I live abroad and I own a property in France that is not yet completed or rented out in the tax year concerned, do I need to complete an income tax return?
Absolutely, do complete the French income tax return with a declaration of no income so you can still deduct expenses incurred in that tax year for the property such as interest paid on a mortgage, notary fees, land tax and renovation (not all deductions are listed here.) You can then carry forward the losses to apply when you start gaining income. This also applies to French residents that have a rental property but have not rented it out yet. If you do not file a tax declaration in the year the expenses are incurred, you lose your deduction.
Related Questions
- I live abroad and I own a property in France that is not yet completed or rented out in the tax year concerned, do I need to complete an income tax return?
- What French taxes must I pay if I live abroad, am a tax resident abroad but have French assets such as property?
- Do homeowners who live on the property get a tax break? What is the STAR exemption?
