Buying a house is something that many people will experience at present, but buying a house is a big economic expenditure, which will cause certain economic pressure to many people, so they will choose to borrow money to buy a house. Mortgage interest can be tax deductible, which also relieves personal economic pressure to some extent. 1. 1 How much tax is deducted? Fixed deduction: children's education 1000 yuan/month, continuing education in 400 yuan/month or 3600 yuan/year, housing loan interest 1000 yuan/month, housing rent 1500 yuan/month or 16544. 2. Truthful deduction of medical treatment for serious illness: in each tax year, the part of the taxpayer's self-funded medical expenses exceeding 6,543,800 yuan+0.5 million yuan can be deducted within the limit of 80,000 yuan/year. Second, who will help you deduct 1 tax, and the company will help you withhold it every month. For the working class, after reporting the relevant information to the company, when the company pays wages every month, it is good to help withhold it every month, just like deducting "three insurances and one gold" every day. By the way, individuals who fill in information through app or web can choose "Company Withholding". Companies can receive these network information in time. According to the information you fill in, the company will withhold and remit it for you every month. 2. Self-declaration. For non-wage earners, or if there is no fixed unit to help you deduct taxes, you often need to declare yourself. Note that if you apply for it yourself, you can't deduct it every month. It needs to be processed every March 1 to June 30th of the following year. Three. Mortgage interest tax deduction policy If the house purchased by the taxpayer or his spouse in China belongs to the first home loan, it can be deducted according to the standard of 1 000 yuan per month, and the longest deduction period can reach 20 years. Taxpayers and their spouses who do not have their own houses in the main working cities can enjoy a certain amount of housing rent deduction according to the standards of different types of cities. If both husband and wife work in the same city, only one of them can enjoy the deduction of housing rent. It is worth noting that taxpayers and their spouses cannot enjoy the special additional deduction of housing loan interest and housing rent at the same time in a tax year. The mortgage tax deduction process is as follows: 1. The condition is to compare your personal situation with the special additional deduction conditions for housing loans and housing rents to see if you meet the deduction conditions. 2. Declaration information Whether you choose to enjoy the deduction when the withholding unit pays wages or choose to deduct it when you apply to the tax authorities for final settlement and payment in the following year, you only need to fill in and submit the relevant information of special additional deduction. Once the deduction method is selected, a tax year is not allowed to be changed, so taxpayers should carefully consider when filling out the form and make a wise choice to reduce taxes to the maximum extent. There are four specific ways to fill in the form: (1) download the mobile APP "Personal Income Tax" to fill in; (2) Log in to the websites of provincial electronic tax bureaus to fill in; (3) Fill in the electronic information form; (4) Fill in the paper information form; And (3) keep the relevant information of housing loan interest: housing loan contract, loan repayment fee voucher and other information. Housing rent: information such as housing lease contract or agreement. To sum up, if it belongs to the first home loan, it can be deducted according to the standard of 1000 yuan per month, and the longest deduction period can reach 20 years. Taxpayers and their spouses cannot enjoy the special deduction of housing loan interest and housing rent at the same time in a tax year.
Legal objectivity:
Interim Measures for Special Additional Deduction of Individual Income Tax
Article 14
If taxpayers or their spouses use individual housing loans from commercial banks or housing accumulation funds alone or jointly to purchase housing for themselves or their spouses in China, the interest expenses incurred from the first housing loan shall be deducted according to the standard quota of 1 000 yuan per month in the year when the loan interest actually occurred, and the maximum deduction period shall not exceed 240 months. Taxpayers can only enjoy a first home loan interest deduction.
Interim Measures for Special Additional Deduction of Individual Income Tax
Article 15
As agreed by both husband and wife, one of them can choose to deduct, and the specific deduction method cannot be changed within a tax year. For the first set of housing loans that occur when the husband and wife buy houses separately before marriage, they can choose to buy 1 house after marriage, and the buyer will deduct it according to the deduction standard of 100%, or the husband and wife will deduct it according to the deduction standard of 50%, and the specific deduction method cannot be changed within one tax year.