According to the information of the Chinese government website, in the year when the loan interest actually occurs, it is deducted according to the standard of 1000 yuan per month, and the maximum deduction period is no more than 240 months. Taxpayers can only enjoy the interest deduction of the first home loan once. This means that if you have a housing loan, you can deduct the maximum tax of 1000 yuan per month, and you can deduct up to 240,000 yuan in total.