Do I have to include the help of buying a new car in the tax return?

by time news

S. M.

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The aid approved by the Government for the purchase of new vehicles or zero kilometers is undoubtedly a great incentive for the recovery of a sector that has registered a serious fall in recent months. But a large part of the buyers are unaware that these aids are not tax-free and therefore must be taken into account in the income statement. The amount for which we will pay taxes will be based on the withholding basebut for those people whose income is close to the limit of their withholding bracket, the aid can make them jump from step to step and have to apply a higher percentage in their declaration.

To get an idea, the average salary in Spain is €27,537 per year, although the most common is reduced to €17,482.

Taking these figures into account, and performing the calculations for an average of €19,809 per year of gross income for a family with two children, the aid for the purchase of a car could force us to have to pay up to €1,325 more in next year’s income statement, according to estimates made for ABC by experts from the Technicians Union of the Ministry of Finance (Gestha).

From this organization they explain that public aid is subject to income tax, unless the law that creates it expressly determines its exemption, even if it is implemented as a discount. In this case, obtaining the new public aid to a private person for the acquisition of a vehicle constitutes a capital gain, not derived from the transfer of a capital element, which is included in the general progressive tax base based on income and the personal and family situation of the taxpayer.

Discounts made directly by the manufacturer, dealer or point of sale of the purchased vehicle are considered commercial discounts and are not taxed for personal income tax. Of course, in no case would the treasury be paid an amount greater than the aid received, contrary to what some hoaxes claim.

As they explain from Gestha, without taking into account the regional scales (to simplify), if a liquidable base of 60,000 euros is exceeded, each additional euro that we receive will be taxed at 45%, without counting the bonuses or deductions that we can use. Although only 4% of taxpayers declare a base greater than €60,000, the effect on the progressivity in their general income of receiving or not receiving aid or any other income, is calculated at 45% of the additional amount of public aid or income, varying this amount more or less depending on the Autonomous Community of residence. Therefore, it is not possible that more taxes will be paid than the amount of the aid, although about half in the case of buyers with the highest incomes.

Despite the “bite” of the Treasury, the good news is that the Government has announced an aid program to rejuvenate the vehicle fleet, and has also approved a specific plan, Moves III, to encourage the acquisition of vehicles from Zero and very low emissions. The amount of the aid can reach 7,000 euros, taking into account the contribution made by the administration and the additional mandatory discounts by automotive brands or dealers. These discounts will also help many of the potential buyers to decide to take the step, but some details must be taken into account, the “small print” of the aid, to avoid having a scare with the income statement, in addition to Keep in mind that to access these grants you must meet a series of requirements.

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