Which method to choose
Posted: Tue Feb 18, 2025 10:48 am
If you receive a benefit through your employer, you can only recoup the taxes you have already paid or will pay this year. And if you submit a request along with a declaration in the next calendar year, you can get back taxes for the last three years. In the first case, the application is processed faster, in the second case, you can recoup a significantly larger amount.
If you have been officially employed for the last three years, it makes sense to wait and receive a large payment no later than July 30 of the next calendar year. If income tax deductions only began this year, it is more advantageous to apply for the benefit through your employer - this way the money will come faster, but in small parts. If the entire deduction amount is not compensated during the current year, the payments will be carried over to the next year.
Results
It is officially impossible to receive a deduction for apartment renovation, but you can compensate for the costs of finishing work.
The benefit is valid only in cases where you bought an turkey mobile database unfinished apartment in a new building - directly from the developer. The absence of finishing must be specified in the purchase and sale agreement.
To take advantage of the right to a benefit, you must be a tax resident of Russia and pay personal income tax. You must also be the owner of the property in which finishing work is being carried out, and the property itself must be located in the territory of the Russian Federation.
You can get up to 13% of ₽2 million (₽260,000) for all property expenses, including the purchase of real estate itself. If the property costs ₽2 million, the limit will be used to compensate for its cost, and then there is no point in applying for a refund of part of the finishing costs.
Within the framework of the preferential program, you can request from the Federal Tax Service only an amount that does not exceed the personal income tax paid over the past three years.
All expenses must be confirmed by documents - receipts, estimates, design documentation.
There are two ways to take advantage of the benefit: submit an application to the Federal Tax Service along with the declaration next year or receive payments in the current year through your employer. In the first case, you can compensate for the personal income tax for the previous three years, in the second case - only for the current year. When compensating through your employer, you will actually be exempt from paying taxes until you receive the entire deduction amount.
If you have been officially employed for the last three years, it makes sense to wait and receive a large payment no later than July 30 of the next calendar year. If income tax deductions only began this year, it is more advantageous to apply for the benefit through your employer - this way the money will come faster, but in small parts. If the entire deduction amount is not compensated during the current year, the payments will be carried over to the next year.
Results
It is officially impossible to receive a deduction for apartment renovation, but you can compensate for the costs of finishing work.
The benefit is valid only in cases where you bought an turkey mobile database unfinished apartment in a new building - directly from the developer. The absence of finishing must be specified in the purchase and sale agreement.
To take advantage of the right to a benefit, you must be a tax resident of Russia and pay personal income tax. You must also be the owner of the property in which finishing work is being carried out, and the property itself must be located in the territory of the Russian Federation.
You can get up to 13% of ₽2 million (₽260,000) for all property expenses, including the purchase of real estate itself. If the property costs ₽2 million, the limit will be used to compensate for its cost, and then there is no point in applying for a refund of part of the finishing costs.
Within the framework of the preferential program, you can request from the Federal Tax Service only an amount that does not exceed the personal income tax paid over the past three years.
All expenses must be confirmed by documents - receipts, estimates, design documentation.
There are two ways to take advantage of the benefit: submit an application to the Federal Tax Service along with the declaration next year or receive payments in the current year through your employer. In the first case, you can compensate for the personal income tax for the previous three years, in the second case - only for the current year. When compensating through your employer, you will actually be exempt from paying taxes until you receive the entire deduction amount.