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Practical manual for Income Tax 2024. Volume 2. Autonomous community deductions
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Due to the increase in the costs of external financing for investment in primary housing derived from the rise in interest rates

Regulations: Articles 10 and 18.2 Text Consolidated legal provisions of the Community of Madrid regarding taxes ceded by the State, approved by Legislative Decree 1/2010, of October 21

Amount and maximum limit of the deduction

  • The amount of the deduction will be the result of applying the percentage of 25 percent on the excess corresponding to the interest paid in the tax period , according to the specific conditions of the mortgage loan, on the interest that would have been paid if the aforementioned conditions had been applied in that fiscal year the Euribor corresponding to the month of December 2022 .

  • The maximum limit of the deduction is 300 euros per year, both for individual and joint taxation.

Requirements for applying the deduction

  • That taxpayers pay sums in the form of interest arising from a mortgage loan taken out for the acquisition of the habitual residence.

    habitual residence will be considered to be that meets the definition and requirements established in Twenty-third Additional Provision of the Tax Law and its implementing regulations.

  • That the purchase price of the home , without considering the expenses and taxes inherent to the acquisition, is equal to or less than 390,000.00 euros.

  • That the mortgage loan has been arranged with a financial institution at variable interest rate and made before the start of the tax period .

  • That at the time of applying deduction the property continues to have the status of habitual residence .

  • That the sum of the general tax base and the savings of the taxpayer , together with that corresponding to the rest of the members of his family unit , sum of the boxes [0435] and [0460] of the declaration, does not exceed the amount in euros resulting from multiplying by 30,930 the number of members of said family unit .

Incompatibility

This deduction is incompatible with the application of the regional deduction "For the payment of interest on loans for the purchase of housing by young people under thirty years of age."

The incompatibility falls on each taxpayer , regardless of the taxation method chosen.