Legal analysis: Yes. According to the Interim Measures for Special Additional Deduction of Individual Income Tax, Chapter V Interest on Housing Loans Article 14 The interest expenses of the first set of housing loans incurred by taxpayers or their spouses alone or * * together with personal housing loans or housing accumulation funds of commercial banks to purchase houses for themselves or their spouses in China shall be deducted according to the standard quota of 1 0,000 yuan per month in the year when the loan interest actually occurs, and the longest deduction period shall not exceed 240 months. Taxpayers can only enjoy a first home loan interest deduction. Legal basis: Article 14 of the Interim Measures for Special Additional Deduction of Individual Income Tax. If a taxpayer or his spouse uses a personal housing loan or housing accumulation fund of a commercial bank to purchase housing for himself or his spouse in China, the interest expenses incurred from the first housing loan shall be deducted according to the standard quota of RMB 1 000 per month in the year when the loan interest actually occurs, and the maximum deduction period shall not exceed 240 months. Taxpayers can only enjoy a first home loan interest deduction.
Second, the loan tax credit policy
Legal analysis: Yes. According to the Interim Measures for Additional Deduction and Installation of Personal Income Tax, Chapter V Interest on Housing Loans Article 14 If a taxpayer or one of his or her spouses uses personal housing loans from commercial banks or housing accumulation funds to buy a house for himself or her in China, the interest expenses incurred on 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.
Legal basis: Article 14 of the Interim Measures for Special Additional Deduction of Individual Income Tax. If a taxpayer or his spouse uses a personal housing loan or housing accumulation fund of a commercial bank to purchase housing for himself or his spouse in China, the interest expenses incurred from the first housing loan shall be deducted according to the standard quota of RMB 1 000 per month in the year when the loan interest actually occurs, and the maximum deduction period shall not exceed 240 months. Taxpayers can only enjoy a first home loan interest deduction.
3. How much tax can be deducted from provident fund loans?
The withholding ratio of provident fund varies from place to place, and its tax deduction provisions are as follows: the housing provident fund actually paid by units and individuals is allowed to be deducted from the personal taxable income within the range of not exceeding the average monthly salary of employees in the previous year 12%.
The average monthly deposit of housing provident fund by units and employees shall not exceed 3 times of the average monthly salary of employees in the previous year.
Fourth, the tax policy of mortgage interest deduction.
1. If a taxpayer or his spouse uses a personal housing loan or housing accumulation fund from a commercial bank to buy a house for himself or his spouse in China, the interest expenses incurred from the first housing loan shall be deducted according to the standard quota of 1000 yuan per month in the year when the loan interest actually occurs, and the maximum deduction period shall not exceed 240 months. Taxpayers can only enjoy a first home loan interest deduction. The term "first home loan" as mentioned in these Measures refers to the housing loan that enjoys the interest rate of the first home loan when buying a house. 2. As agreed by both husband and wife, one of them can choose to deduct, and the specific deduction method shall not be changed within one 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.