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10 REASONS NOT TO SELL A PROPERTY BETWEEN INDIVIDUALS
29th June 2022 -
10 REASONS NOT TO SELL A PROPERTY BETWEEN INDIVIDUALS
28th June 2022 -
10 REASONS NOT TO SELL A PROPERTY BETWEEN INDIVIDUALS
27th June 2022 -
Architecture Quality Law: an instrument to improve the lives of all people
4th June 2022 -
If you are going to buy a house, pay attention to the certificate of non-existence of urban planning infraction
3rd June 2022 -
If you are going to buy a house, pay attention to the certificate of non-existence of urban planning infraction
2nd June 2022 -
If you are going to buy a house, pay attention to the certificate of non-existence of urban planning infraction
1st June 2022 -
The Government values extending the limitation of 2% increase in the renewal of rents
31st May 2022 -
The Government values extending the limitation of 2% increase in the renewal of rents
30th May 2022 -
GRUPO NEXUS REAL ESTATE, WISHES YOU A VERY HAPPY MOTHER'S DAY
1st May 2022
HACIENDA ISSUES A NOTICE TO ALL HOMEOWNERS
7th July 2023Selling a property involves expenses such as municipal capital gains tax and payment of taxes to the tax authorities for the capital gains in the income tax return. Income tax is applied to the sale of properties and is paid in the following year's tax return based on the capital gains. However, there are exemptions. If the money from the sale is used to purchase a new primary residence, it is possible to avoid paying income tax by meeting requirements such as having resided in the sold property for at least three years and inhabiting the new property within twelve months. Individuals over 65 years old are also exempt from paying income tax on the sale of their primary residence, without the need to reinvest the money. If the sold property is a second home, they can avoid payment if they use the money to establish a life annuity within the established timeframes and amounts. Additionally, if the property has been transferred in lieu of payment, exemption can be enjoyed if there are no other sufficient assets to pay the mortgage debt.