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Practical Guide to Income Tax 2025. Part 2. Autonomous community deductions

For leasing of habitual residence linked to certain transactions of payment in kind

Regulations: Art. 15 bis Consolidated 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

  • 25 percent of the amounts paid during the corresponding fiscal year, for the rental of the habitual residence.

  • He maximum amount of the deduction will be 1,200 euros per year per taxpayer.

In case of joint taxation Each taxpayer will apply their individual limit and the corresponding deductions for each of them will be added together.

Requirements and other conditions for the application of the deduction

  • The deduction will only be applicable in the case of the transfer of the habitual residence by its owner in favor of the creditor financial institution, or a real estate subsidiary of its group, because he or she cannot meet the payment of the loans or mortgage credits granted for its acquisition, provided that the transferor continues to occupy the residence through a lease contract with an option to purchase signed with the financial institution.

    See in this regard the cases of leasing linked to certain transactions of payment in kind contemplated in article 35-bis of the Revised Text of the legal provisions in force issued by the Autonomous Community of the Canary Islands on transferred taxes, approved by Legislative Decree 1/2009.

  • That the sum of the general tax base and the savings tax base, boxes [0435] and [0460] of the declaration corresponding to the year in which the right to the deduction originates, is not greater than :

    • - 46,455 euros annuals in individual taxation.

    • - 61,770 euros annuals in joint taxation.

  • The base from the deduction will diminish in the amount of the aids granted by Public Administrations in the tax period in question, which cover all or part of the expenses that give rise to the deduction, provided that such aid is considered exempt income for the purposes of PIT.

Note: Once the information necessary for its calculation has been entered by the taxpayers entitled to the deduction, it will be automatically transferred to the section "Additional information to the regional deduction for the rental of the main residence linked to certain dation in payment operations of Aragon, Canary Islands and Castilla La Mancha" of Annex B.12 of the declaration.