Non Spanish Resident Taxes on Spanish Apartment

Hi,

Was hoping for some advice / comments on the above.

As I understand it, you are liable for tax in spain as a non resident for income received on renting your property at 35% of net rental income. What deductions are allowed to reach the net? I assume community fees, but for example are all mortgage payments or is it just the interest part?

Then, if you dont rent at all you have to pay a tax based on the value of the property (roughly 0.5% ie 2% of value x 25% tax rate).If you have a slow year of rentals can you be made to pay both? If so would it be up to the value of the non rental tax ie 0.5% is a minimum tax to be expected.

Sorry for all the questions just wanted to get clear all the potential costs.

Happy for a PM if people prefer this, thanks as always for help.

Darrel

http://www.advoco.es/advice/8-personal-tax/75-taxation-of-rental-properties-in-spain.html

Hi

Dont forget you will incure wear & tear on your apartment. There may often be a need to replace large as well as small items. We do not rent out now & havent for a few years other than to friends who just go & only pay electricity etc. We ended up having to replace beds becuse someone very large or children had broken the slats on two of the single ones as our property manager  at the time had not done a proper check. We also had a large cushion that was rather expensive go missing. How they got it in the suitcase I haveno idea.

 We had no proof who had broken the beds or who had taken the cushion as these incidents were not discovered until we went over ourselves & so we had to cover the cost our selves. In fact unless you have a really good property management team who do thorough checks using an inventory list you will always end up having to pay out.

 We claimed for the property management costs on our tax too

Hope this helps

Jan.