Billed as a priority tax by Nicolas Sarkozy, the possibility for a person wishing to become a homeowner to deduct interest on loans related to the purchase of a property will be next September.
The deduction of loan interest for the acquisition of property is possible so far as rental housing. This is part of the tax deductions that can lead to a shortfall in land. The owner or lessor shall complete the declaration in 2044 on revenue land. Other deductions are also possible as the work or property taxes.
But Nicolas Sarkozy wants to extend the possibility of deduction of loan interest to individuals who want to become homeowners. Currently, 50% of French are in this case. The purpose of this measure is to increase this number to 70% as soon as possible.
Besides the tax side of the measure, the new government of Nicolas Sarkozy shows the social aspect of such a proposal. In addition to the Borloo law that allows home buyers to 100 000, this should help build social housing in large numbers and to ensure that their occupants become owners.
The deduction of loan interest for the main residence, however, faces some uncertainties. First, are there a ceiling for such a measure? Probably yes, but how high? Then, what will happen there for the tax-payers? Probably a tax credit but how much? Finally, this measure will does the property prices to slow its steady inflation since about ten years? It is quite possible!
In any case, this measure will allow the most modest to deduct the loan interest of his principal residence or to obtain a tax credit and thus access to the property is a measure of both fiscal and social and especially popular!
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