In this article Gandalf will help us to know if we have an obligation to carry out the income statement if we are unemployed and receive income from the rental of some real estate.
Yes you have to make an income statement if you receive income from a rental
In the vast majority of cases we will be forced to make the declaration of income. In fact, if the amount of money exceeds 1,000 euros per year, we must carry it out. We must bear in mind that the unemployment benefit is considered by the Treasury as income from work.
How do I have to declare this income?
At the time you make the income statement, you must reflect them in the section “real estate returns” .
It seems logical that it is necessary to declare this type of profit, since the IRPF, tax on the income of natural persons, taxes precisely the income received during a fiscal year (one year).
Although we are used to almost automatically identify income with salary, because it represents the main source of income for almost all Spanish households, there are other types of income that must be declared, such as rents .
Did you not know this payment obligation?
In case you have to pay the taxes of the income statement of income from a rental and you have caught unforeseen, you can request a quick loan to Gandalf, pay taxes and return the amount of the microloan the following month when you have entered the payroll in your checking account.
From Gandalf we strongly recommend that you comply with your tax payment obligations set out in the current legislation.
How much will I have to pay in the statement?
It depends on the level of income you receive for rent. You should bear in mind that there can be situations of the most varied, from a senior executive who loses his job and receives an income of 10,000 euros per month in rental housing, to a person who loses his usual job and receives an income of 150 € per month, fruit of one of the considered “old rent rentals”.
In any case, the IRPF is a progressive tax, designed so that those with higher income levels pay more.
The sections of the income tax on individuals are the following:
From € 0 to € 12,450 => 19%
From € 12,451 to € 20,200 => 24%
From € 20,201 to € 35,200 => 30%
From € 35,201 to € 60,000 => 37%
More than € 60,001 => 45%
You must understand how it works, if for example your annual income is € 12,000, you will have to pay 19% of that amount in taxes. On the other hand, if your income is € 22,000, the form of taxation is the following: you will have to pay 19% of the 12,450 first euros, 24% for the next 7750 € and 30% for the remaining € 1,800.
It is common for many people to misinterpret the functioning of the progressive tax system. The most frequent mistake is to consider that € 22,000 would be taxed at 30%, when in reality it is not so
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