The first home, the obligation to sell is activated to maintain tax credits

After nearly two years of suspension, the countdown is running again. Those who purchased a property directly before the outbreak of the epidemic using concessions first houseBut he did so by pledging to sell another property within a year in which he had previously obtained the same thing PrivilegesThis commitment has been suspended in the past two years. The rationale is simple: buying and selling homes during the pandemic hasn’t been easy. From January 1, as we said, the countdown began exactly where it left off.

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Residence

what does that mean? For example, if six months have passed since the purchase of the new home in March 2020, starting from January 1, 2022, the remaining six months will begin to sell the other property, in which it was acquired. The past… the same concessions. However, the obligation to sell if you buy a new home with liens isn’t the only term related to the first home that starts rolling in again this month. There are two other types. The first relates to the obligation to bring housing to the municipality where the house is located within eighteen months of purchase. This regulatory provision has also been suspended, in the wake of the pandemic. Here, too, the counting began again from the first of January.

Advantages

It must be remembered that in the first case, that is, not to resell another property purchased with liens within one year of purchasing the new home, and not to transfer the residence, entails the loss of liens. And it’s very generous: a 2 percent registration tax instead of 9 percent; flat tax on a 50 euro mortgage; and a flat cadastral tax of 50 euros. There is also a third type of facility whose terms are starting to flow again. That is, a prohibition on the sale or donation of franchise-purchased property to the first home in the five years following the purchase, unless a new home is purchased within one year of sale for use as a primary residence. So there will be time until December 31, 2022 to buy back another home for use as a primary residence, for those who sold during the pandemic months.

Furthermore, on the First Home Front as well, the 2022 gambit has been extended from June 30, 2022 until December 31, the deadlines for applying for certain benefits from the First Home Guarantee Fund and for being able to request concessions to purchase the first home already made available to young people who have not They are 36 years old, and who have an ISEE of not more than 40 thousand euros per year. The guarantee covers up to 80 percent of the loan (which should not exceed €250,000) and the interest rate is expected to be controlled. For these purposes, the Fund’s budget has been refinanced with an additional 242 million euros for 2022. Purchases by persons under 36, always in the case of an ISEE less than 40 thousand euros, are also considered tax incentives. You don’t pay land registry tax and mortgage tax, not even on a 0.25% mortgage.

rentals

Again with the Budget Act, the rent tax cuts, which were for young people, were redefined again. The requirement for personal data to be able to benefit from this service passes from 30 to 31 years, while the personal income tax deduction is set at 20% of the rent paid, with a maximum of 991.60 euros. The total income must not exceed 15,493.71 per year.