Persons who derive income from a private
residential lease which is registered with the Housing Authority as a long
lease, are eligible for a tax rebate against the tax chargeable on such rental
income.
The rebate is applicable on registered
leases as from the basis year 2020 where the tax on such lease is being paid at
the rate of 15%.
In the event that a lease falls short of
a full year, the rebate is reduced proportionate to the number of days for
which the lease is carried out. The
rebate for any year cannot exceed 15% of the rent derived for that same year.
The maximun amount of tax rebate is as
follows:
|
Lease Duration
|
Number of bedrooms
|
Tax Rebate
|
|
At least 2 years but less than 3 years
|
One
|
€200
|
|
Two
|
€300
|
|
Three or more
|
€400
|
|
Three years or more
|
One
|
€300
|
|
Two
|
€400
|
|
Three or more
|
€500
|
The tax rebate is to be claimed through
the online filing of the TA24.
The deadline for the submission of the
TA24 and payment of the tax on rental income received during the year 2020 is
30 April 2021. Late submissions are
subject to interests as prescribed by Law.