In our calculations we use the net assets of all household members, 18 years and older, based on tax returns.
Assets can for example be deposits in bank accounts, vehicles, real estate, stock holdings, among other things. This refers to net assets according to the tax return, that is, all assets minus all liabilities.
If total assets are below the minimum asset limit, there will be no reduction to the housing benefits.
If total assets are above the maximum asset limit, the applicant is not eligible for housing benefits.
Minimum asset limit: ISK 8 million
Maximum asset limit: ISK 12,8 million
If the property status of the applicant and/or household members has changed significantly since the last tax return, we recommend that the applicant provides us with that information through HMS My pages or by email to hms@hms.is, together with data that shows the change.
Our experts will then be able to recalculate the right to housing benefits.