With approach of new year changes of the Tax Code concerning receiving a property deduction according to the personal income tax will start working upon residential real estate purchase. But the set of the questions connected with these changes, and is concrete, with procedure of receiving a deduction during "transition", appeared already now.
On this subject there were some comments from the Ministry of Finance which essence consists in the following: changes won't concern acquired and constructed in the current year or before housing.
Transfer of the rest of a deduction which is used till 2014, on other object isn't possible
Deduction distribution to some objects – the main amendment of the Law No. 212-FZ which has become the reason of excitements of citizens. Situation following: upon the apartment purchase which cost less than 2 million rubles, her owner can't receive the maximum sum of a property deduction according to the personal income tax, respectively, it can use the deduction rest, acquiring other housing.
One their letters of the Ministry of Finance gives such example. In 2011 the citizen bought housing, worth 1,6 million rubles, and he received a deduction in 2012. By the current legislation, its sum can make 1,6 million rubles, and it is necessary to return the personal income tax which sum will be equal 208 000 rubles, i.e. the cost of the apartment x 13%. Whether there is an opportunity to use the deduction rest, getting one more apartment in 2014 i.e. after new rules will start working? The financial ministry answered the matter negatively. The taxpayer has no bases for receiving deductions in 2014 as he already received it by the current legislation. The deduction rest in the sum of 400 thousand rubles (2 million rubles minus 1,6 million rubles) "burns down".
Similar conclusions are presented and in other letters of the Ministry. The natural person in 2006 bought the apartment and the deduction is received. In 2013 the citizen decided to participate in share construction, but to receive the documents confirming the property right, he will be able only in 2014. On explanations of the Ministry of Finance, on the first apartment the deduction is already received, and on the second for new rules it it isn't necessary.
On the housing bought till 2014, change don't extend in spite of the fact that the deduction wasn't received before
The natural person acquired two apartments: one in 2011 for 1,3 million rubles, the second in 2013 for 1,8 million rubles. The owner of housing didn't receive to this day a property deduction. Does it have the right to receive a deduction in 2014 on two objects total amount of 2 million rubles? Financial department again answered negatively: innovations are applicable to legal relationship on granting a property deduction which arose since January 1, 2014. Those who will wish to receive a deduction upon purchase of the apartment which is registered in property after January 1 of next year will be able to use these provisions only.
The deduction on credit percent in 2014 will be limited
Certainly, there are also pluses of the changes made to Art. 220 of the Tax Code. They are notable for those who bought residential real estate on a mortgage till 2014. This year the deduction sum on credit percent isn't limited: irrespective of the sum paid to bank, the borrower pays 13%. Next year on a deduction on percent for the credit will come into restriction force: according to item 4 of above-mentioned article it will be possible to receive no more than 3 million rubles only on one real estate object. The deduction rest at payment of credit percent isn't paid for other housing. If percent on the credit for the housing acquired in 2012 made 5 million rubles, here restrictions don't work, the deduction will be equal to the sum of percent, but the repeated deduction isn't provided.