To apply for special additional deduction of housing loan interest, a fixed deduction will generally be made according to the standard of 1000 per month, and the maximum deduction period will not exceed 240 months (note that taxpayers can only enjoy the first home loan interest deduction once). Of course, if you are married and both husband and wife bought a house before marriage, then after marriage, you can choose to deduct a set of houses you bought separately according to the deduction standard of 100%, that is, 500 yuan per month.
Not all mortgages are tax-free. They must be houses that enjoy the interest rate of the first home loan, and if they are in repayment state, and the loan type is pure commercial loan or provident fund loan. If the lender's mortgage meets the above conditions, it can declare the housing loan interest on the individual tax. After submission, he can reduce the tax by 1 1,000 yuan per month, and can only reduce the tax for 240 months at most, that is, he can reduce the tax by 240,000 yuan at most.
The expense deduction is the actual annual income of the taxpayer of 60,000 yuan; Special deductions include social insurance premiums and housing accumulation funds such as basic old-age insurance, basic medical insurance and unemployment insurance undertaken by individuals. The proportion of payment in different regions is different, and the specific deduction amount should be implemented in accordance with local policies.
The conditions for mortgage tax refund are as follows:
(1) The property used to apply for tax refund must be the one purchased by myself or my spouse in China;
(2) The loan applied for by real estate belongs to the first set of housing loans, and it is still being repaid in the deduction year;
(3) Users can only choose one of interest tax deduction of housing loan or housing rent tax deduction.
Mortgage tax rebate needs to be declared and then passed the tax audit. After the treasury is successfully handled, the money will be returned to the bank card provided by the taxpayer. Taxpayers who need tax refund can declare through online declaration, centralized declaration, entrusted declaration, postal declaration and tax service hall.
Among them, online tax refund declaration is faster, and you can also check your own tax refund business progress. In order to refund the tax through this channel, taxpayers need to log in to the tax APP for the annual settlement of comprehensive income. The processing time starts from March 1 every year and ends in June, which is almost four months.
Taxpayers should make three preparations for tax refund, one is to verify their income information, the other is to verify the special additional deduction information, and the third is to verify the bank card information. After the declaration time starts, log in to the individual tax APP- annual comprehensive income tax settlement, and declare according to the prompts.
legal ground
Interim Measures for Special Additional Deduction of Individual Income Tax
Article 14 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 RMB 1 000 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.
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.