7 things you need to know about your tax returns
9 May, 2019duguech
1. Am I required to do my tax returns?
The obligation to do your tax returns depends on the income received by the taxpayer. You are obligated to do it if:
- You have earned more than 22.000 euros from one business.
- You have earned more than 22.000 euros from two or more employers, but what you have earned from the second business is less than 1.500 euros.
- You have earned more than 12.643 euros from two or more businesses and more than 1.500 from one or the rest.
2. When do you pay the IRPF if I’m an autonomous worker?
The situation of the autonomous (self-employed) is different. As a general norm, if you work as an autonomous worker, you may include costs attributed to your business or economic activity, or with professional formation. Regarding the IRPF, it is a progressive tax, meaning the more you earn the more you pay. In the 2019 tax returns for the IRPF of 2018, the following was established:
- Taxable base from 0 euros to 12.450 euros……………..19%
- Taxable base from 12.450 euros to 20.200 euros…….24%
- Taxable base from 20.200 euros to 35.200 euros…….30%
- Taxable base from 35,200 euros to 60.000 euros……..37%
- Taxable base from 60.000 euros onward…………………..45%
3. Can I deduct my house purchased in 2018?
In this case, you need to consult if your autonomous community has a specific deduction to take advantage of this fiscal benefit, however, the deductibility of the mortgage will be dependent on various factors:
- That the house was purchased before January 1, 2013. After that date mortgages are no longer deductible.
- That the mortgage has been used entirely for the acquisition of a house.
- That the property is the main residence. Mortgages on second residences or houses rented out to third parties are not deductible regarding deductions for the acquisition of a main residence in the IRPF.
4. How can I claim the deduction of day-care?
One of the new elements of this year is the fiscal benefit for family conciliation. This consists of a deduction of up to 1.000 euros for the cost of day-care. The deduction will appear in the draft of the declaration for mothers the Tax authorities consider beneficiaries to compare with the data on the 233 models that have to be sent to authorized centers.
However, many families have been left out of obtaining these benefits because not all day-cares present the corresponding information to the tax authorities. If this is your case, know that you can change the draft and make a rectification.
5. And in the case of maternity and paternity?
The families that obtained maternity and paternity benefits in 2016 and 2017 must update their information. Those who obtained them in 2018 don’t have to update the information as they are already included as non-taxable income in 2019.
6. What do I do with the x box for the Church or social allocation?
The first thing you should know is that this is an optional choice and is not mandatory for your tax returns. As a taxpayer, you can choose to give a part of your tax payable to collaborate with the economic sustainability of the Catholic Church or to objects of social interest.
7. When will the Tax Authorities return the money owed?
Legally the tax authorities have six months after the period when you need to present the declaration. In the case that they are delayed in returning the money, they are required to pay delay interests. The most important thing to keep in mind that a tax reimbursement does not exempt you from future tax audits.
This information does not constitute under any circumstances legal advice, serving only for informational purposes. In case you need professional services in Global Immigration and Mobility, please contact us.
* It should be taken into account that the regulations of any of the countries analysed as well as the established procedures may change at any time and without prior notice.
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