Property Tax Deduction – “Construction Industry Portal”

Many Russians do not know that law gives them the right to the so so -cald Property Tax During Housing Construction, Purchase of Housing, Repair and Payment of Interstersta Lonation of intersters.

During the Construction of the House, You have the Right to Return to 260 Thusand. Rubles. This Corresponds to the Deduction Amount of 2 Million. Rubles, BecAuse When They Say “A Deduction of 2 Million. Rubles “, this Means that 13% of this amount Will Return to You. What Kind of Money is it and What do the Return from? This is Usoally the Income Tax that Employer Holds You. IF YOU HAVE AMPLOYER, MOST OFTEN, HE sores not has to pay you all wages. He Holds 13 Income Tax from IT (Personal Income Tax – Personal Income Tax). These Taxes Can Be Returned Under Certain Circumstances. The Construction of the House Is Such A “Circumstance” after Which The Right to Deduction Arses.

As for the repair, he also gives the right to deduction if it in the Newly Built Housing, or “Primary” purchassed. In the Latter Case, The Contract Must Necessarily Describe that Housing is Transferred Without Finishing. The Main Difficulty with The Property Tax Deduction for Repair Is Documents. For Deduction, You Will Need to Provide Certain Documents. On the Work Performed, this is, as a rule, a contact that describes What Has Been Done and by Whom, and a doCument confirming. For Example, A Receept in Receiving Money. According to the Purchased Materials, AS A Rule, Cash Register and Commodity Checks (Namely Both). Thus Documents Will Need to Provideed by the Tax Office to Receive A Deduction. TheFore, it is Important to Take Them Serious from the Very Begining.

When Buying Housing, For Example, Apartments, Property Tax Deduction Is Similar in Case of Construction. Perhaps the only difference is – in Order to Prove the Costs of the Very Fact of the Acquisition of Housing, Other Documents Will Ned to Be Shown. For Example, A Contract of Sale, and Not Documents Showing that House Is Built. Here You Can Read More About the Property Tax Deduction.

Mortgage Loan is Another “Circumstance”, Fortunatly, Giving the Right to Deduction. The Need to Pay Solid Interest on Mortgage Loan Will Somewhat Brighten Up Your Right to A Property Tax Deduction. You can read a deduction in the Amount of Interest Paid, That is, Actually Return 13% of Those Pertgage that has been Paid.