"Besson" depreciation for new housing: letting to a parent or child allowed for homes acquired from 9 October 2002

Article 9 of the 2003 Finance Act amends Article 31 I 1° g of the General Tax Code. For homes acquired new or off-plan from 9 October 2002, or whose building start declaration is after that date, the owner may benefit from the "Besson" depreciation while letting the home to a parent or child, who were previously not eligible tenants; letting to members of the tax household remains excluded. Rent and tenant income conditions still apply. According to the Senate, depreciation is 8% of the price for the first five years and 2.5% for the following four years.