measure is retroactive to last January, and one condition is that the tenant or tenant should not own any property, whatever the proportion.
The deduction of the rent of single housing was incorporated in the law of earnings of this year. Now, the AFIP is regulating its implementation - which benefits renters reached by Profits - but has already led to a debate on whether or not the rent could increase because when the tenant declares the rent, the owners must "bleach" the collection Of the same, with the payment of the tax, something that in a high proportion are not doing.
The head of the AFIP, Alberto Abad, said that "by March 1st the system will be enabled" and acknowledged that in addition to benefiting the tenant, the measure seeks to formalize the rental market as part of the general laundering of the economy .
As an example, the AFIP Chief explained that who pays a monthly rent of $ 6,000, can deduct up to $ 2,400 per month and could have annual savings of up to $ 10,080, depending on the effective rate that he is paying the tax. If the monthly rent was $ 15,000, for the cap, you can deduct $ 4,330 per month and the annual savings of the tax could reach up to $ 18,186 per year.
According to data from the Statistics Department of the City of Buenos Aires, in the last year there was an increase in the area offered in rents. Departments with 1 to 3 environments used represent the vast majority of rental units on the market. The growth rate was higher for all the used studio apartments, whose rental area increased, in inter-annual terms, by 27%.
In terms of prices, studio apartments increased their value in a higher proportion (37.7% year-on-year), reaching, on average, $ 4,899 for a base unit of 30 m2. The 3-room units had a similar evolution (36.5%), with an average for 70 m2 of $ 10,824. Meanwhile, 2-room apartments showed the lowest growth (34.9%), with an income of $ 6,831 - for a base unit of 43 m2.
German Gomez Picasso, director of Real Estate Report, told Clarín that "it is a good measure for the tenant, but it can cause a rise in rental prices. Is that in the vast majority of cases, the owners do not bill the tenants. In existing contracts, the numbers are already played. But in new contracts, homeowners could pass the cost of the tax they are not paying today to the price of future rent. Therefore, it can lead to some increase in the price of the rents ".
See also: Between Macri and guilds, provinces seek to set a single salary schedule
Armando Pepe, of the Real Estate Brokers Center, also maintains that the measure is positive for tenants and admits that in housing rentals, 50% of landlords declare it and the rest do not. But they will have no choice but to declare it. " Pepe said he does not think he will drive prices up because rents are already at a reasonable level.
Even if the landlord does not declare the rent, or does not have tenants, the tax rules say that he must pay a presumed rent for the property based on market values. However, in most cases, homeowners do not comply with that standard.
In the AFIP say that the contracts of tenants to be attached to the system will not require any special certification. In case of rent payments in real estate, the invoice that the company delivers to the tenant for their deduction of the income tax will be valid.
AFIP receives complaints and announces changes
The tenant who does not receive the owner's bill has to make the complaint, said yesterday the head of the AFIP, Alberto Abad.
And he did not hesitate to give his personal email to send the claims: [email protected].
He assured that "in no way will increase the rent. The price is given by the housing offer ".
On the other hand, until March 31, there is a deadline for completing the information related to income tax deductions, such as family members, domestic staff, medical expenses and others.
Until June 30, the sworn declarations of Profits and Personal Assets of those who do not pay this tax can be presented, but with a significant change: up to $ 500,000 per year will be exempt from making that presentation. Previously it was $ 200,000 for Personal Assets and $ 300,000 for Profits.
In the coming days the AFIP will enable its web page so that the renters of single housing can load into the system the current rental contract and the invoices of the lessor or owner. In this way, they will be able to deduct up to 40% of the sums paid from rentals of properties "destined to their house" with a cap of $ 4,330 per month or $ 51,967 per annum from the taxable income.
The measure is retroactive to last January, and one condition is that the tenant or tenant should not own any property, whatever the proportion.
The deduction of the rent of single housing was incorporated in the law of earnings of this year. Now, the AFIP is regulating its implementation - which benefits renters reached by Profits - but has already led to a debate on whether or not the rent could increase because when the tenant declares the rent, the owners must "bleach" the collection Of the same, with the payment of the tax, something that in a high proportion are not doing.
The head of the AFIP, Alberto Abad, said that "by March 1st the system will be enabled" and acknowledged that in addition to benefiting the tenant, the measure seeks to formalize the rental market as part of the general laundering of the economy .
As an example, the AFIP Chief explained that who pays a monthly rent of $ 6,000, can deduct up to $ 2,400 per month and could have annual savings of up to $ 10,080, depending on the effective rate that he is paying the tax. If the monthly rent was $ 15,000, for the cap, you can deduct $ 4,330 per month and the annual savings of the tax could reach up to $ 18,186 per year.
According to data from the Statistics Department of the City of Buenos Aires, in the last year there was an increase in the area offered in rents. Departments with 1 to 3 environments used represent the vast majority of rental units on the market. The growth rate was higher for all the used studio apartments, whose rental area increased, in inter-annual terms, by 27%.
In terms of prices, studio apartments increased their value in a higher proportion (37.7% year-on-year), reaching, on average, $ 4,899 for a base unit of 30 m2. The 3-room units had a similar evolution (36.5%), with an average for 70 m2 of $ 10,824. Meanwhile, 2-room apartments showed the lowest growth (34.9%), with an income of $ 6,831 - for a base unit of 43 m2.
German Gomez Picasso, director of Real Estate Report, told Clarín that "it is a good measure for the tenant, but it can cause a rise in rental prices. Is that in the vast majority of cases, the owners do not bill the tenants. In existing contracts, the numbers are already played. But in new contracts, homeowners could pass the cost of the tax they are not paying today to the price of future rent. Therefore, it can lead to some increase in the price of the rents ".
See also: Between Macri and guilds, provinces seek to set a single salary schedule
Armando Pepe, of the Real Estate Brokers Center, also maintains that the measure is positive for tenants and admits that in housing rentals, 50% of landlords declare it and the rest do not. But they will have no choice but to declare it. " Pepe said he does not think he will drive prices up because rents are already at a reasonable level.
Even if the landlord does not declare the rent, or does not have tenants, the tax rules say that he must pay a presumed rent for the property based on market values. However, in most cases, homeowners do not comply with that standard.
In the AFIP say that the contracts of tenants to be attached to the system will not require any special certification. In case of rent payments in real estate, the invoice that the company delivers to the tenant for their deduction of the income tax will be valid.
AFIP receives complaints and announces changes
The tenant who does not receive the owner's bill has to make the complaint, said yesterday the head of the AFIP, Alberto Abad.
And he did not hesitate to give his personal email to send the claims: [email protected].
He assured that "in no way will increase the rent. The price is given by the housing offer ".
On the other hand, until March 31, there is a deadline for completing the information related to income tax deductions, such as family members, domestic staff, medical expenses and others.
Until June 30, the sworn declarations of Profits and Personal Assets of those who do not pay this tax can be presented, but with a significant change: up to $ 500,000 per year will be exempt from making that presentation. Previously it was $ 200,000 for Personal Assets and $ 300,000 for Profits.
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