Austria MOF Clarifies Deductibility of Costs From Sale of Real Estate

The Austrian Federal Ministry of Finance Jan. 9 posted online Federal Finance Court Decision No. RV/7102854/2024, clarifying the deductibility of costs from the sale of real estate. The taxpayer sold an acquired property and, in an appeal, claimed deductions for various costs, including acquisition costs and unspecified construction costs incurred. The Tax Office rejected the taxpayer’s appeal and found that the specified costs weren’t deductible acquisition costs. The taxpayer sought clarification on whether the specified bank processing fee and operating costs were deductible when determining the result from the property sale. On appeal, the Federal Finance Court held that: 1) ...