The right to receive that amount of citizens that pay income tax. If the property is acquired by the citizen in his own name or for a child under the age of majority, the state partially returns the sum of the tax back.
How to get money from the state when buying real estate
As for the amount that you can reclaim, it is 13% of the price of the acquired dwelling, but not counted more than 2 million rubles. Maximum it is 26 Tr If the housing has a greater value, the tax refund will be the amount of 2 million If the cost is less, the refund is calculated from it. While a person retains the right in case of purchase following property again apply for compensation through taxes paid.
How to get the money back with the mortgage loan
When buying a home with a mortgage you will be able to not only regain 13% of the price, but the same proportion of the amount of interest paid on a mortgage. That is, in this case, you have the opportunity to recover an amount in excess of 260 Tr Here as there is limitation – the amount of which is calculated the interest cannot be more than three million rubles.
If you wish to get a deduction you need to understand some points. At the end of one year you will not be able to obtain more money than you paid in taxes. While you still have the right to obtain the balance in the following year. In practice it looks approximately so.
Over a year you kept 13% of salary, which totalled, for example, 13,000 rubles. That is how much you will be able to regain after summing up the past year.
260 000 - 13 000=247 000
247 000 is the amount that you still have the right to receive in connection with the purchase of real estate. If taxes withheld for the year, does not allow you to return the whole amount at once, you can apply for its return the following year and so on until the payment in your favor will not be in total 260 000 rubles.
Where to go to get the money
To arrange payment, it will be necessary to submit documents to the tax authority at the place of your registration. This can be done once the right property to buy. If you buy an apartment in a newly built house, will have to provide a signed act of transfer and acceptance.