1, interest calculated at nominal interest rate;
2. Excessive amortization and discount;
3. Loan costs, etc.
What is the meaning of housing loan interest expense?
The Notice of the State Council Municipality on Printing and Distributing the Interim Measures for Special Additional Deduction of Individual Income Tax (Guo Fa [2018] No.41) stipulates: Chapter V Interest on Housing Loans Article 14 If a taxpayer or his spouse uses a personal housing loan from a commercial bank or housing provident fund to buy a house for himself or his spouse in China, the interest expense on the first housing loan will be 65,430 per month in the year when the loan interest actually occurs. The term "first home loan" as mentioned in these Measures refers to the purchase loan that enjoys the interest rate of the first home loan when buying a house.
According to the above regulations, if you buy a house in the name of your parents and then repay the loan yourself, you can't enjoy the special additional deduction of interest on the house purchase loan.
Special additional deduction standard for housing loan interest expenditure
The special additional deduction of housing loan interest refers to one of the six special additional deductions stipulated in the Individual Income Tax Law of People's Republic of China (PRC).
Chapter V of the Interim Measures for Special Additional Deduction of Individual Income Tax has made relevant provisions on special additional deduction of housing loan interest, which will be implemented as of 20 19 1.
Taxpayers can enjoy six special additional deductions such as children's education, continuing education, serious illness medical care, housing loan interest or housing rent, and supporting the elderly, in addition to the basic deduction of 5,000 yuan and special additional deductions such as "three insurances and one gold" when calculating the taxable income of individual tax.