2023-04-22 00:23:34
Saturday, April 22, 2023, 00:23
When making the Income statement (or reviewing the draft that the Treasury sends us) it is common to have doubts in those aspects in which the foral regulation differs from what is established by the State Tax Agency. This is, for example, the case of deductions for home insurance, possible in some circumstances in the communities of the common tax system.
In Bizkaia, however, the premiums paid for this type of policy do not deduct. Not even when its contracting is linked to that of the mortgage of the habitual residence. In order for the insurance of a property to provide us with tax savings, it is necessary, on the one hand, that it is not a home and, on the other, that we have it rented. In this case, the insurance is considered as a real estate capital return expense.
On the other hand, within the expenses derived from the use of external financing that give the right to a deduction for the acquisition of habitual residence yes, life insurance enters financial institutions sometimes include within the conditions for granting the loan. Unlike what happens in the common tax regime (where this advantage can only be accessed by those who bought their home before January 1, 2013), in Bizkaia tax relief is possible while the credit is outstanding regardless of when it was signed.
The premiums in this case have the same tax treatment as the interest on the loan, so as a general rule the taxpayer may apply a reduction of 18%, taking into account that the maximum annual deduction for all items linked to the acquisition of the habitual residence is 1,530 euros (1,955 for those under 30 without a housing account or large families).
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