We inform you of the main deductions and developments after last year's tax reform, which implies, among other things, new deductions for families in the form of negative taxes, and the end of the general reduction of 2,652 euros for work income
The union of Technicians of the Ministry of Finance (Gestha) has presented this Wednesday a basic manual to inform of the main developments that we will find in the 2015 Income Tax Return after the last tax reform, a campaign that begins this April 6
Obligation to declare: from 22,000 euros
As long as the taxpayer's income comes from a single payer, or if it comes from several, the sum of the second and remaining ones does not exceed 1,500 euros, there is no declaration obligation.
Pension plans
Contributions to pension or insured pension plans allow the tax base of the income tax return to be reduced.
However, the tax reform has introduced two changes to take into account. Firstly, the limit amount that can be contributed has been reduced, going from 10,000 to 8,000 euros, as long as it does not exceed the 30% of income from work and economic activities, regardless of age.
The second novelty has to do with the rescue of the pension plan in the form of capital. The reform put an end to the reduction of the 40% by recovering the money in the form of capital, which was applied to income from contributions made before December 31, 2006.
The general reduction of 2,652 euros for work income is eliminated.
Another novelty in the 2015 Income is the elimination of the general reduction of 2,652 euros for obtaining income from work. As compensation, a new deductible expense of 2,000 euros is established for other expenses that may be increased by another 2,000 euros annually for unemployed people who find a new job that involves a change of residence in the year of change and the following year.
Disability deduction
Similarly, the amount that active disabled workers can deduct depending on the degree of disability increases to 3,500 euros and 7,750 euros (previously the reductions were 3,246 euros or 7,246 euros).
Deductions for purchasing and renting a home
Regarding the disappearance of the rental deduction, with the reform, tenants with contracts prior to January 1, 2015 can continue to deduct 10,05% from the amounts paid in 2015 and subsequent years as long as they maintain the rental contract for their home. usual, and provided that its tax base is less than 24,107.20 euros per year.
For landlords, there is now a single reduction of 60% for the net income declared for the rental of the home, thus disappearing the distinction of the reduction based on age that raised the reduction to 100% when the tenant was under 30 years of age.
For their part, taxpayers who bought their primary home or made a payment for its construction before January 1, 2013 maintain the right to the tax relief in 2015 and subsequent years, as long as they have deducted for said home in 2012 or in previous years. . In this case, up to 15% can be deducted from the amounts invested with a limit of 9,040 euros.
Also in terms of housing, the tax reform maintains the exemption for reinvestment in a habitual residence that avoids taxing on the capital gain from the sale of the taxpayer's previous habitual residence, as long as the total amount of the sale is reinvested in a new habitual residence. in the two years before or after the sale of the old home.
Those over 65 years of age are exempt from paying taxes on profits from the sale of assets if they are used for a life annuity.
Another novelty of the tax reform is that the profits obtained by those over 65 years of age from the sale of any type of property are exempt from taxation. However, this exemption will occur as long as the profits are used to create a insured annuity, with a limit of 240,000 euros and within a period of six months.
Deductions for donations
In this Income Campaign, improvements are also introduced to the deduction regime for donations to entities included in the scope of Law 49/2002 to stimulate their loyalty. Thus, the taxpayer will be able to deduct 50% from the first 150 euros donated to NGOs, foundations or any entity covered by said regulations and 27.5% from the rest of the contributions, a percentage that increases to 32.5% if the amount donated to the same NGO has not decreased in each of the last three years.
Likewise, the reduction for membership fees and contributions to political parties becomes this year a deduction from a 20% of said fees and contributions, always limited to a maximum base of 600 euros.
Finally, we recall the new deductions for families in the form of negative taxes (an amount is returned even if there are no withholdings), that is, deductions in the differential personal income tax quota in favor of workers, pensioners, unemployed or self-employed workers integrated into a large family, or with disabled ascendants or descendants in their care. These aids are 1,200 euros per year, prorated by months for each type, except in the case of special large families, which is 2,400 euros.
We know that no matter how much information we have, the process of making the declaration becomes something cumbersome that causes us to waste a lot of time. That is why we recommend that you contact our tax experts who will facilitate the procedures.
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