For expenses on credit insurance premiums to cover non-payment of rent on housing leases (landlord deduction)

Regulations: Art. 15 quater Revised Text of the current legal provisions issued by the Autonomous Community of the Canary Islands on transferred taxes , approved by Legislative Decree 1/2009, of April 21.

Amount and maximum limit of the deduction

75 percent of the expenses paid by the taxpayer during the year in the form of credit insurance premiums that fully or partially cover the non-payment of rents to which the taxpayer is entitled by reason of the leasing of real estate, located in the Canary Islands, to a third party for housing purposes.
The maximum amount of this deduction will be 150 euros per year for both individual and joint taxation .

Requirements for applying the deduction

That the duration of the rental contract for housing with the same tenant is equal to or greater than one year .
That the deposit of the security referred to in article 36.1 of Law 29/1994, of November 24, on Urban Leases, has been constituted in favor of the competent body of the Administration of the Autonomous Community of the Canary Islands, within the period established for this purpose.
That the taxpayer declared in the PIT the income derived from leasing income from housing as returns on real estate capital.
That the landlord is up to date with his tax obligations and indicates them in his tax returns.PIT he NIF of the tenant and the cadastral reference number of the leased property.
That the monthly amount of the lease is not greater than 800 euros .

Note: Taxpayers entitled to the deduction must complete the section "Additional information on the regional deduction for expenses on credit insurance premiums to cover unpaid rent on housing leases (landlord deduction) in the Canary Islands" in Annex B.8 of the declaration.