Treasury warns people over 65 about income statement

The tax amount to be paid is calculated in the income statement and the advance payments made during the year are deducted from this amount.

As with all taxpayers, 65-year-old retirees can also benefit deductions to pay less taxes and be able to return documents to tax authorities.

Expenses that can be deducted by retirees

All persons over 65 Those with an income of more than 22.000 Euros during 2022 are required to submit their declarations. corresponding rent. This tax liability includes the possibility of deducting a number of expenses, such as contributions to retirement plans, as determined by the Department of Finance.

The income statement is also take advantage of tax breaks to buy a house or pay rent However, these will only apply in autonomous communities that offer discounts for housing.

Another option is union dues that can be deducted from the income statementas long as certain requirements are met.

Also, all theseContributions to nonprofits are also deductible. in the income statement. These small amounts may seem insignificant, but the sum of them all can be very helpful in reducing the payment to the Tax Office.

It is important to note that. Situations where tax declaration is required this may be overlooked. One of these situations is probability. having lent money to a family member during the tax year. Contribution to property transfer tax is recommended in these cases, as pointed out by the Digital Economy.

On the other hand, regarding transmissions by donationespecially Do not pay taxes from 65 years of age the businesses to which it is directly committed, neither the benefits that SSI can give to retirees, nor the reverse mortgage schemes.

The Tax Office has made available various tools to make it easier for taxpayers over the age of 65 to file their returns, such as the possibility to do so online via the website or the “Tax Office” mobile application.