2. Analysis of Income Tax Deductions in Castilla La Mancha Anyone who is going to be dealing with property in Castilla La Mancha – be it to buy or rent – will be interested to know that certain tax breaks are available subject to the various qualification criteria as well as tax paid in the region.
3. As is the case in general with regard to taxation matters, there is quite a wide variation in the tax breaks available, with each autonomous community applying those deductions considered to be reasonable and beneficial according to the regional government. Analysis of Income Tax Deductions in Castilla La Mancha cntd...
4. The regional level exemptions available in the Castilla La Mancha were enacted by the parliament in Toledo with the most important provision contained in Ley 9/2008 The deduction relates to investment in the principal private residence as follows: Analysis of Income Tax Deductions in Castilla La Mancha cntd...
5. 1% of the amount invested in acquiring the main family home may be deducted from income tax of that same fiscal year. 1% of the amount invested in refurbishing a family home to make it suitable for use by the disabled may be deducted similarly. Analysis of Income Tax Deductions in Castilla La Mancha cntd...
6. The deduction is subject to the following criteria being fulfilled: 1) The purchase of the property must be carried-out using a mortgage obtained from a financial institution in the list referred to in Article 2 Ley 2/1981 (Regulation of the Mortgage Market) Analysis of Income Tax Deductions in Castilla La Mancha cntd...
7. In the case of refurbishing a home to make it suitable for the disabled, a loan from any financial institution on the same list is acceptable. 2) The income tax declaration for claiming the deduction should contain the reference number of the loan/mortgage contract. Analysis of Income Tax Deductions in Castilla La Mancha cntd...
8. 3) The net income of the taxpayer must not exceed €50,000 Analysis of Income Tax Deductions in Castilla La Mancha cntd...
9. This 1% deduction may be added to the state deduction available, but now restricted. The rules relating to the state deduction for investment in the main family home are: Analysis of Income Tax Deductions in Castilla La Mancha cntd...
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12. Simply put, property transactions in Spain are unique to this country with legal assumptions made here that just don't exist elsewhere Pitfalls Dealing with Property in Spain
13. If you would be interested in a free and comprehensive guide that will help you to avoid the typical pitfalls the foreign buyers of property fall into as well as dealing with issues such as... Guide to Dealing with Property in Spain
14. To find out how to deal with such issues as... Which legal checks on a property are vital to avoid any problems The step-by-step process of buying a property in Spain
15. As well as... Typical ploys to watch out for to avoid being defrauded. Property taxes you pay and those you don't!
16. And much more... Download the myAdvocate Spain guide to Dealing with Property in Spain by clicking on: Secrets to Dealing with Property in Spain
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18. More information and contact details: www.myadvocatespain.com [email_address] Tel. +34 931 845 073