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Since January 1, 2020, you can claim various tax deductions for energy-related property maintenance. Also new: The amounts can be deducted over several years.
Then you will no longer have to spread the maintenance work over several years in order to obtain a tax advantage. Since January 2020, investment costs that serve to save energy and protect the environment can be carried forward to the two following tax years. This means that if the investments in the first year are higher than the taxable income, the remaining amount can be carried forward to the next year (and the year after) in your tax return. Depending on the individual constellation, this can result in considerable tax saving or optimization potential for you.
Important: this only applies to energy-saving maintenance work. The usual maintenance work - if the amount is relevant - should also in the future be spread over several tax years.
Then you can deduct the deconstruction or demolition costs of the old property for the new building as replacement under certain circumstances.
A replacement building must be erected within two years on the plot of land of the deconstructed or demolished property. The use of the replacement building must be the same as for the old property.
Important: not all services are tax deductible. Therefore, all services must be listed separately on the invoice, together with the amount.
As mentioned above, excess expenditure from energy-saving investments (in this case dismantling) can now be carried forward to two subsequent periods. This means that if the costs are higher than the taxable income, the surpluses can still be deducted in the following two tax periods. In this way, you can achieve massive tax savings on income tax under certain circumstances.
There are still many unanswered questions regarding the implementation in practice - let our tax expert Christian Lingg advise and accompany you.
