If you were thinking of purchase a plug-in electric vehicleinstalling a charging point for the car you already have or carrying out work to improve the energy efficiency of your home, it would be advisable to do so before the end of the year. Starting next January 1, the tax aid in the Income Tax (IRPF) that over the last two years has allowed thousands of taxpayers to lower the bill for these operations, taking advantage of the Government’s need to comply with the objectives of energy adaptation of homes and renewal of the vehicle fleet committed to Brussels in the Recovery Plan.
The objectives are still far from being achieved but the Tax incentives will disappear on December 31as the Registry of Tax Advisors (REAF) of the General Council of Economists recalled a few days ago.
Up to 3,000 euros savings on the car
The deduction for purchasing plug-in electric vehicles –not applicable to hybrids– warns the REAF – allows aid of up to 15% to be applied on a maximum base of 20,000 euros, which allows the purchase price of the car to be lowered by a maximum of 3,000 euros.
The tax aid can only be applied in the case of the acquisition of a new vehicle, so it does not apply if it is a zero kilometer car; and for private use, so it cannot be used to reduce the cost of renewing a company’s fleet. To be able to access the remainder of the year, you must ensure that the vehicle is registered before December 31 and to pay at least 25% of its price within this year.
The aid also allows 15% of the cost of installing a charging point to be deducted.
Make work cheaper at home
In about 40 days, two of the three tax incentives that have tried to promote economic growth since 2021 will also disappear from the map. improving the energy performance of the domestic residential parkwith an endowment of 450 million euros of European funds. Those that are coming to an end are the 20% tax reduction for amounts paid for renovations that guarantee a reduction of 7% or more in the demand for heating or cooling in the home, which has allowed taxpayers to save up to 1,000 euros in those reforms; and up to 40% for works capable of reducing the consumption of non-renewable primary energy in the home by 30%, with which you could save up to 3,000 euros in the IRPF.
Both will cease to be operational on December 31. In both cases, it is essential to be able to enjoy the tax benefit that an accredited certifying entity has measured the energy performance of the taxpayer’s home before and after the renovation to have an supporting document that ensures that the reform carried out has effectively complied with the efficiency improvement thresholds provided for in the standard.
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