Perform the income tax return each year can be a headache. However, it is very important to be well informed and to do it correctly, as it can change the impact of this procedure on our pocket.
A key aspect in this regard is the deductions that taxpayers can apply to reduce the amount of taxes to pay. Most of them, such as the regional, housing or donation taxes, are well known, but others have recently undergone modifications and are often overlooked. This is the case of the deduction derived from the caring for a minor under 25 years of agewhich will earn some parents up to 1,500 euros.
Benefits for parents with children at home
A good part of the tax benefits for children are focused on children under three years of age and children of school age, but children can be included in the personal income tax return until age 25 and file a joint declaration with their parents. As long as the children do not earn more than 8,000 euros and have not filed their own personal income tax, they can file a declaration as a family unit and benefit from the minimums for descendants in the personal income tax.
The case of Asturias
Deductions depend largely on the legislation of each autonomous community. A striking case is that of Asturias, where there is a deduction for care of descendants or adopted children under 25 years of age.
This deduction is from 300 euros (150 per parent) for the first descendantand increases depending on the number of children in the home, being, for example, 600 with the second child. This means that parents with two minors under 25 years of age in their care could receive 900 euros, a figure that would rise to 1,500 with the third child.
Requirements
There are two main requirements for parents to be able to benefit from the deduction for the care of a minor under 25 years of age. The first is that it is allowed apply the deduction until age 26and the deduction will be calculated proportionally to the number of months in which the requirements are met.
Secondly, the taxpayer’s income must not exceed 35,000 euros in an individual declaration or 45,000 euros in a joint declaration.
Follow the AS Newspaper channel on WhatsAppwhere you will find all things sport in one place: the latest news, the agenda with the latest news on the most important sporting events, the most notable images, the opinions of the best AS journalists, reports, videos, and a bit of humour from time to time.
