One of the new features of this year’s process was the real estate rental assistant, through which many individuals were able to see properties listed under their name in detail. Although there have been no changes in the criteria determining who must pay taxes on rental income, accountants believe that the new tool will have a deterrent effect.
Read the full article in El Mercurio.
The first deadline of the 2024 Tax Filing Process ended on Monday, and according to the Internal Revenue Service (SII), between April 1 and 8, a total of 1,491,057 returns were received, representing a 6% increase compared to the same period in 2023. One of the new features of this year’s process was the real estate rental assistant, where many individuals were able to see properties registered under their name. The updated interface displays the property tax ID and the municipality where it is located. In addition, the SII requires taxpayers to indicate the status of the property, such as whether it was rented during the previous year, used for personal purposes, or assigned to other uses.
Deterrent effect
Felipe Salinas, Tax Director at CCL Auditores Consultores, believes that the assistant “has a tremendous deterrent effect.” He adds that “individuals who in previous years did not declare their rental income, whether due to lack of knowledge or intentional omission, will likely be more inclined this year to declare all their income, notwithstanding that income derived from the first two DFL-2 properties will continue to be exempt from taxation.”