Individual tax deduction with special deductions

BEIJING, Nov. 4, CLIENT OF CHINESE NEW NETWORK, did you make any comments? On Nov. 4, the Interim Measures for Special Additional Deduction of Personal Income Tax (Draft for Comments) ended public consultation. What is the standard of special additional deduction? How much is the tax reduction? What kind of people benefit most? Is the interpretation of "single tax" valid? These four major focus issues continue to attract massage
This tax reform, while raising the starting point to 5,000 yuan, also increased for the first time six special additional deductions such as children's education, continuing education, serious illness medical treatment, interest on housing loans, housing rent and supporting the elderly.
Many people do not understand what it means to add 6 additional deductions. In fact, it is very simple, which means that the above six expenditures can be deducted before tax. After deduction, you will pay less tax and increase your income.
What are the six special additional deduction criteria? According to the Draft for Solicitation of Opinions, 12,000 yuan is deducted from each child's education quota annually; 3,600 yuan or 4,800 yuan is deducted from continuing education quota annually; 60,000 yuan is deducted from the part of serious illness medical treatment exceeding 15,000 yuan annually; and interest on the first suite loan is deducted annually. In terms of housing rent, according to different city standards, the maximum monthly quota deducts 1200 yuan; in terms of supporting the elderly, the standard quota deducts 2000 yuan per month.male massage
In the process of soliciting opinions, some experts proposed to increase the expenditure on infant and child care education under 3 years of age. The reason is that the development of public early education institutions is lagging behind, and preschool education under 3 years of age is basically burdened by families. This deduction should be increased to reflect the importance of early education under 3 years of age.
According to the Draft for Solicitation of Opinions, the special additional deduction for children's education is limited to pre-school education from the age of 3 to primary school, and does not include expenditure on pre-school education for infants and young children under the age of 3.
According to the above criteria, how big is the tax reduction? Let's look at the formula first.
Taxable income = monthly income - 5000 yuan (starting point) - special deduction (three insurance, one fund, etc) - special additional deduction - other deductions determined by club
For example, Xiao Li, a married man, works in Beijing with a monthly income of 10,000 yuan, a special deduction of 2,000 yuan for "three insurance and one fund", a monthly rent of 4,000 yuan, a child attends kindergarten, and his parents are over 60 years old.
When the threshold is 3500 yuan, there is no special additional deduction, which needs to pay 345 yuan per month.
When the starting point is 5000 yuan, there is no special additional deduction, and the monthly tax should be paid (10000-5000-2000)*3%=90 yuan.
According to the new policy, Xiao Li can enjoy 1,200 yuan deduction of housing rent, 1,000 yuan deduction of children's education, 1,000 yuan deduction of supporting the elderly (with the sister's share deduction), so the per capita tax= (10,000-5000-2000-1,200-1,000-1,000) *3%=0 spa
Before this tax reform, the deduction factors of salary income were single, mainly including special deduction items such as basic old-age insurance, basic medical insurance, unemployment insurance and housing accumulation fund. However, there was no special additional deduction such as education and maintenance, and the family burden of taxpayers was not taken into account. Under the same income level, the ratio of raising population was higher. Many taxpayers are unfair.
Lou Jiwei, former Minister of finance, once said that with a personal income of 5,000 yuan a month, life could be good. If there is support and support, it will be very difficult.
That is to say, the increase of special additional deduction takes into account the difference of individual burden and is conducive to the fairness of tax sex massage
In the outside world, according to the current special additional deduction standard, the burden of household expenditure is heavier, and the middle-aged people with old age, small size and mortgage are the most profitable. They have a high probability of enjoying additional deductions such as children's education, first home loans and supporting the elderly.
Gan Li, Dean of the Institute of Economics and Management, Southwest University of Finance and Economics, said that tax cuts vary from person to person, depending on personal wages and how much additional deductions can be enjoyed. In general, the heavier the family burden, the more deductions people can sauna
Therefore, some people concluded that to enjoy more tax cuts, to seize the birth of children, send to school, money to buy a sufficiently living house, filial piety to parents, more to learn.
Many netizens interpret "special additional deduction" as "single tax", on the grounds that single people do not have expenditures such as children's education, and will pay more taxes than married people.
In fact, this interpretation is not valid.
Wang Jianfan, Secretary for Taxation of the Ministry of Finance, said at a previous press conference that not everyone can get six special additional deductions. For example, rent and interest on mortgage can only be taken on one item, either withholding rent or withholding interest on bar
"Others like continuing education and being single can enjoy continuing education. Serious illness does not necessarily have to be deducted, but it can be deducted if it meets the requirements, which has nothing to do with identity. Wang Jianfan said.
Shi Zhengwen, director of the Research Center of Finance, Taxation and Law of China University of Political Science and Law, believes that it is reasonable and appropriate for families to deduct expenditures due to heavy burdens. In addition, some other special supplementary items do not distinguish between single and married, such as continuing education expenditure, major illness expenditure, housing loans, rent and other items, which are likely to be enjoyed by every taxpayer.neil massage
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