Author: Mikemul

Deduction for housing in 2015 and 2016

Image result for housingBefore tackling this issue it is necessary to solve another that has to do with the concept of habitual residence since except in a few exceptions it will only be possible to deduct for the house that we inhabit and not for second or third residences. In order for the Treasury to consider a home, as usual, it must meet three requirements, which are the following:

  1. That is your residence for a continuous period of at least three years from your purchase
  2. That the taxpayer inhabits it effectively and permanently in a period not exceeding twelve months, counted from the date of acquisition or completion of the works.
  3. The annexes and parking spaces acquired jointly with the dwelling are assimilated to the habitual residence for purposes of the deduction.

Properties that meet these three conditions may access deductions for acquisition and rehabilitation of housing, construction or expansion and adaptation for reasons of disability, as well as deduct for rent. However, in this last point, the Treasury tends to ‘forget’ about the need to stay three years in housing, even if the legislation does not establish any clear exemption in this respect.

The deduction for the home purchase

The deduction for home purchase

The deduction for housing in 2015 and 2016 obliges us to differentiate between properties acquired before January 1, 2013, and those that were previously purchased.

Acquisition as of 2013

From January 1, 2013, the deduction for the acquisition of a habitual residence no longer applies in the Spanish territory. This means that those who buy your house now can not deduct in the income statement, as simple as dramatic.
There is an exception to this general rule and it is the one that applies to those who bought their house under construction and it did not finish building in 2012. These people will be able to deduct whenever the purchase-sale closed in 2012.

Acquisition before 2013

People who buy their house before January 1, 2013, can continue to deduct as they had done so far -or start doing it for purchases in 2012-.

According to Royal Decree-Law 20/2011, of December 30, urgent measures in budgetary, tax and financial matters for the correction of public deficit establishes the form in which the deduction for housing and the percentages can be applied. This deduction is available to anyone who has purchased a home before 2013, regardless of their level of income, provided that the use of the same is for their usual residence.
Those who meet these requirements can deduct 15% off the amounts contributed with a maximum limit of 9,040 euros, which translates into a maximum deduction of 1,356 euros. In this way, no matter how much we contribute 20,000 euros to the purchase of housing, we can only apply the deduction on the first 9,040 euros.

Note: Discover here the trick to save 20% of your salary without effort.

The amount on which to apply the 15% deduction is obtained from the sum of the amortized capital, the interest paid and the expenses derived from the financing -the mortgage-, such as life insurance linked to it and that the majority of banks obliges to contract along with the mortgage loan-


What if I change my house?

Those who buy a second home to make it habitual should keep in mind that if the acquisition takes place in 2013 they can not deduct for it. However, if the purchase was made in 2012, they will be able to do so, although in a different way to the first home. In this sense. You can not begin to apply the deduction for the habitual residence until the investment does not exceed the amounts invested in the previous home.

Let’s see it much better with an example: a person who has deducted 50,000 euros for several years for the purchase of an apartment can not deduct tax for the purchase of a home until he has invested more than 50,000 euros in the new one. This is the form that the Treasury has that does not deduct double for having changed your home.

If in addition the change of house is from a habitual residence to another habitual residence, it is possible to benefit from the exemption for reinvestment in habitual residence thanks to which, basically, it exempts from the payment of taxes for the sale of the dwelling provided that the amounts obtained are invested in the acquisition of a new habitual residence. Here you can find more information about it.

Rehabilitation of habitual residence

Image result for habitual residenceIn the case of housing rehabilitation, in 2013 there was a transitional period by which people who had made before January 1, 2013, still give rise to deduction as long as they finish before January 1, 2017, and that the taxpayer has been deducted in 2012 or in previous years.

In this sense, Royal Decree-Law 6/2010 of April 9 and Royal Decree 2066/2008, of December 12 as well as in the Personal Income Tax Law continue to establish the cases in which it is possible to deduct for the rehabilitation of housing.

At present, it can be deduced from any work that “aims to improve energy efficiency, hygiene, health, and environmental protection, the use of renewable energies, safety and sealing, and in particular the substitution of installations of electricity, water, gas or other supplies , or favor accessibility to the building or dwellings, in the terms provided for in Royal Decree 2066/2008, of December 12, which regulates the State Housing and Rehabilitation Plan 2009-2012, as well as for the installation works of telecommunication infrastructures carried out during this period that allow access to the Internet and digital television services in the taxpayer’s habitual residence ” .

Now the deductions that can be made for this concept are extended whenever the reform is carried out before 2012. The deduction will be 20% in all cases, but as with the habitual residence, the base is progressively reduced on which to practice it until it disappears in the 71,007.2 euros. The distribution is as follows:

  • If the tax base is equal to or less than € 53,007.20 per year, the limit is € 6,750 per year.
  • If the tax base is between 53,007.21 and 71,007.20, the limit will be the result of 6,750 – 0.2 x (Taxable Base – 33,007.20).

The deduction can be practiced for a period of four years at the rate of the aforementioned 6,750 euros per year, which means that the maximum amount to be deducted is 20,000 euros.

Rental housing

Rental housing

Renting the habitual residence is another element that allows deducting who rent and the landlord. In the case of the tenant, who is who lives in the house, the deductions are similar to those of the purchase of the house, but since 2015 there are restrictions on who can and can not deduct for the rent you pay.

Rentals before and after 2015

If in the case of the purchase of housing the year 2013 marks the cut between when it can and can not be deducted, with the rebate for the lease of habitual residence the point of reference is 2015. Those who rent their house before 2015 may continue to deduct as long as they comply with the rest of the requirements – we’ll let you know what they are next -.
However, subsequent rents no longer deduct. If you have changed your home in 2015, you will not be able to deduct for renting the new home.

How it works when renting a home

The deduction for rent of housing in the case of the tenant is divided into a state and another autonomous section. This means that there is a deduction applied throughout the national territory and another that depends on each Autonomous Community. The deduction of the state tranche maintains the same rates as the deduction for housing, only that the percentage to be deducted is 10% on the amounts contributed. In the regional deduction, there are more differences and regions that apply it to others that do not. To know them you only have to look for our post titled: Deduction for rent of habitual residence: the tenant.
In the case of the landlord or who puts the house for rent, the first thing you should know is that the rent is exempt from paying the VAT provided that the house is used for a regular residence. And for income tax purposes, you can deduct the costs derived from renting the house, such as interest on the mortgage, state taxes, administration or conservation expenses, among others, that will be subtracted from the benefit obtained from the rent. Additionally, they can apply a reduction of 100% on the income obtained when it is rented to those under 30 who meet certain economic conditions. Otherwise, the reduction will be only 60%. And if you rent a company or a freelance for commercial premises or office directly you can not apply any type of reduction.

These are the usual issues although afterward there are many specific cases that can generate doubts. Many of them have already been treated in the comments of this post, but we are always open to answering more questions in this thread.

Financial education Liberbank EUROPA PRESS


Financial education Liberbank <span class="author">EUROPA PRESS</span>

Financial education is according to Liberbank a necessary tool that can help us better manage our economic resources in different stages of life. In childhood we can start with simple concepts such as the value of money, what it is for, where the tickets come from and the importance of saving.

Later, in adolescence, he helps us to be a citizen

more responsible, to know the effort that must be done to obtain these resources and, at maturity, financial education allows people to plan in the best possible way their decisions in the financial environment.

In general, a good financial education helps us to better understand the importance of knowing how to manage, to save, to have a mattress for contingencies, to make a correct management of current expenses and also to make investments with caution and with the necessary knowledge. It will help us to be financially healthy, contributing to our life security and tranquility. It is not healthier, financially speaking, who has more, but who knows how to manage better and for this a golden rule is not to spend more than what is entered.

In these dates of the beginning of the course you can hear how expensive it is to return to the routine and face the rigorous purchases, which are many. Now, in what months of the year is it more difficult for us to maintain a balance in our accounts? or in other words, would there really be hills if we had been foresighted?

The answer to these questions is in the family budget. If we are able to make each one ours, and fulfill it, we can have a balance in our accounts throughout the year and goodbye to the slopes.



There are many tools that the entity advise to use to make this budget but either with pencil and paper, with a spreadsheet or with applications that are on the Internet offered free by institutions and financial institutions, you just have to decide for the one that works best for you. comfortable and take into account some important details to make it really useful and work: you have to consider the time horizon that can be, for example, a year, make periodic reviews to see if it is being fulfilled and above all, do it without cheating, because When you are going to draw up a budget you have to be realistic and honest with yourself and not hide any expense.

It is also interesting that at the time of elaboration we imply all the members of the family, so that they know what the expenses are and inform us of what the others may have. It is about involving everyone to be able to fulfill the proposed objective.

With these premises, we begin by noting every month our income and all the expected expenses, the estimated receipts, the approximate purchase and others that are fixed and known, such as loan installments, some taxes, insurance, and so on. It is also considered essential to allocate something to save, as if it were a fixed expense, since it may be essential in the future to face an unforeseen event or make us a good gift.

Now, if once it is done you see in practice that you have to adjust it and rethink some items because the total expense is excessive, before considering, for example, increasing indebtedness, a good advice would be to cut superfluous expenses and try to reduce others such as light, water, gas, gasoline, etc., in which there is some margin if it is done with care, according to the entity.

It is never too late and this is a good date to start the course with a good footing making a budget true to your economy and your life now that you know the importance of financial education to better face the challenges that arise in our day to day.


Debt Consolidation Loans Offering Hope

When you are in need of immediate cash then, you can turn to faxless bad credit payday loans.

Lots of people face problems before their own next payday. These funds can be a great help to a person at such times. You might use these advances to repay your health checkups, electricity bills, plus educational fees and so on.

bad credit loans — In the mortgage industry, lenders often refer to a borrower’s “paper. ” This papers refers to people with less than great credit. “B” paper describes relatively small problems, whilst “D” paper refers to larger issues such as bankruptcy filings. The worse your document, the more you can expect to pay within interest, points and deposit amounts. You need to carefully evaluate if paying these extra fines makes financial sense.

However, there is great news. There is a type of loan that may provide cash via in this situation even though you have bad credit. Is actually called a bad credit loans guaranteed approval personal.

Because the rates of interest are high on these financial loans you should try to pay them back again quickly so that you don’t have to pay out to much interest for that loan. Due to the fact that this is recognized as a high-risk unsecured mortgage the interest can be extremely high so you need to take that into consideration, therefore, you don’t get into financial difficulty. It would be much better if you can keep cash on hand to deal with these types of emergencies.

Exactly what often happens is your maximum out your bad credit payday loan cards in the blink of an eye and you also then come to an impolite awakening: the minimum quantity due can balloon into an off-the-wall debt along with sky-high interest rates.

You should not have to experience any paperwork.

No need to send the documents via fax. Eligibility circumstances are simple for payday loans intended for bad credit, online payday loans. You may use the online application form to email the details. It may comprise legitimate citizenship, monthly earnings plus bank account details. Click on the send button and wait for the particular immediate arrival of the cash.

Payday cash advance lenders are readily available and you may get a loan and get your cash immediately if you are in a loan companies office or usually exactly the same day or overnight in case you apply online.

Now that might do some research simply by reading this information, you can think about your research on Fast poor credit loan providers as being finished. Now it’s time to get that quick bad credit loan to assist resolve your current financial worries.

May Merchant Cash Advances Be The Way Forward For Business Capital?

Runescape players complain that they will in no way be able to make money because of the intro of trade limits, which usually limit the amount of cash you can gain in Runescape in the trade. I have seen a lot of players do so and in their particular anger, they became sightless to the fact that Jagex had currently solved the problem by the intro of The Grand Exchange, an attribute that changed the game as well as the way it is played.

Example: Allowing the 10% profit (just being an example), a person merchants making use of 10million gold and will not add his earnings towards the merchant capital. He will achieve twenty million gold in week. But if he adds their profits to the merchant he can produce 20 million precious metal in just 6 days once in cases like this, it was 40% more efficient to include profit to merchant funds.

Another advantage that the bank loan has is the period allowed to pay it back. Although not most business owners think of this as a benefit; spreading your payments over the course of a couple of years makes the monthly fee much less.

Choose your mortgage lender many weeks in advance to the actual home obtain. Getting a home is a scary point. If you have any sort of queries pertaining to where and how you may use site, sneak a look at this web-site,, you could give us a call at the web page more short term than long term loans. There are tons associated with shifting sections. If you know that your mortgage lender will be, gowns one a lot less point to be worried about as soon as you’ve located the home of your dreams.

Once the above conditions are fulfilled, fill the online form. Your application will then be sent installment loans for approval and once sanctioned the money will be transferred to your account within hours also longer terms available here. You need to pay back the amount to the lender when you receive your paycheck. You get 2-4 weeks to pay back the amount borrowed

Imagine if you did have access to fast working capital that you could invest within your business? How would you spend the idea? Your business is unique, only you really know what would work best for your business. I know that if you spend some time thinking about it you may realise of quite a few good ideas that may make your business grow.

There are many benefits of using the merchant cash group. The most crucial aspect is that it can provide you with a vast sum of money even if you do not have high credit. The loan is just not similar to other traditional financial loans where you will not be able to have one if you have problems with your credit score. Another convenience is that you can undoubtedly repay the amount as and when a person makes a sale using your charge card. There are some drawbacks of by using this loan as well. The interest price could be higher than the traditional financial loans. The total amount you pay could be more.

So why was it this kind of sound decision for Martin to take out his first merchant advance companies, and why the second and even third? Wouldn’t it are better to improve the business after which pay for these expansions from the pocket? The answer is that David saw an opportunity when it seemed to be presented to him. Their business was doing well, and also a small boost would support tip the scales to some successful business. From then on initial impetus, he noticed that the opportunity to expand was vital to his business’s excellent results and growth. Instead of longing for the funds to be obtainable, he could take out another improve and be on his way to generating more money faster than before.

An additional problem that can be a hole with women organization starters is their spotty credit record. Some people believe that girls are the weaker group with regards to finances, most especially if these kinds of are shopaholics. Most of the reasons will be because of bad spending routines that would go to things that are probably not needed. These include more expenses that are made because of an abrupt impulse buy. With spotty credit, it is hard to have a loan. Cash lending companies usually will not give business capitals to the people who have wrong FICO lots. With this, you are now inlayed with a dilemma of how you can start your business.

Little retailers and businesses helping you to obtain the small business loans regarding bad credit they need. Over are some of the three major options that you will see inside your research. If you are need associated with working capital quickly, and wish to receive rate a cost-effective company loan, you should check out the CCRF loan. Otherwise, when the bank has turned a person down and you have a lot of time to search, a business loan broker might be your best option.