- What is the device of the 2015 Malraux law?
- What are the conditions to benefit from it?
- What are the tax benefits of the 2015 Malraux law?
Return here on the system of tax exemption provided by the law Malraux 2015. What are the tax benefits of this new law and what are the conditions to benefit from it? *
What is the device of the 2015 Malraux law?
The Malraux 2015 law proposes a tax exemption scheme for French taxpayers who invest or have invested, from January 1, 2013 to December 31, 2015, in the renovation of apartments located in protected area or in ZPPAUP (Urban Architectural Heritage Protection Zone or landscaped) for empty rental. Most of these are buildings located in the historic city center.
What are the conditions to benefit from it?
To benefit from this tax exemption, investors and works must meet several conditions.
- The Malraux 2015 system concerns all French taxpayers domiciled in France, within the meaning of Article 4B, who acquire or own property and undertake restoration work on the same property.
- Investors must undertake to renovate the entire building and then rent the empty (empty) housing to tenants who use it as their main residence for a minimum of 9 years.
- The works must necessarily concern the entire building and they must necessarily be followed by the Architects of Buildings of France.
- The lease commitment must take effect within 12 months of the completion of the restoration work.
What are the tax benefits of the 2015 Malraux law?
The tax exemption of the Malraux 2015 law allows a tax reduction calculated on the amount of restoration work:
- a reduction to 30% for buildings located in a Saved Area
- a reduction to 22% for buildings located in ZPPAUP that is to say in urban or landscape architectural heritage protection zone
The amount of work is capped at € 100,000 per year. And the tax reduction is spread over the period of actual payment of the work, which period must not exceed 3 years after the issuance of the building permit. In other words, this device allows a maximum tax reduction of € 30,000 per year.
* Article written in February 2015. The laws mentioned and their content are subject to change.