Renting out a garage and tax
Tax return
Income from renting out a parking space belongs in your tax return. Whether and how much tax is due, which costs can be deducted and whether renting counts as a trade depends on your personal situation. Sostivo cannot and may not assess that. A tax adviser or your tax office can give you a binding answer.
VAT
Renting out parking spaces is generally subject to VAT (section 4 no. 12 sentence 2 German VAT Act). As a small business you charge no VAT as long as your total turnover did not exceed €25,000 in the previous year and does not exceed €100,000 in the current year (section 19 German VAT Act).
Reporting by Sostivo
Sostivo is run by a sole proprietorship and therefore does not have to report hosts' income to the German Federal Central Tax Office. We do not ask for your tax identification number. You declare your income yourself in your tax return.
Please note
This text is not a substitute for tax advice. For questions about your own case, please talk to a tax adviser or your tax office.
General information, not legal or tax advice. More in the terms, the privacy notice and on cancellation.