3.5. Exempt goods and rights

1. The following assets and rights are exempt from Wealth Tax:

   • The habitual residence up to 300,000 euros

     The taxpayer's habitual residence, as defined in article 68.1.3 of the Personal Income Tax Law, up to a maximum amount of 300,000 euros.

     The building that constitutes the taxpayer's residence for a continuous period of at least three years is considered a habitual residence.

     However, it will be understood that the home was considered habitual when, despite the said period not having elapsed, the death of the taxpayer occurs or other circumstances arise that necessarily require the change of address, such as celebration of marriage, marital separation. , job transfer, obtaining the first job, or change of job, or other justified analogues.

   • Spanish Historical Heritage Assets

     The assets that make up the Spanish Historical Heritage, registered in the General Registry of Assets of Cultural Interest or in the General Inventory of Movable Property, as well as those included in the second Additional Provision of Law 16/1985, of June 25, on Heritage Historical Spanish, provided that in the latter case they have been classified as Assets of Cultural Interest by the Ministry of Culture and registered in the corresponding Registry.

     In the case of Archaeological Zones and Historical Sites or Complexes, the exemption will not extend to any type of real estate located within the delimitation perimeter, but exclusively to the following:

     • In Archaeological Zones: Real estate property included as an object of special protection in the urban planning instrument referred to in article 20 of Law 16/1985, of June 25, on Spanish Historical Heritage (BOE of June 29).

     • In Historical Sites or Complexes: Real estate that is equal to or greater than fifty years old and is included in the Catalog provided for in article 86 of the Urban Planning Regulations as an object of comprehensive protection in the terms provided for in article 21 of Law 16/1985, of June 25, of the Spanish Historical Heritage.

   • Historical Heritage of the Autonomous Communities

     The assets that make up the Historical Heritage of the Autonomous Communities, which have been qualified and registered in accordance with the provisions of their regulatory standards.

   • Certain art objects and antiquities.

     Objects of art and antiques are exempt in the following cases:

     • When its value is less than:

       • 90,151.82 euros in the case of pictorial and sculptural works less than one hundred years old.

       • 60,101.21 euros in the case of pictorial works that are one hundred or more years old.

       • 60,101.21 euros in the case of collections or sets of cultural artistic objects and antiques.

       • 42,070.85 euros in the case of sculptural works, reliefs and bas-reliefs that are one hundred or more years old.

       • 42,070.85 euros in the cases of collections of drawings, engravings, books, documents and musical instruments.

       • 42,070.85 euros when it comes to furniture.

       • 30,050.61 euros in the cases of carpets, tapestries and historical fabrics.

       • 18,030.36 euros in the case of drawings, engravings, printed or manuscript books and unitary documents on any medium.

       • 9,015.18 euros in cases of unitary musical instruments of a historical nature.

       • 9,015.18 euros in cases of antique ceramics, porcelain and glass.

       • 6,010.12 euros in the case of archaeological objects.

     • When they have been transferred by their owners in permanent deposit for a period of no less than three years to Museums or non-profit cultural institutions, for public exhibition, while they are deposited.

     • The artists' own work while it remains in the author's estate.

     For these purposes, art objects are understood to be: paintings, sculptures, drawings, engravings, lithographs or other analogues, provided that, in all cases, they are original works.

     Antiquities means: movable, useful or ornamental property, excluding objects of art, that are more than one hundred years old and whose fundamental original characteristics have not been altered by modifications or repairs carried out during the last one hundred years.

   • The domestic trousseau

     Domestic trousseau is understood to mean personal and household effects, household utensils and other movable property for private use of the taxable person, except jewelry, luxury furs, automobiles, two- or three-wheeled vehicles with a cylinder capacity equal to or greater than 125 centimeters. cubic vessels, pleasure or water sports boats, aircraft and objects of art and antiques.

   • The economic content rights in the following instruments

     • The consolidated rights of the participants and the economic rights of the beneficiaries in a pension plan.

     • The rights of economic content that correspond to premiums paid to the insured pension plans.

     • The rights of economic content that correspond to contributions made by the taxpayer to the corporate social security plans.

     • The rights of economic content derived from the premiums paid by the taxpayer or by employers to group insurance contracts.

     • The rights of economic content that correspond to the premiums paid to private insurance that covers dependency.

   • Intellectual and Industrial Property

     The rights derived from intellectual or industrial property, while they remain in the author's estate, and in the case of industrial property, are not affected by business activities.

   • Securities belonging to non-residents whose income is exempt

     Securities belonging to non-residents whose income is exempt pursuant to the provisions of article 14 of the consolidated text of the Non-Resident Income Tax.

   • Assets and rights affected by economic activities

     The assets and rights of natural persons necessary for the development of their business or professional activity, provided that this is exercised in a habitual, personal and direct manner by the taxpayer and constitutes their main source of income, meeting the requirements indicated in the section “D. Exempt goods and rights related to economic activities.

     Subject to the same requirements, property and rights common to both members of the marriage will also be exempt when used in the development of the business or professional activity of either spouse.

   • Participations in entities

     Participations in entities, with or without listing on organized markets, provided that the conditions of the Wealth Tax are met.

2. Regional exemptions

   • Taxpayers residing in the Community of Castilla y León

     Taxpayers with disabilities who have had their habitual residence in the Community of Castilla y León will also not have to declare the assets and rights of economic content that are part of the taxpayer's specially protected assets, established under Law 41/2003, of property protection of people with disabilities and modification of the Civil Code, the Civil Procedure Law and tax regulations for this purpose.

   • Taxpayers residing in the Autonomous Community of the Canary Islands

     The goods and rights of economic content computed for the determination of the tax base that form part of the taxpayer's specially protected assets, established under Law 41/2003, on the property protection of people with disabilities and modification of the Civil Code, the Civil Procedure Law and the tax regulations for this purpose.