- The Austrian Federal Ministry of Finance posted a Federal Finance Court decision online.
- The decision clarifies input VAT deductions for apartment rental activities.
- The taxpayer claimed negative income and input VAT deductions from renting a three-room apartment.
- The Tax Office denied the deductions, considering the rental activity a hobby.
- The taxpayer argued the rental should be considered a business activity.
- The Federal Finance Court found the rental activity was not intended for profit.
- The court classified the rental as a hobby, disallowing input VAT deductions.
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.
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