However no obligation rental is required

Gives the Malraux device change

With the name of the Minister who did vote in 1962, the Malraux law allows investors to participate in the restoration of historical monuments while enjoying tax incentives. Must be that the property is located in a safeguarded sector or an area of protection of the heritage architectural, urban and landscape (ZPPAUP). In other words, areas with historic, aesthetic or character to justify the conservation, restoration and development. To take advantage of the device, must be that work is the complete restoration of a building, restoration which should have been declared of public interest.

Until the Finance Act for 2009, investment in Act Malraux had a deduction without limitation spending and land deficits (necessarily generated by work) the global income. But this Act changed the gives, transforming the deduction reduction. "Which significantly reduces the interest of the device for large taxpayers but makes eligible more investors although the amount of the investment is relatively high, the order of 300,000 euros on average," said Philippe Gury, product in future finance manager.

The investor may find a few still eligible operations in the former device. "It is sufficient that the building permit was filed before 2010 and for our part we propose yet", said Philippe Gury. But need to hurry because the operations of this type are increasingly scarce.

For others, the Malraux law is therefore less interesting, as now in the case of a reduction, it is affectedpiecemeal fiscal plane. From 2011, the reduction goes to 36 per cent (against 40 last year) in safeguarded sector and 27 in ZPPAUP (versus 30 previously), in the limit to a maximum of 100,000 euros of expenses taken into account since that work are validated by the architect of the buildings of France (land charges, repairs, maintenance, improvement, protection against asbestos, arrangements for access to persons with disabilities...). The tax benefit is however granted that in consideration of compliance with certain conditions: rental of the many bare for at least nine years (six years before 2009) to a tenant who is his principal residence. Editing is fairly complex, better is worth to appeal to a specialist.

Step of austerity for historical monuments

Unlike the Malraux law, device historical monuments, on the other hand, applies to the classified buildings (or included in the supplementary inventory) or as part of the national heritage because of their historical or artistic and approved by the public authorities. Or who have obtained a label of the Heritage Foundation.

Unlike the Malraux law from device (see table above, the purchase of a historical monument to deduct from its taxable income work.) "That the building provides income (visits, location...). "or not, if it finds land deficits, the investor may fully pass on its global income", yet note Philippe Gury.

The option for such a device requires a few constraints: expensive investment, impossible montage by SCI (real estate civil society) or condominium, detention for at least fifteen years... However, no obligation rental is required. Another advantage over the Malraux: it is not within the limits of tax niches.