Attention new rule! The 2024 finance law imposed a change to the declaration of real estate wealth tax (IFI) for those who hold property through a company. Everything you need to know to avoid making a mistake.
Do you own one or more real estate assets through a company? Whether through a real estate company (SCI), a commercial company or even a holding company holding real estate (not exempt from IFI), this year, a change will impact your declaration, if you are subject to tax on real estate wealth (IFI).
Change in deductible debts
Indeed, until this year, almost all debts of a company owning real estate could be included in the deductible liabilities, but the 2024 finance law changed the situation. Since January 1, 2024, those which can be deducted from the base are only the debts relating to the assets concerned by the IFI, details the daily The echoes.
It will therefore always be possible to deduct energy renovation work, land tax, or even the amount of remaining real estate loans… But debts contracted by a company and not linked to the real estate assets concerned by the IFI will no longer be able to do so. ‘be.
Nearly 90,000 households affected
More than one household in two affected by the IFI is affected by this development, according to the economic news daily. For the latter, it is therefore impossible to simply update last year’s declaration; the calculations will have to be reviewed.
The measure was adopted to harmonize the rules, since individuals directly owning real estate assets were already subject to this limitation. It is an anti-abuse mechanism, indicated at the end of 2023 Christine Pirs Beaune, MP for Puy-de-Dme who introduced the measure.
IFI: the Court of Auditors wants to strengthen controls
In 2023, 175,980 households were subject to the IFI, according to data from the DGFiP. A number that tends to increase every year. The average amount paid by these households was around 11,100 euros in the same year. This tax, which was introduced in 2018, applies to households whose value of real estate assets exceeds 1.3 million euros. Last year, the IFI brought in 1.9 billion euros. An amount that could increase this year, with this new feature.