Income from Shared Economy

Income from Shared Economy

Aktuelles aus dem Steuer- und Wirtschaftsrecht​

You have an appartment or house located in Germany and let your home sometimes or usually to visitors and guests via online platforms like AirBnB, 9flats, Wimdu (2018)? Or you have already received a letter from the German tax office in this regard asking for the submitting of income?

If you rent your home or vacation home, it will be treated as your intention of achieving income resulting to taxable income of rental and leases.In case that you exceed the yearly allowance of 520 €, you have to pay German income taxes on the difference of income and expenses in this context.

Do not hesitate and contact us. We are happy to assist you to determine the rental income by consideration of costs like (partly) own rental fees, (partly) depreciations, (partly) additional charges for heating, cleaning, platform fees, care & maintanance costs, debt interest,furnitures… all of your expenses in connection with the rental income can be deducted and reduce your total German tax burden.

Please note that also applicable VAT and trade tax law should be checked in order to ensure that there are no further tax consequences.