For investment in primary residence

Regulations: Art. 14 Consolidated Text of the current legal provisions issued by the Autonomous Community of the Canary Islands regarding transferred taxes, approved by Legislative Decree 1/2009, of April 21

See also the first Additional Provision of Decree Law 12/2021, of September 30, which adopts tax, organizational and management measures as a result of the volcanic eruption on the island of La Palma ( BOC 01-10-2021 - BOE 25-11-2021)

La Palma volcanic eruption: of in accordance with the First Additional Provision of Legislative Decree 12/2021, the right to the deductions made in the autonomous integral quota of IRPF for the amounts paid for this concept will NOT be lost, despite the fact that the usual homes have been destroyed by the volcanic eruption of La Palma, being able to continue applying this deduction for the amounts that could continue to pay.

Maximum amount and basis of the deduction

Taxpayers may deduct the percentage that corresponds in each case , according to the following table, of the amounts paid in the tax period for the acquisition of the home that constitutes or will constitute their habitual residence, in the same terms and provided that the same requirements demanded in article 68.1 of the Personal Income Tax Law are met, as worded as of January 1, 2012.

The acquisition extends to the construction of the habitual residence, its rehabilitation and expansion in accordance with the provisions of its eighteenth transitional provision of the Tax Law.

Please note that, in accordance with Article 55 of the Income Tax Regulations, as amended as of 31 December 2012, the construction of a primary residence is considered be the case in which the taxpayer directly pays the costs arising from the execution of the works, or pays amounts on account to the promoter thereof, that the works completed within a period of no more than four years from the start of the investment, except in the exceptional cases provided for in sections 3 and 4 of the aforementioned Article 55, in which case an extension of said period may be granted, which in no case may exceed another four years.

Amount of the general tax base Percentage of deduction

Less than 25,500 euros 5 per 100

Equal to or greater than 25,500 euros and less than 45,500 euros 3.5 per 100

For the purposes of applying the above table, each taxpayer will take the sum of the amount of the general tax base and the savings tax base that appear in boxes [0435] and [0460] of their declaration under the individual tax regime.

The above percentages will be 5.5 per 100 and 4 per 100, respectively, if the taxpayer is under 40 years of age.
The maximum base of the deduction will be 6,000 euros per year per taxpayer.

The base of the deduction will be reduced by the amount of the aid granted by the Public Administrations in the tax period in question, which covers all or part of the expenses that give rise to the deduction, provided that such aid is considered as exempt income for the purposes of Personal Income Tax .

Amount of the general tax base	Percentage of deduction
Less than 25,500 euros	5 per 100
Equal to or greater than 25,500 euros and less than 45,500 euros	3.5 per 100

Conditions for the application of the deduction

The concept of habitual residence, as well as the maximum deduction base and the remaining requirements for the practice of the deduction are those contained in the state regulations of the deduction for investment in habitual residence in the wording in force as of December 31, 2012.

Joint deduction limit

The sum of the amount of this deduction together with the regional deductions "For amounts allocated by their owners to the restoration, rehabilitation or repair of real estate declared of Cultural Interest", "For energy rehabilitation works of the habitual residence" and "For works to adapt the habitual residence by people with disabilities" may not exceed 15% of the regional total quota, box [0546] of the declaration.