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How do I declare my investment in a property development or buyers' consortium or in a property fund for tax purposes?

If you jointly own a rented property or land with others, for example as part of a building or purchasing consortium or a property fund, the income and expenses for this property are determined collectively and separately, and the income is allocated to the participants according to their shares. This separate determination is not required for spouses who jointly own a property and are assessed together.

The consortium must submit a special declaration for the income to be determined collectively and separately. The tax office will then issue a notice regarding the determination and distribution of this income.

The same applies to investments in closed-end property funds. Investments in open-ended property funds are classified as income from capital assets. While the income in the first case must be declared in either Form V or Form G, in the second case it must be entered in Form KAP.

How do I declare my investment in a property development or buyers' consortium or in a property fund for tax purposes?