The new Housing law will bring tax benefits for owners who rent their home to young people, who reduce rents in the review of contracts or who have rehabilitated it, as stated in the text approved this Thursday.
The law includes tax incentives to be applied to the positive net income from renting. With this, the idea is to “stimulate the rental of habitual residence at affordable prices”, allowing almost all rental income to be excluded from taxation in certain cases.
The scheme is based on the current 60% reduction in the net income from housing rentals, which will be reduced to 50% in new contracts.
In exchange for the lower margin, it will rise to 90% if a new contract is signed in a stressed market area with a price reduction of at least 5% over the previous contract. The 5% reduction is once the annual update clause of the previous contract has been applied.
The reduction will reach 70% when they are homes that enter the market for the first time in a stressed area and are rented to young people between 18 and 35 years of age. “When there are several tenants of the same home, this reduction will be applied to the part of the net yield that proportionally corresponds to the tenants who meet the requirements set forth in this letter,” it is noted.
70% is applied in the same way if they are incentivized or protected affordable housing, leased to the public administration, entities of the third sector, of the non-profit social economy or that is covered by a public housing program that limits the income of the lease.
Finally, the reduction will be 60% when rehabilitation works have been carried out in the two previous years and the aforementioned conditions are not met.
In any other case the reduction will be 50% general.
The requirements that give the right to the reductions must be given when signing the contract and may be applied as long as they are met.
In the fiscal field there is another novelty. In the third final provision, surcharges are raised in the liquid IBI quota from 50% to 150% for permanently unoccupied residential properties. It will be applied to homes that have been vacant for more than two years and if the owner has more than four homes. The percentage of surcharge will depend on the duration of the vacancy and the number of unoccupied homes of the same owner in the municipality. All “with the aim of having a greater effect on optimizing the use of the residential building stock” and that the Town Halls have more fiscal tools to deal with unemployment.
There are “justified causes of temporary unemployment” that can justify not charging the surcharge, such as temporary transfers for work or training reasons or for dependency or health situations, among others.
