Not deductible, but the handling fee can be deducted. Loan refers to the business activities of lending funds to others to obtain interest income. The interest generated by the loan business belongs to the non-deductible items of value-added tax, and special invoices for value-added tax shall not be issued or deducted. The service of accepting loans refers to the service of accepting interest income from lending funds to others, including all kinds of expenses obtained from occupying and borrowing funds, interest expenses generated from credit card overdraft, interest expenses generated from buying financial products for resale, interest expenses generated from margin financing and securities lending, interest and interest nature expenses obtained from bill negotiation, penalty interest, bill discount and borrowing, and expenses generated from accepting fixed profits or guaranteed profits from monetary funds investment. Article 680 of the Civil Code prohibits high-interest lending, and the lending rate shall not violate the relevant provisions of the state. If there is no agreement on the payment of interest in the loan contract, it shall be deemed that there is no interest. If the loan contract does not specify the payment method of interest, and the parties cannot reach a supplementary agreement, the interest shall be determined according to the local or the parties' trading methods, trading habits, market interest rates and other factors; Loans between natural persons are regarded as interest-free.
What are the tax deduction conditions for loan interest?
Legal analysis: the standard for deducting personal income tax from mortgage interest is 1000 yuan per month, and the longest deduction period is no more than 240 months. Those who can enjoy the deduction can choose to be deducted by one of them according to the agreement of both husband and wife. Keep a tax year unchanged after confirmation.
Pre-tax deduction conditions of mortgage interest: I or my spouse use the personal housing loan or housing accumulation fund of commercial banks alone or jointly to purchase housing for me or my spouse in China, and the interest expenses incurred in the first housing loan.
Note: If you are not sure whether your housing loan interest expense is in line with the policy, you can consult the loan contract (agreement) or consult the bank or housing provident fund center that handles the loan. When you are actually operating, pay attention to whether your loan repayment is based on the interest rate of the first suite.
When applying for pre-tax deduction of mortgage interest, taxpayers can submit information to the tax authorities by themselves or by withholding agents (such as unit accountants). The materials to be submitted include the personal identity information of the taxpayer himself, his spouse, minor children, and the dependent elderly, as well as other information related to the deduction of mortgage interest stipulated by the State Council tax authorities.
Housing and urban-rural construction departments assist in verifying the repayment expenditure information of housing provident fund loans of housing provident fund management institutions, natural resources departments assist in verifying real estate registration information, People's Bank of China and financial supervision and management departments verify the repayment expenditure information of housing commercial loans, and public security departments verify identity information.
Legal basis: Article 2 of the Individual Income Tax Law of People's Republic of China (PRC), the following personal income shall be subject to individual income tax:
(1) Income from wages and salaries;
(2) Income from remuneration for labor services;
(3) Income from remuneration;
(4) Income from royalties;
(5) Operating income;
(6) Income from interest, dividends and bonuses;
(7) Income from property lease;
(8) Income from property transfer;
(9) Accidental income.
Individual residents who obtain income from items 1 to 4 of the preceding paragraph (hereinafter referred to as comprehensive income) shall calculate individual income tax according to the tax year; Non-resident individuals who obtain income from items 1 to 4 of the preceding paragraph shall calculate individual income tax on a monthly or itemized basis. Taxpayers who obtain income from items 5 to 9 of the preceding paragraph shall calculate individual income tax separately in accordance with the provisions of this law.
Can the loan interest be deducted?
The loan interest cannot be deducted from the value-added tax.
The Provisions on Relevant Matters Concerning the Pilot Project of Changing Business Tax to Value-added Tax stipulates that the investment and financing consulting fees, handling fees and consulting fees directly related to the loan paid by the taxpayer to the lender by accepting the loan service shall not be deducted from the output tax.
The Measures for the Pilot Implementation of Changing Business Tax to VAT also clearly stipulates that the input tax of the following items shall not be deducted from the output tax: purchased passenger services, loan services, catering services, residents' daily services and entertainment services.
What is the deduction standard of housing loan interest?
The maximum monthly deduction is 65,438+0,000 yuan, which is equivalent to a tax deduction of about 360 yuan.
According to the regulations, in the year when the loan interest actually occurs, it is deducted according to the standard amount of 1 000 yuan per month, and the maximum deduction period is no more than 240 months. Taxpayers can only enjoy a first home loan interest deduction.
It should be pointed out that:
The first is the mortgage expenditure. And it is the first home loan expenditure.
Second, a family can only enjoy a deduction.
Third, if you own real estate before marriage, you can choose one of the real estate mortgages for deduction. You can deduct 100% for one person or 50% for each husband and wife.
Why is the loan interest not allowed to be deducted from the input?
Because the design concept of value-added tax is to pay value-added tax in the previous link, at present, the value-added tax is not calculated for deposit interest income, and the value-added tax generated by loan interest expenditure is not allowed to be deducted.
According to the Interim Measures for Special Additional Deduction of Individual Income Tax, 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 on the first housing loan will be deducted according to the standard of 1 000 yuan per month in the actual loan interest year, and the maximum deduction period will not exceed 240 months. The first housing loan refers to the housing loan that enjoys the interest rate of the first housing loan when buying a house. Taxpayers can only enjoy a first home loan interest deduction.
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. Fifteenth agreed by both husband and wife, can choose to be deducted by one of them, the specific method of deduction shall not be changed within a tax year. For the first set of housing loans that occur when the husband and wife buy houses separately before marriage, they can choose to buy 1 house after marriage, and the buyer will deduct it according to the deduction standard of 100%, or the husband and wife will deduct it according to the deduction standard of 50%, and the specific deduction method cannot be changed within one tax year. Article 16 Taxpayers should keep the housing loan contract and repayment expenditure vouchers for future reference.
What are the conditions for deducting individual tax from housing loan interest? These three things must be done!
How to deduct individual tax from housing loan interest may be the most concerned issue for housing owners. The "Interim Measures" announced the specific content and clarified the conditions and amount of deduction. Then, what are the conditions for deducting individual tax from housing loan interest? This time, I will talk to you about the conditions for deducting individual tax from housing loan interest.
Special additional deduction conditions for housing loan interest
1, it must be the first suite, and it is bought by mortgage, which can be deducted.
2. The first home loan can only enjoy a set of interest deduction.
3. With the family as the unit, one tax year is deducted from only one spouse. After the deduction method is determined, it shall not be changed within a tax year.
Interpretation of individual tax deduction conditions for housing loan interest
1, the meaning of the first suite refers to the interest expenses of the first home loan incurred by individuals or families, which can be used to offset the tax during the repayment period. Then the following conditions do not meet the conditions for deducting individual tax from housing loan interest:
(1) Both husband and wife paid the full amount for the first suite, and the second suite is repaying the loan, so the interest on the housing loan cannot be deducted from the tax.
(2) The man bought a suite headed by a suite before marriage and is repaying the loan, while the woman bought a suite headed by a suite before marriage and is also repaying the loan, so after marriage, the two can only enjoy the interest deduction of a first suite house.
2. After marriage, the deduction of interest on housing loans is calculated on a family basis, and only one party can be selected for deduction. For example, 20 19 housing loan interest is deducted from the man's pre-tax salary, so 20 19 is not allowed to change the deduction method. In 2020, the payer can be re-selected.
Housing loan interest tax deduction needs to meet the above three conditions. At the same time, the most important point is that only the mortgage interest of the first suite can be used to offset the tax. The standard of deducting individual tax from housing loan interest is 1000 yuan per month, and the standard will be adjusted with the change of expenditure in the future.
The introduction of loan interest expense deduction ends here.