Interest on house purchase loans can be deducted specially. Of course, there are certain standards for deduction, and I believe many buyers are still unclear. 1. What is the special additional deduction standard for housing loan interest? 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. From 20 19 65438+ 10/month 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. Second, what is the loan process? 1. Know your repayment ability. 2. Understand the credit information. 3. Know the bank. 4. Prepare the information needed for the loan. 5. Sign a loan contract. 3. Wait for the bank to lend money. What problems should I pay attention to when buying a house loan? 1. The prepayment method is restricted by the bank. If you choose to shorten the loan life, keeping the monthly repayment amount unchanged can save interest than reducing the monthly repayment amount and keeping the loan life unchanged. However, some banks need to know that banks make profits through interest, and the interest paid by buyers is less, which will affect the income of lending banks. Therefore, we can only stipulate the default mode of "reducing the monthly repayment amount and keeping the loan term unchanged" to limit the buyers. Of course, not all banks have this provision, and each bank's mortgage policy will be different, and shortening the loan period also has disadvantages. 2. To shorten the loan life, you need to re-sign the loan contract to choose to shorten the loan life, and you need to re-sign the loan contract to repay the loan in advance. For example, the loan of 6,543,800+0,000 yuan has been repaid, and the remaining 700,000 has not been repaid. If you want to apply for prepayment of 200,000 yuan, and if you choose to shorten the loan term, after repayment of 200,000 yuan, the remaining 500,000 yuan will be re-signed with the bank, and the remaining loans will be implemented according to the latest mortgage interest rate. This year, the credit policy has been tightened, and interest rate concessions in many hot cities have plummeted. The previous interest rate was 8.5. In addition, the bank will re-evaluate the borrower's personal qualifications. Some lenders have credit problems during the repayment period, which will affect the subsequent repayment and may even increase the loan interest rate! 3. With the tightening of loans and rising wealth management income, it may not be cost-effective to repay in advance. Since last year, due to the continuous loose policy of banks and limited investment channels, people are reluctant to deposit money in banks, so real estate has become the darling of investors, and a large amount of funds have flocked to the property market. Buyers are constantly looking for bank loans, and the bank's money can't get in. There are many borrowers and few depositors.
Legal objectivity:
Interim Measures for Special Additional Deduction of Personal Income Tax Article 14 If a taxpayer or his spouse uses a personal housing loan from a commercial bank or housing accumulation fund alone or jointly to buy a house for himself or his spouse in China, the interest expenses incurred in 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.