3.2. Calculation of the value of all transfers made from 1 January 2015 for the limit of 400,000 euros
The transfer value of all assets to which this regime would have been applicable to their capital gains, transferred from 1 January 2015 until the date of transfer of the asset (not including the value of the latter), is calculated.
Once calculated, the following situations must be taken into account:
A. Transmission value greater than 400,000
If this value is greater than 400,000 euros, no reduction will be made in the profit derived from the transfer of the property, even if part of the capital gain was generated before 20 January 2006.
Keep in mind:
In order to determine whether or not the 400,000 euros are reached, the transfer values corresponding to, among others, capital gains arising from the transfer of the following assets not affected by economic activities will not be taken into consideration:
- The transfer values corresponding to acquisitions made after December 30, 1994, since the abatement coefficients are not applicable.
- The transfer values corresponding to transfers that have given rise to a capital gain not subject to tax under the provisions of article 33 of the Personal Income Tax Law or that are exempt from it or in the case of partial exemption due to reinvestment, only the transfer value that was subject to reinvestment will be excluded.
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The transfer values corresponding to transfers of shares or interests listed on official markets acquired before December 31, 1994 when their acquisition value is higher than the value for the purposes of the 2005 Wealth Tax, given that in that case the abatement coefficients would not apply .
B. Transmission value less than 400,000
If the transfer value referred to in the previous section is less than 400,000 euros, said value and the transfer value of the asset will be added together, differentiating between the following situations based on the result:
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That the sum is less than 400,000 euros
In this case, the part of the capital gain generated before January 20, 2006 will be reduced by the amount resulting from applying the percentages indicated in number 4 below, for each year of permanence in the taxpayer's assets from its acquisition until December 31, 1996 that exceeds two.
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That the sum is greater than 400,000 euros
In this case, the reduction will be applied to the part of the capital gain generated before January 20, 2006 that proportionally corresponds to the part of the transfer value of the asset that, added to the amount of number 2 above, does not exceed 400,000 euros.
Important: If during the year there were transfers to which the ninth transitional provision of the Personal Income Tax Law is applicable, the additional data requested in section F2 of the declaration must be completed, indicating the transfer value of all assets to which this regime would have been applicable, transferred from 1 January 2015 until the date of transfer of the asset (not including the value of the latter).
Summary table
In short:
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Being: VT1: Accumulated transfer value corresponding to all assets to whose capital gain this regime would have been applied, transferred from 01-01-2015 until the date of transfer of the asset to whose gain the DT is to be applied 9 Law of Income Tax . VT2: Transfer value of the asset for which the gain is calculated. |
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Note: The limit of 400,000 euros does not apply to the transfer value of each asset, but to the set of transfer values of all assets to which the reduction coefficients have been applied from 1 January 2015 until the time of the temporary imputation of the capital gain. That is, it is a joint limit for all assets, regardless of whether the transfer of each of them occurs at different times. |
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| Situations | Application of drawdown coefficients |
|---|---|
| VT1 > 400,000 | No reduction will be made. |
| (VT1 + VT2) < 400,000 | The corresponding reduction percentages will be applied to the total amount of the capital gain generated prior to January 20, 2006 corresponding to the asset being transferred. |
| VT1 + VT2 > 400,000 and, VT1 < 400,000 | The corresponding reduction percentages will be applied to the amount of capital gain generated before January 20, 2006 that proportionally corresponds to the difference between 400,000 and (VT1 + VT2). |
Clarifications:
- The limit of 400,000 euros is individual, so it is computed for each taxpayer by the part of the transfer value that corresponds to them of the elements transferred from 1 January 2015, depending on whether the element is owned privately or jointly.
- The taxpayer may apply the ninth transitional provision to capital gains derived from transfers that he considers appropriate and in the order he deems appropriate. However, once the taxpayer decides to apply the ninth transitional provision on the capital gain derived from the transfer of an asset, he/she must apply it to the maximum possible amount taking into account the aforementioned limit of 400,000 euros, without, therefore, the possibility of applying it exclusively to the part of the transfer value of the asset that the taxpayer determines. That is, partial applications are not possible in each transmission considered individually.
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The application of the ninth transitional provision must be carried out independently for each of the transfers carried out during the year.
Therefore, in the event that different transfers of shares or interests that are considered homogeneous securities occur during the tax period, it must be determined whether the provisions of the aforementioned transitional provision could be applied to each of the transfers.