The 2018 Income campaign officially begins on April 2. From that date, the Income Tax return can be presented through the Internet with the Renta Web program and also by telephone. The option to present the declaration in person will be available from May 14, requesting a prior appointment from May 9.
For this campaign there are important news that the taxpayer should know before presenting his declaration. Some of them affect all taxpayers and others have a more specific character. The recommendation is to pay attention to all the news, to the state deductions, but also to the regional deductions that vary from one place to another.
Main news of the 2018 Income
With 2 payers, increase the minimum to not be forced to declare
From 12,000 euros to 12,643 euros. This is the increase of the minimum income from which it is required to declare that taxpayer who has more than one payer and the second or more has received more than 1,500 euros. Therefore, those who during 2018 have received less than 12,643 work income from two payers, will be exempt from submitting the declaration. In the declaration corresponding to the fiscal year of 2019, the minimum exempt from compulsory declaration will be set at 14,000 euros.
The reduction by work income is increased
For those who have an income of less than 16,825 euros per year and do not have income other than work that exceeds 6,500 euros, the reduction for work income changes. And it does so from July 5, 2018 as follows:
- Those who have received less than 13,115 euros per job, the reduction will be 5,565 euros per year.
- Anyone who has received earnings between 13,115 and 16,825 euros, the reduction will be 5,565 minus the result of multiplying the difference between what was earned and 13,115 euros and multiplying it by 1.5.
Increase maternity deduction
In case the taxpayer has had daycare expenses or authorized education centers, the maternity deduction is increased by 1,000 euros per year. These 1,000 euros are additional to 1,200 euros per year for maternity for each child under 3 years. Of course, it is very important that the center is authorized, since otherwise it will not have access to the deduction of 1,000 euros additional.
Maternity and paternity benefit exempt from taxation
One of the great novelties from a judgment of the Supreme Court, is that the maternity or paternity benefits received are exempt from taxation. This includes both benefits received from Social Security, as well as those received from social welfare mutuals that act as an alternative for self-employed or self-employed workers, as well as salaries paid by public employees without the right to receive maternity or paternity benefits. received during the leave of childbirth, adoption or guardianship and paternity.
This exemption came into force on December 30, 2018, but it is also applicable to previous years that have not been prescribed, so that those who have received these benefits and who have been taxed in the past have the right to be returned paid out.
The deduction for large family increases
Another deduction that increases its amount is that of large families. The increase in the deduction is 600 euros per year for each child that exceeds the required number of the general large family category, starting with the third child and the special large family category, starting with the fifth child. Of course, the deduction is only applicable from July to December 2018, so it will be a maximum of 250 euros. For the fiscal year 2019, the increase will be 600 euros.
Increase the percentage to deduct for investment in companies
Those that during 2018 have invested in new or recently created companies, will see an increase in the percentage of deduction, which goes from 20% to 30%. In addition, the base also increases, going from 50,000 euros to 60,000 euros.