Germany may scrap tax breaks for home renovations, impacting millions
Germany's ruling coalition of center-right and center-left parties is reportedly considering scrapping the tax incentive for home improvement services, according to a report in Bild newspaper (Tuesday edition).
Sources indicate that coalition lawmakers are sounding out business associations to gauge the potential impact and feasibility of eliminating the tax break, with the aim of boosting federal revenue.
Currently, private households can deduct up to 20 percent of eligible craftsmanship costs—capped at €6,000 annually—from their income tax, amounting to a maximum benefit of €1,200. However, senior figures in the CDU/CSU parliamentary group told Bild they were unaware of any plans to abolish the incentive, citing sources within the faction. A spokesperson for the Federal Ministry of Finance, when asked by Bild whether the tax bonus was under threat, responded: "We have no comment on this matter."
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