Answers to some questions about purchasing housing for young people up to 35 years old:

Answers to some questions about home purchases by young people up to 35 years old:

1. From what date does the IMT IS tax exemption apply?

The exemption applies to all purchases made on or after August 1st.

2. I am 35 years old. The measure has been introduced for young people up to 35 years old, am I still covered?

The exemption applies to all young people if they are 35 years old or younger at the time of purchase.

3. I was unable to schedule my deed for after August 1st. Is the exemption retroactive? Or will I not be reimbursed for the IMT and IS that I paid?

No. The IMT and IS exemption applies to purchases made on or after August 1st.

4. I own a share of a residential property, acquired through an inheritance that has already been shared. Am I still covered by the IMT and IS exemption?

If a person already owns part of a residential property, regardless of the form of acquisition, the exemption from IMT and IS does not apply.

5. What if I sell this part of the property? Can I already have access to the exemption?

If more than three years have passed between the sale of this part of the residential property and the acquisition of a permanent home, and the other conditions of the law are met, you will be entitled to the exemption. Otherwise, you will not be entitled to the exemption.

6. I currently own a property, which is my permanent home. Am I entitled to the exemption?

No. This exemption only applies to the first acquisition of a property intended for permanent home ownership.

7. We are a couple and one of us already owns a residential property. If we buy a house together for permanent home ownership, will we be entitled to the exemption from IMT and IS?

In the event that only one of the people meets the conditions of the law, the exemption applies only to the part that that person will acquire (50%).

8. We are a couple and one of us is over 35 years old. If we buy a house together, do we lose the right to exemption from IMT and IS?

In the event that only one of the people meets the conditions of the law, the exemption applies only to the part that this person will acquire (50%).

9. What do we have to do to benefit from the exemption?

If you meet all the requirements to be entitled to IMT and IS exemptions, you must fill in the respective codes in the IMT model 1 declaration, to be submitted on the Tax Portal, or sent via the E-balcão (Tax Portal), or even presented in person at any Tax Office.

10. Does the IMT and IS exemption also apply to young foreigners?

The IMT and IS exemption applies to all young people who meet the conditions set out in the law, regardless of nationality.

11. The IMT and IS exemption applies to the purchase of real estate up to 316,772€. If I buy a property worth 500,000€, am I entitled to exemption?

For purchases worth between €316,772 and €633,453, there is the right to exemption up to 316,772€, with tax only being due on the part exceeding this value.