From the age of 65, some tax reductions can really make the difference. Here they are.
Savings is a priority for many French people. Between daily expenses, rent or real estate credits to be reimbursed, electricity, costs related to transport, medical care, the bill generally climbs fairly quickly. Fortunately, certain tax advantages allow you to blow a little. On this subject, most taxpayers already know the aid for families with children – the half tax share, the tax credit for childcare costs -, the tax reduction for donations to associations or the tax credit for energy renovation work. But there are other devices that are not always known when they can really do good in the wallet, especially for that of retirees.
The over 65s are entitled to some particularly interesting tax advantages. The first is the specific allowance for the elderly, which also concerns invalid people. It reduces the amount of tax by reducing total taxable income. It applies automatically if you meet two conditions, namely being over 65 years old and not exceeding the income ceiling which is 28,170 euros annual. Depending on the level of resources, the allowance can go up to 2,796 euros, or even double for a couple concerned.
The second tax system can be very advantageous for owners over 65 years of age. This is the tax reduction on the property tax. Clearly, the person who is between 65 and 75 can obtain a reduction of 100 euros on the property tax of his main home if he does not exceed a certain ceiling of resources. For those over 75, the taxman gives them an exemption from the property tax. It also concerns people living in nursing homes who still have their main residence. Another advantageous system: these same people, hosted in a medical establishment, are entitled to a tax reduction equivalent to 25 % of the costs of accommodation and dependence, up to a limit of 10,000 euros per year. It is simply necessary to deduct the aids received as APA or the housing aid from the declared amount.
The fourth is a little better known, but just as useful: the tax credit. Indeed, the elderly can benefit from a credit of up to 50 % of the expenses incurred for home help, within the limits of a ceiling of 12,000 euros, and a second credit up to 25 % for the adaptation of housing to loss of autonomy or disability.
In addition, people who have an inclusion mobility card (CMI) or a disability card are entitled to an increase in the number of shares for the calculation of their income tax. The common point of these devices is to alleviate expenses while supporting the autonomy and quality of life of seniors who need them. It would be a shame to deprive it!
