Construction financing: you are planning to build a house? Then you should pay special attention to the subject of housing subsidy. This is a state subsidy that can be applied for when concluding a bauspar contract – every citizen over the age of 16 who is a resident of germany is entitled to do so. The earlier the housing subsidy is claimed, the better: the most important questions are answered here.
How to submit an application for a housing subsidy?
The application for a housing subsidy must be requested from the building society with which a building savings contract has already been concluded in advance. This can usually be filled out and sent by mail to the building society or handed in personally there – in this case, the consultant responsible there can also answer any unanswered questions about the building savings contract, a building savings loan or building savings sums. If bauspar contracts were concluded as capital-forming benefits, they are excluded from the housing construction premium, as they are already subsidized with the employee savings allowance of nine percent.
Who is entitled to a housing subsidy?
Every resident of germany who has reached the age of 16 during the savings year is entitled to a housing bonus. Anyone who has reached the age of 18 and is a home savings customer can apply for the home savings bonus.
Are there income limits for the receipt of a housing subsidy??
This is available – for single persons, taxable income may not exceed 25.600 euros, for a married couple 51.200 euros maximum.
How much can a housing subsidy amount to?
The housing premium amounts to 8.8 percent of the maximum annual eligible contributions. In the case of a single person, this means a maximum of 512 euros 45.06 euros, in the case of a married couple, a maximum of 1.024 euro 90,11 euro – at least 50 euro per year must be eligible for the subsidy.
When is the housing construction premium paid out by the tax authorities??
The housing construction premium saved over the years is only paid out when the building savings contract concluded at the same time comes into use, i.E. When your own property is bought, renovated or refurbished. If building savings premiums have been paid only after they have been used for housing purposes, the housing savings premium will be transferred to the benefit of your building savings contract immediately after the premium application has been processed.
If a bauspar contract was signed before 1. The housing subsidy can be applied for if the savings contract was taken out on january 31, 2009, and is valid until january 31, 2009. December 2008 pays an amount equal to the standard savings rate, a special rule comes into effect: a transfer of the amount generated by the building savings contract is made when the building savings contract has been paid out, the seven-year commitment period has been exceeded or the building savings contract has otherwise been disposed of.
In case of such building savings contributions paid only after the expiry of the determination period of seven years or on already allocated building savings contracts, the housing construction premium is already transferred in favor of your building savings contract after the premium application has been processed.