property abroad (not let)

london_5

I would like to ask if anyone knows about owning a property in Spain, and which is not let (that is, it is only for family use). My question is: do I need to include this property in my tax return? (I receive 300 euros per year for this property from the Spanish Tax authorities, and it is considered as 1% of its "land registry value"). Many thanks if anyone can throw in any light. G.

Voyager2002

I wish we had tax authorities like that here -- imagine being paid by the government for owning property! Not surprising that Spain is in economic trouble if their tax collectors spend their time handing out free money.

00ec25

its just the same as any other form of income you get which has not yet had tax deducted from it - declare it on your tax return

missile

I think this may be a wind up? Or maybe OP has it backwards?

Spanish tax authorities levy a rental tax on properties which are owned by non residents even if they are NOT rented.

Tax on Deemed Rental Income is payable on urban property that is not let. This is calculated @ 2% of the property’s rateable value that has not been evaluated since January 1994; otherwise rate is calculated at 1.1%. You must pay 24% tax on deemed rents (this rate is increased to 24.75% for 2012 and 2013 tax years only). Deemed rental income returns also have to be filed by 31th December.

If they are rented, tax due is 24.75% of the rental income.