📩 08/03/2022 11:43
Independent Accountant and Financial Advisor Emre Özerçen said that rental income taxpayers should submit their declarations from the 01st day of March to the evening of the 31st day of March for the real estate capital income income subject to declaration for the accounting period of 2021 January - 1 December 31.
Informing that the "collection principle" is adopted in the acquisition of income from real estate capital, Özerçen stated that in accordance with this principle, rental income must be collected in cash or in kind in order to be subject to tax.
Noting that there are cases where the collection principle is not applied, Özerçen said, “If the rents for the next years are collected in advance, this income is considered the income of the relevant year, not the date of collection. There is no need for individuals to submit a declaration for their rental income for 2021, up to 7.000 TL in residences and up to 53 thousand TL in gross rental income in workplaces. If more than one person is a shareholder of a residence, the exception is applied separately for each partner. If the property and rights are owned by shares, each partner is required to declare only the rental income corresponding to his/her share. of the rental income obtained, in two equal installments in March and July in 2021; The first installment must be paid until March 2022, 31, and the second installment must be paid by August 2022, 2.
ELECTRONIC DECLARATION OPPORTUNITY
Independent Accountant and Financial Advisor Emre Özerçen gave the following information: “Taxpayers whose income subject to declaration consists only of real estate capital income can send their annual income tax returns directly in electronic environment by using the user code, password and password they will receive from the tax office, if they wish, as well as by sending an electronic return. They will also be able to send it electronically through a professional member who has been authorized. In the taxation of rental income, the net amount of the income obtained is determined by two methods as the Real Expense Method and the Lump-Sum Expense Method. The choice of real or lump sum expense method is made for all immovable properties. For some of them, the actual expense method, for the other part, the lump-sum expense method cannot be selected. Taxpayers who choose the lump-sum expense method cannot return to the actual expense method unless two years have passed. Taxpayers who choose the lump-sum expense method can deduct 15% of their revenues as a lump-sum expense against actual expenses. Those who lease the rights cannot apply the lump-sum expense method.