Skip to main content
2018 Wealth Tax

3.4. Exempt goods and rights

The following assets and rights are exempt from Wealth Tax:

A) The main residence up to 300,000 euros

The taxpayer's main residence, as defined in article 68,1 of the Personal Income Tax Act, up to a maximum amount of 300,000 euros.

A building that constitutes the taxpayer's residence is considered a habitual residence for at least three years.

However, it will be understood that the property was of a normal nature when, despite not having elapsed, the death of the taxpayer or other circumstances that necessarily require change of address, such as marriage, marriage separation, employment transfer, employment, or change of employment, or other justified equivalents.

B) Goods belonging to the Spanish Historical Heritage

The assets belonging to the Spanish Historical Heritage, registered in the General Register of Cultural Interest Goods or in the General Inventory of Furniture Goods, as well as those included in the second additional provision of Act 16/1985, of 25 June, on Spanish Historical Heritage, provided that in the latter case, they have been classified as Cultural Property by the Ministry of Culture and registered in the corresponding Register.

In the case of Historic Archaeological Zones and Sites or Conjoints, the exemption will not reach any kind of real estate located within the scope of delimitation, but exclusively to the following:

  • In Archaeological Areas: Real estate included as a special object of protection in the urban planning instrument referred to in article 20 of Act 16/1985 of 25 June on Spanish Historical Heritage (Official State Gazette of 29 June).
  • On Historic sites or complexes: Real estate that is at least fifty years old and are included in the Catalogue provided for in Article 86 of the urban Planning as an integral object of protection under the terms set out in article 21 of Act 16/1985 of 25 June on Spanish Historical Heritage.

C) Historic Assets of the Autonomous Communities

The assets that comprise the Historic Heritage of the Autonomous Communities, which have been classified and registered in accordance with the provisions of their regulatory standards.

D) Certain objects of art and antiques

Art and antiquities are exempt in the following cases:

  1. When its value is lower than the amounts established for the purposes of Article 26,4 of Act 16/1985 of 25 June on Spanish Historical Heritage.
  2. When they have been transferred by their owners to permanent storage for a period not less than three years to non-profit museums or cultural institutions, for public display, while they are deposited.
  3. The work of the artists while they remain in the author's assets.

For these purposes, objects of art are understood as: Paintings, sculptures, drawings, prints, lithographies or other similar, provided that, in all cases, they are original works.

Antiquities are understood as: Movable, useful or ornamental property, excluding objects of art, which are more than one hundred years old and whose basic original characteristics have not been altered by modifications or repairs made during the last years.

E) The domestic Ajuar

Domestic labour is understood as personal and household effects, household utensils and other movable property for the private use of the taxable person, except jewellery, suntuary-skin, cars, two-wheeled vehicles with an engine capacity of 125 cubic centimeters or more, recreational or boat sports, aircraft and art and antiques.

F) The rights of economic content in the following instruments

  1. The vested rights of the participants and the financial rights of the beneficiaries in a pension plan.
  2. The economic content rights corresponding to premiums paid to the guaranteed benefit plans.
  3. The economic content rights corresponding to contributions made by the taxpayer to the company pension plans.
  4. The economic content rights derived from premiums paid by the taxpayer or by the business owners to collective insurance contracts.
  5. The economic content rights corresponding to premiums paid to private insurance policies that cover the dependency.

G) Intellectual and Industrial Property

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

H) Securities belonging to non-residents whose yields are exempt

Securities belonging to non-residents whose returns are exempt under article 14 of the consolidated text of the Income Tax for Non-Residents.

I) Goods and rights relating to economic activities

The assets and rights of the natural persons necessary for the performance of their business or professional activity, provided that this is carried out on a regular basis, personally and directly by the taxpayer and constitutes their main source of income, complying with the requirements indicated in section "D. Exempt assets and rights relating to economic activities.

Subject to the same requirements, the assets and rights common to both members of the marriage will also be exempt when they are used in the performance of the business or professional activity of any of the spouses.

J) Investments in entities

Investments in entities, with or without contributions in organised markets, provided that the conditions of Wealth Tax are met.

Subject STEPS WITH DISABLED RESIDENTS IN THE COMMUNITY OF CASTILLA AND LEÓN.

Persons with disabled liabilities who have had their habitual residence in the Community of Castile and León in 2017 will not have to declare the assets and rights of economic content that forms part of the taxpayer's particularly protected assets, established under Act 41/2003, on the protection of the assets of persons with disabilities and modification of the Civil Code, the Civil Procedure Act and the tax regulations for this purpose.

Taxpayers WITH DISABLED RESIDENTS IN THE AUTÓNOMNOMA COMMUNITY OF CANARY ISLANDS.

The assets and rights of economic content calculated for determining the gross tax base that form part of the assets in particular will be exempt from this tax protected by the taxpayer, established under Act 41/2003, on the protection of the assets of persons with disabilities and the modification of the Civil Code , the Civil Procedure Act and the tax regulations for this purpose.

Art. 4,3 of Act 19/91)

Objects of art and antiques whose value is lower than the amounts established in article 26 of the Royal Decree are exempt from Wealth Tax Decree 111/1986 of 10 January approving the Regulations of the Spanish Historical Heritage Act (as amended by Royal Decree 64/1994 of 21 January).

The amounts referred to in this article are as follows:

  • 90,151.82 Euros in the case of paintings and sculptures less than one hundred years old.
  • 60,101.21 Euros in the case of paintings with one hundred or more years'experience.
  • 60,101.21 Euros in the case of collections or sets of cultural and antique objects.
  • 42,070.85 Euros in the case of sculptural works, reliefs and reliefs with one or more years'experience.
  • 42,070.85 Euros in the case of collections of drawings, prints, books, documents and musical instruments.
  • 42,070.85 Euros in the case of furniture.
  • 30,050.61 Euros in the case of carpets, tapestries and historic fabrics.
  • 18,030.36 Euros in the case of drawings, prints, printed books or manuscripts and unit documents on any medium.
  • 9,015.18 Euros in the case of historic unit musical instruments.
  • 9,015.18 Euros in the case of ceramics, porcelain and old glass.
  • 6,010.12 Euros for archaeological objects.