How much is paid to the Treasury for the sale of an apartment? — idealista/news

2023-12-10 12:00:03

If you are thinking of selling a property, you have surely wondered what it will cost for you and How much does the Treasury take for the sale of an apartment. And these types of operations are not free: it is likely that there will be a capital gain that you will have to reflect in your personal income tax return, in addition to facing certain taxes for which you will be responsible.

So that you clear up any doubts and can make numbers with maximum accuracy, we review the taxes paid on the sale of a home.

What taxes must be paid for the sale of a home?

Expenses for selling a property They are divided into different items (management, real estate, energy certificate, notary, registrar…) but, without a doubt, the main one is related to the taxes on the sale of a home.

In the case of the seller, there are three Associated taxes: personal income tax, municipal capital gains (when it exists) and IBI.

How much is paid to the Treasury for the sale of an apartment in personal income tax

The capital gain from the sale of a property must be reflected in your personal income tax, provided that there has actually been an increase in assets due to the sale of a home. It is also possible to sell at a loss, in which case you must also record the transaction in your income tax return, in the form of a capital loss from the sale of a property.

What rate applies to capital gains?

If you obtain a capital gain, it must be included in the tax base of the savings, paying taxes:

At 19% up to 6,000 eurosAt 21% for the section between 6,000 and 50,000 eurosAt 23% from 50,000 euros to 200,000At 27% from 200,000 to 300,000 eurosFrom 300,000 euros onwards, the applicable rate will be 28 %

If you obtain a capital loss, you can offset it with the capital gains corresponding to the same year, with certain limits, thus reducing your tax bill for this concept. If there is still a negative balance, you can offset it over the next four tax years.

How to calculate personal income tax for the sale of a home?

It is important to know how the capital gain from the sale of a property is calculated and to do so you must know the transfer value (subtracting all expenses and taxes paid with the sale), as well as the acquisition value (adding the expenses assumed at that time , including works and improvements).

The difference between transfer value and acquisition value will determine whether you have gained or lost money with the sale of your property.

From all of the above it follows that, in reference to When do you have to declare the sale of a property? In Income, the answer is that always and in any case, whether there is capital gain or if there is a loss or if the operation gives a neutral result.

How to avoid paying the Treasury for the sale of a home?

If you like avoid paying the Treasury for the sale of a home Regarding capital gains in personal income tax, these are some options you can explore:

Take advantage of the exemption reinvestment in habitual residenceTake advantage of the exemption in case of home sale for people over 65 years old. Keep in mind that it is not valid in the case of the sale of a second home for people over 65 years of age: it must be your primary home. This exemption also applies to people in a situation of severe dependency or great dependency. In both cases, you can apply it whether your habitual residence is transferred in exchange for capital, or if it is transferred in exchange for an income, temporary or for life. The delivery of housing as payment in payment It is also exempt, as is its transmission as a result of a judicial or notarial foreclosure for the cancellation of debts incurred on the habitual residence.

How much is paid to the Treasury for the sale of an apartment in the municipal capital gain?

In reality, this tribute does not go to the hands of the Treasury, but to your City Council. However, it is still a significant tax burden that you should be aware of.

The municipal capital gain taxes the increase in value that the property has experienced during the time in which it has belonged to you, so you will only have to pay it in those cases in which there has actually been an increase in value (unlike what happened before). .

How to calculate municipal capital gains?

For calculate municipal capital gains The cadastral value is taken into account, as well as the acquisition and sale price, when determining the tax base. You should also know the type established by the corresponding city council.

You will have a period of 30 business days to pay the municipal capital gain from the date of sale.

Calculate the municipal capital gain.

What is the IBI and who pays it when selling an apartment?

Regarding the Real Estate Tax, in reality, the regulations indicate that it must be paid to the owner of the property on the date the tax accrues, that is, on January 1 of each fiscal year, which corresponds to the calendar year.

However, it is common for a distribution of the payment to be agreed between the seller and the buyer, prorating its annual cost taking into account the date on which the sale takes place.