The loan offer withholds an amount on disbursement. At the same time, a calculation promises an immediate tax advantage for this. For a rented property, disbursement, economic loan costs and the timing of tax recognition must be examined separately. A reduced disbursement alone does not confirm a definite immediate deduction.
Understand the accounting side first
Our fictitious loan states a nominal amount of 200.000 Euro and a withholding of 10.000 Euro expressly intended as a Disagio. Only 190.000 Euro are disbursed, while the assumed initial principal liability is 200.000 Euro. Which payments and terms the real offer provides must be clarified on the basis of the documents.
The word “Disagio” is not a free grant. For a comparison, the entire actual payment schedule belongs to it. A lower ongoing interest figure alone cannot explain whether an offer with upfront expense is overall cheaper.
Do not answer the timing question from the name
§ 11 Absatz 2 EStG generally governs the timing of recognition of expenses incurred and contains a distribution rule for prepaid transfers of use of more than five years. For a Damnum or Disagio sentence 4 excludes this distribution rule to the extent it is customary in the market. [DISAGIO]
That does not amount to a blanket promise of an immediate deduction for every amount described in that way. Whether a deductible expense exists at all, what connection there is with letting and how market custom is to be assessed in the specific offer will be examined professionally. This article does not invent any general percentage/term threshold for that.
Label a tax assumption as an assumption
A fictitious sales calculation multiplies the full 10.000 Euro by an assumed personal relief rate of 35 percent and records 3.500 Euro as immediately available money in the purchase plan. That skips over several open prerequisites at once: permissible deduction basis, personal effect and timing of an actual tax inflow.
The 3.500 Euro are therefore in the example merely the result of an unconfirmed assumption. The present disbursement shortfall of 10.000 Euro must be credibly covered independently of that. Any later confirmed tax effect must also fit the timing of the cash need.
Proceed with a targeted question
Give the offer, disbursement schedule, evidence of use and the claimed tax assumption to the tax adviser. Ask for separate answers on the fundamental deductibility and on the correct period. Then compare the complete financing variants with the tax position actually clarified.
The decision is thus neither for nor against a loan with Disagio. What is visible is only which additional examination an apparently immediate post-tax saving requires.