Standards for special additional deductions for housing loans in Shenzhen

Legal subjectivity:

The special additional deduction rules for mortgage interest generally refer to: children’s education, continuing education, serious illness medical treatment, housing loan interest or housing rent, alimony stipulated in the Personal Income Tax Law 6 special additional deductions for the elderly and others. The taxpayer or his spouse can choose to deduct the first home loan interest expenses incurred by the taxpayer or his spouse when purchasing a house in China at a rate of 1,000 yuan per month by the spouse. The deduction period shall not exceed 240 months (20 years). The law is objective:

"Interim Measures for Special Additional Deductions for Personal Income Tax"

Article 14

The taxpayer himself or his spouse, alone or together, uses commercial If a personal housing loan from a bank or housing provident fund is used to purchase a house in China for himself or his spouse, the interest expense on the first housing loan shall be deducted at a standard fixed amount of 1,000 yuan per month in the year in which the loan interest is actually incurred. The maximum deduction period shall not exceed 240 months. Taxpayers can only enjoy a one-time deduction for interest on their first home loan.

"Interim Measures for Special Additional Deductions for Personal Income Tax"

Article 15

Upon agreement by both spouses, one of the spouses can choose to have the deductions made. The specific deduction methods are as follows: It cannot be changed within a tax year.