In which cases there is an exemption of income tax for property leased for which it was paid IMU?

And 'possible IRPEF property tax exemption for which it was paid IMU, despite being the subject of a lease, even partial. From the house rented for part of the year, to use as a principal residence but with a portion leased. Let's see the cases in which the effect operates which involves the replacement of the income tax savings of individuals.

The payment of municipal own (IMU) may exempt the taxpayer from the payment of income tax (PIT) on buildings, the buildings, the land on which it has paid the IMU. This as a result of a substitution mechanism IMU - personal income tax introduced in the legislation that established the council tax. It is more precisely the goods not leased, but the Inland Revenue, with a circular, clarified some cases involving property leased, even partially, and the main house.

The application of the IMU, according to the article. 8, paragraph 1, of Legislative Decree no. 23 of 2011 should be carried out according to a specific provision containing the rule of substitution Irpef in case of payment of the IMU on non-leased. This article provides that the Municipal Tax's (IMU) "substitutes for the real estate component, the tax on personal income tax and the related additional due in relation to earnings related to assets not leased land, and local tax on property tax (ICI). " This is a very important aspect regarding the relationship between the tax IMU and the income tax personal income tax.

Taxpayers who have paid the IMU on assets not leased not have to pay the income tax on the same or, better said, the land revenue arising from these assets is excluded from the tax base on which we calculate the income tax personal income tax. This then allows the exemption from IRPEF when paying IMU. Exemptions from the payment of Irpef not relate to immovable leased, identified by the Revenue even in buildings that are not leased and not leased, the land is not leased, vacant properties loaned free, mixed-use buildings for the professional.

This principle that the IMU replaces, for the real estate component, the personal income tax and additional tax payable in respect of the land in relation to assets not leased, can be applied, either partially or entirely, even in some cases of local goods. We see aspects clarified by circular no. 5 / E Revenue Agency on March 11, 2013.

Leased assets for the year

Leased assets for a part of the tax period: The application of the substitution principle Income Tax by the IMU for commercial real estate leased during the tax year, however, highlights a particular case but frequent: the situation in which the 'property is leased for a part of the tax period (think of the owners of holiday homes). On this point intervenes circular no. 5 / E of March 11, 2013.

In the case of option for dry coupon. The circular says that the taxation of land from the lease of property for a part of the tax period for which the taxpayer elects to coupon dry, does not give rise to particular problems given that, according to the indications given in Circular No. . 26 / E of 2011, divide the period

between the sets in which the property is leased, with the application of the income tax rules, and the part in which the property is leased, with the application of the rules of coupon dry. In the case described the IMU and replaces the income tax payable in respect of the additional income to land on the only part of the tax period in which the property is leased.

In the case of absence of the coupon dry. In cases where the taxpayer does not opt ​​for the flat rate tax or not it is possible to opt for the flat rate tax (non-residential properties, residential property leased to non-residential properties leased to tenants who operate a business, or arts and professions) income tax rules for determining the income of the buildings provide art. 37, paragraph 4-bis of the Consolidated Income Tax Act:

- The comparison between the revalued cadastral income and the rent reduced lump sum (on the part of the tax period in which the property is leased);

- The competition at the income of the rent if higher than the annuity.

A rigorous application of the principle of replacement necessitates the exact subdivision of the tax period between the part where the buildings are rented and the part where they are not, in the same way as already indicated for the application of dry coupon.

Therefore, the IMU and replaces the income tax payable in respect of the additional income to land on the only part of the tax period in which the property is leased, while for the remaining part of the income arising from the building leased land is subject to income tax and additional calculated with the ordinary rules.

Example of calculation with partial income tax exemption / substitution IMU

Still in the area of ​​property leased for part of the year, circular no. 5 / E of 11 March 2013 provides an example of a property shall be made available from 1 January to 31 May 2012 and leased as from 1 June 2012 to 31 May 2013; annual fee EUR 12,000; rent 3000 € ( including the revaluation of 5%). Let's see how it is calculated the income tax payable on income from land 2012 and 2013 to be included in their tax returns or Act 730.

To property tax year 2012:

- Part of the tax period from 1 January to 31 May 2012: the income tax is not due on the income of the property is not leased land, as it is replaced dall'IMU. In the tax return (form 730/2013 or Unico Individuals, 2013), however, the taxpayer must indicate, in part B / RB also the data for the time of year in which the property is leased. The income of the property is not leased land will be reported in a separate line in the consolidated liquidation 730-3 or RN framework of Unico PF 2013.

- Part of the tax period from 1 June to 31 December 2012, the income tax is due on the income of the leased land, as it is not replaced dall'IMU.

- Period 1/6 - 31/12, determining the income subject to income tax: lease June 1 - December 31 = 12,000 x (214/365) = 7035.62; reduced rent a flat rate of 15% pursuant to paragraph 4 - bis) of art. 37 of the Income Tax Code (in force until 31 December 2012) = 5980.27; annuity June 1 - December 31 = 3000 x 214/365 = 1758.90, to be subjected to income tax the amount of the fee of € 5,980.27 . For the same period, 1/6 - 31/12, is also due to the IMU, as the property is leased and you do not have the effect of replacing Income Tax.

To property tax year 2013:

- Part of the tax period from 1 January to 31 May 2013: the income tax is due on the income of the leased land, as it is not replaced dall'IMU.

- Part of the tax year which runs from 1 June to 31 December 2013: income tax is not payable on the income of the property is not leased land, as it is replaced dall'IMU.

- Period 1/1 - 31/5, determination of income subject to income tax: lease January 1 - May 31 = 12,000 x 151/365 = 4964.38; reduced rent a flat rate of 5%, pursuant to paragraph 4-bis) art. 37 of the Income Tax Code (in force since January 1, 2013) = 4716.16; pension 1 January - 31 March = 3000 x 151/365 = 1241.10 to be subjected to income tax the amount of the fee of € 4,716.16. For the same period 1/1 - 31/5, is also due to the IMU, as the property is leased and you do not have the effect of replacing Income Tax.

Any option for dry coupon. Please note that an assumption of a taxpayer, if required, had exercised the option for the regime of withholding, pursuant to art. 3 of Legislative Decree no. N. 23 of 2011, revenue land as determined for income tax would be subject to the substitute tax using the tax rates provided for under that system (21% or 19% for certain contracts) on the lease without any reduction lump.

Lease of part of the main

One hypothesis is that constituted by the lease of part of the main. The peculiarity originates from the fact that the property is, for the owner, his principal residence for the entire year, although part of it has been granted lease (think of renting a room). At this point you have to understand if the IMU replaces the income tax paid as the leased property or the taxpayer is not subject to income tax on that land that property.

The IMU-income tax payment depends on the cadastral income. Assuming that the circular no. 3/DF of 2012 was admitted that the IMU may have a substitution effect and the Income Tax rate tax due on a leased asset, circular no. 5 / E Revenue Agency states that in that case it was held that the single IMU should apply in the event that the amount of the revalued cadastral income is greater than 5% of the annual rent (torn down due to the reduction or considered in its full amount in the event of exercise of the option for dry coupon).

They are, however, due to both the IMU that the income tax or withholding if the amount of rent (torn down due to the reduction or considered in its full amount in the event of exercise of the option for dry coupon ) is greater than the amount of revalued cadastral income of 5%.

Of course, if the lease of part of the main building covers only part of the tax period, as stated above in terms of comparison between rent re-evaluated and the rent shall apply only to the part of the tax period in which there is a relationship lease.

Deduction for primary residence and replacement IMU-income tax

With the art. 10, paragraph 3-bis of the Consolidated Act mechanism is envisaged for deducting the income of the main building: "If the entire income contribute to the income of the property used as a principal residence and that of the related works, we deduce an amount up to the amount of the cadastral income of the property itself and its appurtenances, compared to the period during which there is such a destination and in proportion to the share held by the housing unit. "

The circular no. 5 / E clarifies that the income of the main building, by virtue of the substitution principle IMU-income tax, does not contribute to the total income and, therefore, its deduction does not apply. Therefore having paid the IMU on the principal, the taxpayer should not consider the income tax payable in the calculation of the dwelling.

The circular points out that, until the tax year prior to the year 2012 by tradition, in the case of lease of part of the main home for the entire tax year (the example of a part of the dwelling be leased) and lease of the entire principal residence for part of the tax year (including the example previously done), the deduction for primary residence (though compared to the period of use of the property as a principal residence) was held only if the revalued cadastral income was equal to or higher than the flat-rate fee net of the reduction.

With effect from tax year 2012, the circular no. 3/DF of 2012, dealing with the hypothesis of the main "partially leased" for the entire tax year, specifies that in the case where the annuity is less than the fee applies only IMU and thus , no place the income tax deduction for primary residence. For the case in which the entire main house is rented for part of the year, it is necessary to divide the tax period between the part where the house itself is rented and the part where it is not. As already noted, for the part of the tax period in which the property is a principal residence, the relative income does not contribute to the total income and the corresponding deduction does not apply.

 

25/03/2013

----------------------------------------

Translated via software

----------------------------------------

Source:

Italian version of CercaGeometra.it