The 2025 income tax campaign begins with 24 deductions in the Balearic Islands and new aid
One of the main new features is a deduction that allows homeowners with illegally occupied properties or evictions to offset up to 500 euros in expenses
PalmThe income tax declaration campaign for the 2025 fiscal year kicked off this Wednesday with notable news in the Balearic Islands, where taxpayers will be able to apply up to 24 regional deductions, three of which are new.
As reported by the Ministry of Economy, Finance and Innovation, one of the main new features is a deduction that allows for the compensation of up to 40% – with a limit of 500 euros – of the expenses incurred by owners of properties illegally occupied or with evictions suspended due to tenant vulnerability. Deductible expenses include property tax (IBI), basic utilities (water, electricity, gas, or telecommunications), and also legal costs to recover the property.
Another of the highlighted measures is the equalization of self-employed individuals with large families and single-parent families in three deductions: the purchase of textbooks, childcare expenses for children under six years of age, and rent for the habitual residence. This will allow this group to access more tax benefits and increase the maximum income limit by 20%.
Furthermore, the percentage increase in the income limit rises to 30% in the case of large families of special category, with the aim of easing the financial burden on these family units.
More deductions and improvements during the legislature
During this legislature, the Government has created eight new regional deductions, among which stand out those related to birth and adoption, expenses for people over 65 years old, the promotion of self-employment or support for people with Amyotrophic Lateral Sclerosis (ALS). The deduction for owners of homes intended for rent has also been incorporated, with the aim of increasing the supply.
Likewise, five existing deductions have been improved, such as those for habitual rent, textbooks, family reconciliation, higher education outside the island, and compensation for the increase in variable mortgages.
2024 Campaign
Regarding the previous campaign (2024 fiscal year), a total of 111,418 taxpayers in the Balearic Islands benefited from some regional deduction, 72.9% more than in 2022.
The economic impact was 39.18 million euros, with an average saving of 352 euros per taxpayer. Among the most notable deductions, the rent for habitual housing stands out, with more than 21,000 beneficiaries, and the one for textbooks, with more than 37,600 taxpayers.