Thursday, June 07, 2007

Good news for property owners

The French government just decided to implement a law in favour to the property owners. You can now deduct 20% interest of your loan payment directly from your income tax. The maximum tax credit is 1500 euros per year for a couple or 7500 euros for single person. The tax credit is applied for 5 years period only.

Good news for us bcos we will be in our first year of loan payment and the interest is always the highest at the beginning. So we got to deduct from the highest amount we are going to pay. Yeah-Hoo!!

The government is finally taking care of the middle class. I'm sure the left side is going to make noise saying that some people can't even afford to rent and you are giving tax credit to those who own?

More information here in French.

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