Prime Minister Luis Montenegro announced this Thursday, after a meeting of the Council of Ministers, the approval of bills introducing a maximum IRS rate of 15% for persons under 35 years of age and an exemption from paying BMI and stamp tax for the purchase of a first home, for young people up to 35 years old.
Montenegro also mentioned that the measures were approved in five areas, “all aimed at giving more hope to young Portuguese people so that they can settle in Portugal.” “We Portuguese need young Portuguese in Portugal so that we can all have a better future,” he said.
The first measure announced concerned taxation within the framework of taxation of income from labor activities. Montenegro announces approval of a bill that was already a commitment made during the elections: the introduction of a maximum IRS rate of 15% for persons under 35 years of age. This reduction will be a third of the rate compared to the current rate, the prime minister explains. The proposal will be discussed in parliament and, if approved, will be implemented from January 1, 2025.
On access to housing, the Prime Minister announced an exemption from IMT and stamp duty on the purchase of a first home under the age of 35, with no income restrictions. The measure comes into force on August 1, the request must be submitted in person to the financial department.
For houses valued up to €316,772 there will be a full exemption. For amounts between €316,772 and €633,453, the first part is exempt from tax and the remaining part is paid by the relevant BMI. Housing costs above 633,453 euros are not subject to reduction.
Montenegro announced the creation of a mechanism of state guarantees of up to 15% for the purchase of real estate worth up to 450 thousand euros by young people under 35 years old, with income up to the 8th level of the IRS, that is, 81,199 euros. annual taxable income.
To benefit from this measure, young people cannot be property owners and cannot already benefit from government guarantees.
The adaptation of tools for accessing rentals through the Porta 65 program was also approved.
Regarding student accommodation, it has been approved to provide 709 beds for displaced students and expanded support for the next academic year, which will correspond to 50% of the cost of the accommodation supplement allocated to scholarship holders, which ranges from €264.24 to €456.41, depending from the city.
The measure targets non-scholarship students whose per capita income ranges from 836 to 1,018 euros per month.
Continuing the theme of supporting youth, the Prime Minister said that scholarships would be extended to student workers.
The government also approved the expansion of the Cuida-te+ program for young people under 30, increasing the number of psychologists, nutritionists and nurses, as well as providing nutritional screening and free distribution of menstrual hygiene products.
The announcement of the measures can be found here:
Author: Philippa Novais This Lusa
Source: CM Jornal
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