For the payment of interest on loans for the purchase of housing by young people under thirty years of age

Regulations: Art. 12 Consolidated Text of the legal provisions of the Community of Madrid regarding taxes ceded by the State, approved by Legislative Decree 1/2010, of October 21

Amount of deduction

• 25 percent of the interest paid during the tax period for mortgage loans obtained for the acquisition of the home that constitutes or will constitute the habitual home of the taxpayer.

  habitual residence will be considered to be that meets the definition and requirements established in the - Additional Provision of the Personal Income Tax Law and its implementing regulations, as amended since January 1, 2013.

• The maximum deduction limit is 1,031 euros, both in individual taxation and in joint taxation.

Requirements for applying the deduction

• That taxpayers are under 30 years of age .

  If only one of the owners meets this age requirement during the tax period, this taxpayer will be the only one who can apply the deduction in that tax period for the amounts that he has paid corresponding to his share of ownership in the home.

Important : The deduction will be applicable for the interest paid up to month prior to the month in which the taxpayer reaches 30 years of age.

Incompatibility

This deduction is incompatible with the application of the regional deduction “Due to the increase in the costs of external financing for investment in primary residence resulting from the rise in interest rates.”