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Austria: New Depreciation Rules as part of Covid-19 relief package under review

On 15 July 2020, a draft bill for a law aimed at strengthening the economy in 2020 (Konjunkturstärkungsgesetz 2020) was approved by the second chamber of the Austrian parliament. Publication in the official gazette is now imminent. Part of the draft bill is an investment and relief package for entrepreneurs.

 

Two measures are particularly noteworthy for acquirers of Austrian real estate: (i) the introduction of an accelerated form of straight-line depreciation for buildings; and (ii) the introduction (for other assets) of the declining balance depreciation method as an alternative to the current straight-line depreciation.

 

For more details please download the file below.

 

For further information please contact

Peter Oberlechner
Peter
Oberlechner
Partner
Austria
Niklas Schmidt
Niklas
Schmidt
Partner
Austria
Melanie Dimitrov
Melanie
Dimitrov
Consultant
Austria

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