'Denormandie' tax reduction for buy-to-let investment in older housing with renovation work
The 2019 Finance Act extends the buy-to-let tax reduction of Article 199 novovicies of the General Tax Code to older homes acquired between 1 January 2019 and 31 December 2021 that undergo renovation work, and to premises converted into housing. The work, invoiced by a company, must account for at least 25% of the total cost. The home must be in the centre of a municipality with a marked need for housing rehabilitation or that has signed a territorial revitalisation agreement (list set by order).
Measure originators
No official estimate found for this measure.
Measure impact
Affects individuals who buy an older home to renovate and let in eligible municipalities: tax reduction calculated under the 'Pinel' rules (rate depending on a 6, 9 or 12-year letting period), subject to rent and tenant income ceilings.
Official references
Sources
Procedure timeline
Follow the progress of this fiscal measure through the different stages of the parliamentary procedure.
Administrative implementation
Entrée en vigueur de la mesure et mise en œuvre par l'administration
Possible referral to Constitutional Council
Décision de conformité / censure partielle
President of the Republic signature
Publication au Journal officiel
National Assembly has the final say
Si échec CMP
Drafting of the bill (Finance Bill or Social Security Finance Bill)
Ministère compétent
Council of Ministers
Validation interne