Clipping of news on Brazilian Culture, Law and Citizenship
18/03/2013
This article was translated by an automatic translation system, and was therefore not reviewed by people.
It is common that taxpayers have many questions about how to report rental property at the time of filling the declaration of income tax. Whether for renters or who receives it is important to understand more about the issue and ensure the correct statement of the amounts earned in 2012.
For those who live in a rented property
If you live in a rental property, in the "Payments and donations made," you must report the amount paid monthly and the data from the lessor.
This expense is not deductible in the calculation basis of income tax as well as property tax and condo. The only way to deduct expenditure on payment of rent, concerns the self-employed, since the expense is carrying in cash book, proving that it is an essential expense for the performance of their activity.
For those who receive rental income
For a taxpayer who has a rental property and receives a monthly income coming this transaction, the form of declaration is different.
If this is your case, whatever the amount of rent received, you must tell the statement. Even though this recipe is free of IR, to sum it to other taxable income you can take it to the condition of the taxpayer.
In fact, a rent of £ 800, for example, is exempt from tax. But if in addition to a salary of £ 1500, which is also free, will cause the sum of monthly income go up to $ 2300, therefore, liable to taxation.
Already rents above R $ 1,637.11 should be taxed according to Progressive Table IR, the same applied on the income of individuals. The responsibility for the payment varies according to the type of contract:
Rent paid by a legal entity, if the property is rented to a company, it will collect the same tribute. And you only remaining obligation to inform the renter's name, your CNPJ, the amount of rent received in the year and the portion retained on the IR source. All this in the "Taxable Income received from PJ Holder."
Rent paid by individuals: Now, if the lease has been made by another person, then you must declare the value received in the "Taxable Income Received from Individuals and abroad", within the "Carnet Lion".
In this case, you can deduct the amount of rent expenses with fees, taxes and fees, since you have been responsible for these payments.
And unlike what happens when you rent a property for corporations, here the person liable for the tax you, through Carnet Lion, which already has its electronic version on the IRS website.
The taxpayer enters the information on the rental program and deliver DARF (Document Storage Internal Revenue Service), which can be paid at any bank.
Source: Uol - News
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This article was translated by an automatic translation system, and was therefore not reviewed by people.