State Budget for 2024: PPR without penalties, recovery of Capital Gains and the End of the RNH!
The State Budget for 2024 brings some significant changes that are directly or indirectly related to the real estate market, and that could affect the lives of the Portuguese. For example, according to the analysis of the website https://idealista.pt/:
- The redemption of PPR without tax penalties will continue in 2024, allowing families to withdraw their retirement savings plans in advance to help pay mortgage installments;
- The State Budget will also allow the recovery of tax on house capital gains; It is
- The Tax Regime for Non-Habitual Residents will be softened, in order to allow new beneficiaries.
These changes can have a significant impact on the financial lives of Portuguese people. Therefore, I decided it was important to analyze each of these points in more detail. Let’s go?!
Redemption of the PPR for early repayment of the housing loan
The State Budget extends until 2024 the opportunity to redeem retirement savings plans without penalty, especially to pay mortgage loans. These funds can be used without limits to pay credit installments or deliveries to housing cooperatives.
Recover capital gains tax from the sale of your home
Regarding capital gains tax, until the end of 2024, those who sold homes and were unable to reinvest the money have the opportunity to replace their IRS declaration and request a capital gains tax refund. This measure, explained in the State Budget for 2024, allows, within the scope of the Mais Habitação program, people to benefit from the suspension of the reinvestment period after the sale of their own home.
RNH regime will be extended
The State Budget for 2024 also proposes changes to the regime for non-habitual residents, making it accessible only to people with income linked to higher education teaching careers, scientific research or qualified jobs within the scope of contractual investment benefits productive.
In summary, the State Budget for 2024 brings significant changes to the real estate context in Portugal. The measures reflect a comprehensive approach to promoting financial and fiscal changes that can directly impact the lives of the Portuguese.
I hope this article was useful to you! If you are having difficulties, or need to clarify any questions, contact me! By choosing me as your real estate consultant, you are choosing to work with a professional committed to meeting your specific needs, and ensuring a smooth and satisfactory experience. Don’t forget, my success is reflected in your satisfaction. See you soon…