If you figured out where to find the property of your dreams just by clicking on the link to our website, then you will have to spend a little more time studying all the intricacies regarding the purchase process. Of course, our experts will always help with advice and action, but there are also aspects for which we cannot take responsibility upon ourselves, even if we wish. These include your income and its sources. Close interaction with the tax office arises in one way or another in the life of everyone who decides to buy real estate, so it’s worth preparing for it before your ignorance leads to irreversible mistakes.
How to avoid fatal “jokes” with the tax office?
When it comes to tax matters, there is no room for inaccuracies and indulgences. It will be useless to enter into disputes with amounts recorded on paper or a monitor, as well as when paying taxes. Therefore, care should be taken to ensure that the figures shown are true and that their source is transparent and recorded. Meticulous employees will take the time to rummage through your past and future to determine methods for shaping the present. When contacting them, you should be prepared for the following data to be subject to especially careful checking:
- source of income must be clearly recorded, official and coincide with the one you previously indicated in your declaration
- herself declaration can also raise questions and doubts, so you should approach its compilation with maximum responsibility and fill out the necessary lines at a measured pace in order to avoid unintentional mistakes
- yours Incomes from all possible sources must be recorded not verbally during employment, but in writing and in the relevant organizations
- costs are also worthy of being pointed out. Of course, every purchased bar of chocolate will not count, but larger and more expensive purchases may raise questions if you clearly cannot afford them
- real estate purchased independently, inherited or by gift is subject to equally close inspection
Few people can call communication with the tax office pleasant, but by following our simple tips, you can join the number of such lucky ones and save yourself from this headache forever.
💡 As for your profit, don’t forget about passive income. If you have previously purchased premium real estate from an agency THE Capital housing or commercial properties for subsequent rental, you should definitely indicate this in the declaration and register it as an official source of income. By regularly paying a small tax on rent, you will protect yourself from possible troubles and much larger fines.
How to prove that income was obtained honestly?
“Where do you get the money from?” - although not in direct text, this is the question that tax officials first ask everyone who enters the doors of their financial and legal kingdom. In society, it is not customary to poke your nose into other people’s affairs, but this is precisely the essence of the work of this service. It is not idle curiosity, but necessity and social responsibility that push for such daring measures. In order not to complicate the work of others and not to expose yourself, you should make sure that you can confirm the source of your income, whatever it may be. This “confirmation” has several key components:
- you will have to ask your management to provide you with income statement, confirming that you officially work for a particular company and have a fixed monthly income of a certain amount. Use the process of obtaining a certificate to your advantage - it’s time to communicate with the employer, discuss pressing matters and hint at a salary increase
- lease contract acts as a guarantee of security not only for you and your tenants, but also as confirmation of passive income for the tax authorities. A copy of this agreement will be useful to you during your visit to this executive authority
- You can earn money in different ways, but each source of profit must be clearly recorded, be it employment, bonds, investments or anything else
You can obtain confirmation of this or that income from the relevant organizations. So, if you go to your boss for a certificate from work, then you should register your entrepreneurial activity with the tax office. An accountant will help you prepare the necessary reports, and the bank will kindly provide you with account statements. Make sure that all tasks are completed in a timely manner to avoid confusion.
💡 From August 9, 2022, a new function began to work in the electronic public services service “Diya”, which allows you to receive a certificate of income in just a few clicks.
Simple tips to ensure that your meeting with the tax office goes smoothly
- You yourself understand perfectly well that it is better not to cross the letter of the law, but in order not to accidentally mess things up, you must know the current laws, your rights and obligations as a respectable taxpayer.
- Make it a habit to keep all financial records related to work, expensive purchases, bank statements and other significant transactions in a well-structured form.
- Do not hesitate to contact professionals who will be able to understand your affairs much better than you. At the agency T.H.E. Capital has a mix of experienced real estate experts and lawyers who can provide financial advice and help you on your way to purchasing a new apartment in your favorite capital.
Only your responsibility will allow you to go through all seven tax circles quickly and painlessly.
