2023-05-06 16:36:24
IR: rent must be declared by tenant or landlord? The declaration of real estate Income Tax 2023 is one of the doubts of buyers, tenants and landlords. To avoid problems with the Federal Revenue, prior organization is essential. “It is very common to see people submitting to fines from the Revenue for lack of knowledge of the process”, warns Andreia Vellido, tax manager at QuintoAndar.
Therefore, the tax manager advises people to seek information in advance at the real estate agency. “Lots of [empresas]they even provide free online information that facilitates the process and manages to solve doubts”, says Vellido.
The deadline for submitting the statement is May 31. The Tax Authorities expect to receive up to 39.5 million declarations this year. To answer questions, check out the questions and answers below on questions involving real estate in the 2023 Income Tax:
1 – Who is responsible for the rent declaration, tenant or landlord?
The duty to pay the Income Tax on the rent is the property owner, who is the
liable for the receipt of rent amounts, not the lessee.
2 – Who collects the tax on a property sold is the seller or the buyer?
The seller is primarily responsible for collecting the taxes. The person who bought the
enterprise will pay the fees incident on the operation and other taxes, such as ITBI, Tax
Registry, among others.
3 – In addition to rent, what is the procedure for declaring other fees in the housing process, such as condominium fees?
In the case of rent, the payment of the monthly condominium fee is entirely up to
tenant, intended to cover the day-to-day costs of the home, such as minor repairs to the property,
water consumption, maintenance, cleaning and facilities for common use.
For specific expenses, which are the property owner’s responsibility, expenses such as: structural reforms of the condominium, installation of safety and fire equipment, telephony and intercommunication, as well as sports and
leisure, decoration and landscaping expenses in common areas, among others. These
Expenses must be included in the income statement of the property owner.
4 – What is the procedure when there is more than one owner?
When there is more than one owner of the property, it is necessary that both parties put
in the contract the percentage of each. It is essential that the lease contract contain the data of the two owners and the percentage of the values that each one left signaled.
5 – What can happen if the owner does not declare or incorrectly declare the Income Tax?
If there is any error in the declaration, the owner will be able to change the document at any time. If the document is delivered within the deadline, even if it has errors, adjustments will not be charged nor will there be any penalty.
For cases in which the declaration has not been made, the taxpayer will be evading the tax arising from the rent and will be subject to inspection by the Federal Revenue Service. the inspection
may charge the tax due plus default interest and apply a fine of up to 150%,
says the expert.
6 – How is the composition of the calculation of the rent income report made?
The composition of the Income Tax calculation on the rent is the gross amount of the rent
received, excluding expenses deducted, which are administration fees,
maintenance of the property, IPTU and condominium. The landlord must declare all amounts
received on your Income Tax, even if it is below the exemption limit, which is
R$ 1.903,98.
7 – What is the main tip for the annual adjustment statement in real estate transactions?
Andreia Vellido, tax manager at QuintoAndar, reinforces the importance of support
professional if you sold a property in the accrual year. “It is necessary to
guidance from a trusted accountant as there are many variables in this section in
income tax return.”
8 – If the owner has renovated his property, is it necessary to include it in the Income Tax return?
Yes, values can be included in the declaration, as long as the owner has all
documents to prove the improvements made, such as invoices. With
this, the expenses in the improvements can be added on top of the capital gain, as the
renovations will be included in the acquisition cost of the property. The documents proving the expenses must be kept in the taxpayer’s possession for at least five years after the sale of the property.
9 – Can the paid property change in value?
The value to be declared for a paid property is the total paid, even if there is appreciation. Year-to-year updates should also not be done. It is necessary to change the amount if
perform some expansion work that justifies the appreciation of the asset.
One tip is to keep the work receipts. If the taxpayer is called by the
Federal Revenue, it will be more practical to argue about the increase in value — this only if
Major works are carried out on the property.
10 – What not to do when declaring the financed property?
You should not put the property financing amount in the “Debts and encumbrances” tab.
Real”. The financed property is nothing more than a secured loan, since
is linked to a fiduciary alienation contract. Therefore, the property needs to be included in the
“Assets and Rights” tab, and you should not update the property price according to the market.
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