# Tax Relief



## MaidenScotland (Jun 6, 2009)

Just received this in a mail shot.


From January 1st 2011, anyone with a declared annual income (renta annual) in excess of twenty four thousand Euro, will no longer qualify for automatic mortgage tax relief.

In a nutshell , this basically means that:

- anyone with a declared annul income over 24.107€, that purchases a property in Spain after 31.12.10 will no longer be entitled to the tax relief previously offered in relation to the interest on mortgage payments.

- anyone who purchases a property in Spain, with a declared annual income equal or inferior to 17.724€ will be entitled to a total deduction of tax relief and in the following year, a total of 15% up to the amount 9.040€

- anyone with a declared annual income between these two amounts, 17.724€ and 24.107€, will continue to enjoy mortgage tax relief calculated in a regressive manner. ie. a calculated percentage of relief that diminishes once you reach a salary of 24.107€


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## Alcalaina (Aug 6, 2010)

Looks like a good bit of progressive fiscal adjustment!

I could never understand why people got tax relief if they could afford to buy a house, but not if they could only afford to rent. They abolished it in the UK years ago, didn't they?


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