- Austrian Federal Ministry of Finance clarifies tax treatment of rental income from luxury apartments
- Taxpayer purchased two luxury apartments in resort complex for exclusive tourist use
- Tax office refused to recognize properties as a source of income under hobby ordinance
- Input VAT deduction denied due to properties being deemed exempt “small rentals”
- Tax office issued preliminary decision dismissing taxpayer’s appeal
- Federal Finance Court upheld decision, citing flawed income forecast and lack of intent to make a profit
- Lack of proof regarding income due to various circumstances preventing construction of new hotel features
Source: news.bloombergtax.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
