Taxpayers can enjoy special tax deduction for housing loan interest. When calculating the taxable income of individual tax, in addition to the basic deduction of 5,000 yuan and special deductions such as "three insurances and one gold", the interest on housing loans can also be deducted according to certain standards. However, taxpayers should keep the housing loan contract and loan repayment expenditure vouchers for future reference.

Legal objectivity:

Interim Measures for Special Additional Deduction of Individual Income Tax Article 14 Where taxpayers and their spouses use individual housing loans from commercial banks or housing accumulation funds individually or jointly to purchase houses for themselves or their spouses in China, the interest expenses incurred in the first housing loan shall be deducted at a fixed rate of 1 10,000 yuan every month in the year when the loan interest actually occurs, and the maximum deduction period shall not exceed 240 months. Taxpayers can only enjoy the interest deduction of the first home loan once. 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.