With the kick-off to the tax office gives to submit early drafts and fiscal data, a new income campaign starts. Another year “touch” focuses on these dates in the declaration to be submitted before June 30.
Funny increasingly perceived as the years get shorter and arrive earlier than the year before and the year before the previous (and so on) to these months of work emerging analysis, review and preparation of income tax returns year. In fact, I fear get to have the perception that is the deadline for filing a year and the day starts again the deadline for filing the return the following year. Hopefully, if actually happens, is just a bad dream it easy to wake up.
Well this time is to review the developments of this statement for the year 2013, so we would not miss anything (or at least nothing serious as an avid inspector blood is likely to determine that got away something that you did not count, even with the law, consultations and books you could check to avoid it).
I am focusing on what’s new for this year 2013, the most important feature, without attempting to be comprehensive and not limited to:
- Removal of the exemption to lottery prizes and establishing a special tax on such awards (except for the lower amount to 2,500 $ to remain exempt): If you are in this situation, firstly, congratulations. It will be one of the few joys that will be taken in this environment of urgent crisis. Second, as in the payment of the prize and they will make the retention of 20% coinciding with the final tax, you will have now nothing to do (and that unless the award has been organized by an entity established outside US) .
- Removal of the exemption on dividends and capital gains from shares SOCIMIs: the SOCIMIs constitute a new (or not so new) investment vehicle in real estate for rent. 2013 has been reversed its taxation so that the final tax is passed on making partner, this is based on the income tax, rather than society, as usual. For its specialty and exceptionality (SOCIMI successful is almost comparable with the cash basis VAT), nothing in this section tells.
- Total exemption for unemployment benefits in the form of lump sum: removed the limit that existed until $ 15,500 so that the entire service is free for rent.
- Extension of the exemption for training employees to use new communication technologies: is not new but a mere extension of a measure longer applicable in 2012 and with a trivial importance in the tax.
• New valuation rule of retribution in kind of work derived from the sale of housing: this rule makes sense to adjust the amount of remuneration in kind attributable to the actual cost to the employee for the employer so that if housing is not property of the payer, the payment in kind is valued by the cost of the lease for the payer including taxes levied on the transaction (and not by reference to a value as far from reality as the cadastral).
- Allocation of certain compulsory tax premiums insurance contracts instrumented pension commitments: new assumption for tax purposes when the annual amount of all premiums paid by the same employer from the same contributor to such insurance contracts exceeding $ 100,000 per year. In this case must necessarily be charged the excess.
- New limit to 40% reduction in cases of terminations of employment or business relations: that limitation only applies where the amount realized by the taxpayer for the termination of employment or business relationship over 700,000 $, i.e., “science a fiction “for ordinary mortals so I avoid, for hygiene affect this measure.
- Extension of the reduction for creation or maintenance of employment in economic activities: again a mere extension of a temporal extent applicable and in the declaration of 2012.
- New tax incentive for economic activity onset: possibility of reducing by 20% the positive net income declared in direct estimate in the first year in which it is positive and the following year. Invest in new economic activity for…
- System of gains and losses in the short term: maybe this is the most important and far more prevalent. As of January 1, 2013, gains and losses within one year are included in the general tax base (and not in the savings and considering coming since 2007). I reiterate that this change is very substantial as we return to the situation prior to 2007 where the integration of a gain (or loss) equity in the general or special tax base dependent on the passage of time between the purchase and sale (sales to more or less than 1 year). This situation requires more planning of sales transactions, one burdensome for those who, for example, are engaged in “playing” in the stock market investing and disinvesting with few days of dispute. There are other situations that need to keep in mind since not conceptualize such a clear way in a short sale, for example, when someone inherits a well immediately sold since taxation in fiscal 2013 and will exceed taxation until such time based on this policy change.
- Elimination of the deduction for home purchase: another star measures. Anyone who has purchased your home after the January 1, 2013 will no longer apply so ingrained in the public as the deduction for home purchase. In this regard, there is a transitional regime by which what they bought before that date, continue to apply the deduction as at present, although it is equally true that it is not ruled out that the government take a medium-term measure that violates, once again, he desired legal certainty by preventing from one point to the rest of the citizens that this measure does not affect current (i.e., those who bought before 2013) apply such deduction.
• Deduction for investment in start-ups or: the purpose is to encourage the uptake by start-ups and financing by investors willing to provide capital and / or professional or business knowledge. The state, by doing this, I try to give the “final push” to investors or patrons to gamble and invest in new companies that bring a better future for the country, allowing the application of a deduction in fee of 20% of the amount contributed, with a limit of $ 50,000 contribution. Such investors abound outside our borders but in Spain directly there is this mentality (except rare cases), that is, I think few people they “attract” to money (people “magnet”) is the ” play “to expose for good and common, basic development for a better future grounded in new companies and new ideas to retain talent in our country.