I. Basic Provisions on Special Tax Deduction for Mortgage Loans
The special tax for mortgage deduction, that is, the special additional deduction for the interest of the first home loan stipulated in the individual income tax law, is a preferential tax policy for deducting the loan interest paid by qualified taxpayers when calculating taxable income.
Second, the deduction standard and calculation method
According to the current policy, if taxpayers or their spouses use individual housing loans from commercial banks or housing accumulation funds alone or jointly to buy houses for themselves or their spouses in China, the interest expenses incurred from the first housing loan will be deducted according to the standard quota of 1 000 yuan per month in the year when the loan interest actually occurs, and the maximum deduction period will not exceed 240 months. This means that eligible taxpayers can deduct the mortgage interest of 12000 yuan at most every year.
It should be noted that this deduction standard is for each house, that is, taxpayers who own multiple houses and meet the deduction conditions can only choose one of them to enjoy the deduction. In addition, the deduction period is calculated from the month when the loan is issued, not from the time of purchase.
Three. Applicable conditions and restrictions
To enjoy the special tax deduction policy for mortgage loans, taxpayers need to meet certain conditions. First of all, the house purchased must be the first house purchased by the taxpayer or his spouse in China. Secondly, the loan should be a personal housing loan from a commercial bank or housing provident fund. In addition, taxpayers can only enjoy a first home loan interest deduction. If you have enjoyed the interest deduction of other mortgages before, you can't enjoy it any more.
At the same time, the policy also stipulates some restrictions. For example, if the taxpayer or his spouse has already enjoyed the housing-related tax benefits (such as housing subsidies, provident fund, etc.). In other respects, they may no longer enjoy the special tax deduction for mortgage loans. In addition, if the taxpayer transfers or rents the house to others, it will also affect the enjoyment of the deduction policy.
Four. Application process and matters needing attention
Eligible taxpayers can declare the special tax deduction of mortgage through the personal income tax APP or the website of the tax authorities at the time of annual settlement. When reporting, you need to provide relevant certification materials such as house purchase contract and loan contract, and ensure that the information filled in is true and accurate.
It should be noted that taxpayers should pay attention to policy changes in a timely manner to ensure that the deduction conditions are always met. At the same time, when enjoying the deduction policy, we should abide by relevant laws and regulations and tax regulations to avoid unnecessary tax risks.
To sum up, the amount of special tax deduction for mortgage loans is mainly calculated according to the fixed standard of 1 1,000 yuan per month, with the maximum deduction of 1 2,000 yuan per year. However, the enjoyment of this policy needs to meet certain conditions and is subject to some restrictions. When applying for deduction, taxpayers should ensure that they meet the policy requirements and provide relevant supporting materials.
Legal basis:
Individual Income Tax Law of the People's Republic of China
Article 6 stipulates: Calculation of taxable income:
(1) For the comprehensive income of individual residents, the taxable income shall be the income after deducting expenses of 60,000 yuan, special additional deductions and other deductions determined according to law.
Special additional deductions include children's education, continuing education, medical treatment for serious illness, housing loan interest or housing rent, support for the elderly and other expenses. The specific scope, standards and implementation steps are determined by the State Council and reported to the NPC Standing Committee for the record.
Interim Measures for Special Additional Deduction of Individual Income Tax
Article 14 stipulates that if taxpayers or their spouses use individual housing loans from commercial banks or housing accumulation funds alone or jointly to buy houses 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 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.