The provisions of the new tax bill will provide pass-through entities a 20% deduction, depreciable tangible personal property and increase the restrictions on expenses allowed yearly. Real estate investment is often registered as entities through liability companies and partnerships and will benefit greatly.
The new law will expand to cover section 179 of the US Internal Revenue Code. Although, it is quite restrictive on which properties will qualify for the benefit of section 179, benefits can include various improvements to commercial real estate such as heating, air conditioning, roofs and security systems.
Purchasing a condo may be a more attractive option for foreigners than owning land because of the loosened restrictions on nationality. Real Estate Lawyers in Thailand can help with the acquisition of properties in Thailand.
Lawmakers are hoping the revised tax law will attract investment into private real estate and allow tax investors to realize the tax benefits of capital expenditure on property acquirements faster. However, some investors are worried about the higher price tags on property acquisitions that the law provisions will bring.
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