Crédito habitação: Dedução dos juros no IRS só para contratos até 2011

Housing credit: Interest deduction in IRS only for contracts until 2011.

Only taxpayers who have taken out a home loan by December 2011 can deduct the interest from the contract in IRS. Understand what is at stake.

08 Feb 20243 min

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Want to review or transfer your mortgage contract? Talk to the credit intermediaries at Poupança no Minuto, a free service that will help you with everything! But be aware of the rule imposed regarding the deduction in IRS of interest on home loans.

Do you have a mortgage loan? Find out if you can deduct the contract interest on IRS.

The possibility of deducting interest on housing loans in IRS remains possible only for contracts concluded by December 31, 2011.

In other words, all property owners with a home loan who have signed the contract as of January 1, 2012 cannot declare the interest expenses of the financing in the annual IRS income statement, implying a tax penalty compared to previous contracts. previous contracts.

For taxpayers who are entitled to the deduction, they can deduct 15% of the amount paid in interest in the previous year, with a limit of 296 euros. Families with a taxable income below 300,000 euros can have a limit of up to 459 euros.  

This measure, which only covers contracts up to 2011, arose with the aim of "making adjustments to meet the targets imposed by the troika during the period when Portugal underwent the third intervention by the International Monetary Fund. In fact, not only was the deduction stopped for contracts after December 31, 2011, but the deductible amount of expenses (whether interest, rent, or other admissible) for housing was reduced, going from 30% to 15% of the total, among other changes," explains DECO Proteste.

The expectation was that the State Budget for 2023 would expand the deduction of interest on all home loans, given inflation and rising interest rates, as well as the proposals presented by various parties with parliamentary representation. However, the same did not happen and the rule remains unchanged.

In this sense, DECO Proteste explains that they advocate for "the return of deducting interest on IRS for all housing credit contracts, considering that this is an increasingly significant expense in families' budgets." And recommends to all consumers to "stay alert to the evolution of housing credit offers and regularly simulate a possible transfer of the loan to the bank that offers the most favorable proposal."

If you decide to go down this path, because you currently have a housing loan indexed to the Euribor and variations of it in the interest rate and monthly payment you make, know that there are campaigns from banks with more favorable mixed rates.

While Euribor rates (variable rate regime) are close to 4%, there are banks promoting mixed rates (fixed during a period, then returning to variable), starting at 2.50% if you fix the rate for one year. Therefore, review the current conditions of your contract and contact a credit intermediary, such as Poupança no Minuto, to (for free) collect simulations of your case and help you choose a more advantageous proposal for you. From there, start the process of transferring the credit to another bank!

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