The Income and Wealth campaign for the 2022 fiscal year begins on April 11. From then on we will be able to prepare the draft and present it online. Before that, we should be sure to check that we are deducting or deducting all possible expenses so that we pay less if we pay or they return more if we do.
With a few days to go before the start of the 2022 Income campaign, taxpayers must update their accounts in order to justify all the expenses and income received during the previous fiscal year.
Deduction for rent
If you live in a rental situation, you can deduct this at the state level. Also at the regional level, although it depends on the Autonomous Community. Regarding the state tranche, the rent can be deducted by those tenants who have signed their contract before January 1, 2015.
As detailed by the Tax Agency, 10.05% of the amounts paid in the tax period for the rental of your habitual residence may be deducted, provided that your tax base is less than 24,107.20 euros per year and, without prejudice to the deduction for rental of habitual residence that, if applicable, for each financial year, has been approved by your Autonomous Community. Regarding the regional section, in each region certain percentages and maximum bases are applied for the deductions.
Deduct your rent as the landlord
Landlords and landlady in Spain not only have the possibility of declaring the home they have rented, but it is a tax obligation for them. These incomes are considered as income from real estate capital.
In addition, you can deduct other expenses related to the rented house, such as interest or mortgage costs, home insurance, community expenses and those related to the repair of the house or the IBI in the next declaration.
Home purchase deduction
It is possible to deduct part of the mortgage loan for the purchase of the habitual residence, although there are requirements and exceptions. In the first place, only those who have contracted a mortgage for their habitual residence before January 1, 2013 can benefit from it. The only exception is that it had been paid for its construction before that date.
This is because this deduction was eliminated on January 1, 2012, so those people who formalize a mortgage later will not be able to access this deduction. Taxpayers may deduct up to 15% of what has been contributed throughout the year with a limit established at 9,040 euros, the maximum deduction being 1,356 euros.
The Tax Agency also allows products associated with the mortgage such as home insurance, early repayments, constitution expenses, etc. to be deducted.
If you work and have one or more children up to three years old and they go to daycare, you can deduct up to 1,000 euros. If you are entitled to the maternity deduction of 1,200 euros and you paid custody expenses in nurseries or early childhood education centers, the deduction will increase by a maximum amount of 1,000 more euros.
The mother’s income and daycare expenses will determine the final amount to be deducted. Among the deductible expenses in the so-called “nursery check” are school fees, dining room service and the costs derived from the reservation or pre-registration in the center.
Deduction for contribution to pension plans
If you are saving for your future retirement, with a pension plan, this is included in the Income as earned income.
A couple of years ago, the deductions for individual private pension plans were reduced to 2,000 euros as the maximum contribution, while the joint reduction limit (participant and company) was raised from 8,000 to 10,000 euros in company plans to boost contributions business and correct the “regressiveness” of these benefits, according to the Government.