12 types of income from which you do not need to pay personal income tax

2024 Author: Malcolm Clapton | [email protected]. Last modified: 2023-12-17 03:44

Gifts, scholarships or refunds are not required to be reported to the tax office.

If you have earnings, it is subject to personal income tax (PIT). 13% of the funds received is deducted in favor of the state.

The Tax Code recognizes income of the Tax Code of the Russian Federation Article 41. Principles for determining income receipts in cash or material form that brought you benefits. In other words, not all the money and gifts that you have acquired are considered earnings from the point of view of the Federal Tax Service. The state does not need to pay for some things Tax Code of the Russian Federation Article 217. Income not subject to taxation.

1. Return of debt

There is no benefit here, you just get yours. So you don't have to inform the tax office about it. It doesn't matter if they return your money in cash or transfer to a card, this is not income.

2. A gift from a relative

Apartments, cars, factories, ships - as long as all this circulates within the family, it does not count as income. Keep in mind that close relatives are parents, grandparents, grandchildren, brothers and sisters.

3. Money as a gift

You can receive money as a gift without paying taxes not only from close relatives, but also from people of varying degrees of acquaintance. But be careful if you are an official: the present may be considered a bribe.

It is also possible to accept gifts in kind if it is not an apartment, car, shares or shares. If any of the above is donated to you by someone other than a close relative, you will have to pay personal income tax.

Money transfer to the card, if it is a gift, is also not taxed.

4. Cashback

The bank transfers money to your card every month, but this is not income Letter of October 21, 2016 N BS-4-11 / 19982. The essence of cashback is that part of the money spent is returned to you. This is a bonus for participating in a promotion of a financial institution, for which you must spend your money.

5. Benefits, lump sum payments and compensations

This includes unemployment benefits, maternity benefits, monthly payments in connection with the birth or adoption of a child, and many other types of support and compensation. There are nuances, so in each case it is better to check with the Tax Code.

6. Income on deposits with a low interest rate

Personal income tax will have to pay the Tax Code of the Russian Federation, Part 2, if the interest rate on the ruble deposit is five points higher than the rate. The refinancing rate of the Central Bank of the Russian Federation of the Central Bank is now 12.5%. For foreign currency deposits, the figure is fixed - 9%.

But you simply will not find deposits with such a rate. Interest rates on loans and deposits and the structure of loans and deposits by maturity, so there is no need to worry about tax.

7. Legacy

The property and money that you got on a sad occasion are not subject to personal income tax. But the state will take money from you in a different way - in the form of a state duty.

8. Income from the sale of certain types of products

If you grow vegetables and fruits on your personal plot, sell meat, milk, eggs, you may not pay the tax. But only if these conditions are met:

• the total area of the land plot does not exceed the Federal Law of July 7, 2003 N 112-FZ "On personal subsidiary plots" 0.5 hectares;
• you do not use the labor of hired workers;
• you have a document that confirms the first and second points. It is issued by the relevant local government body, the board of a horticultural, vegetable gardening or dacha non-profit association of citizens.

If you sell wild fruits, berries, nuts, mushrooms harvested in the forest, you can also not pay the tax.

9. Income from the sale of housing that you have owned for more than 5 years

If this period has not expired, personal income tax will have to be paid, but there are exceptions to the Tax Code of the Russian Federation, part 2 (Tax Code of the Russian Federation, part 2). It is enough to own a home for three years to get away from tax if:

• you received property by inheritance or as a gift from a close relative;
• you have privatized an apartment;
• you got a dependent housing for life.

10. Pensions and scholarships

Income tax is exempt. Therefore, you cannot receive a tax deduction for them.

11. Payment for some services

The tax is not paid if you receive remuneration for:

• looking after children, sick people and people over 80 years old;
• tutoring;
• cleaning and housekeeping.

12. Winnings up to 4 thousand rubles

If you won less than 4 thousand rubles in the lottery in a year, then you do not need to pay tax. The same rule applies to promotions and contests. If the amount is higher, the organizer usually pays the tax himself. But it is better to follow this, so as not to remain in debt to the tax authorities.