How to get a simplified tax deduction

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

We will understand in more detail whether the innovation concerns you and whether it is worth waiting for a notification from the Federal Tax Service.

If you receive income in Russia, you must pay the corresponding tax on it. However, in some cases, the state is ready to exempt part of the earnings from personal income tax by providing a tax deduction. This is the amount with which you can not transfer taxes. You are entitled to 13% of it. Since we are talking about the return of personal income tax, then in a year you can get no more than you paid.

You can get money if you studied, received medical treatment, bought real estate, invested or improved your qualifications.

Since May, a tax deduction can be issued without filing a declaration and unnecessary gestures. The Federal Tax Service itself will notify of such a possibility. They promise to make a decision on payment twice as fast as usual. True, this does not apply to all deductions. And there are plenty of other nuances in the simplified design.

What is a simplified tax deduction procedure

On May 21, 2021, a law came into force that introduced a new way to issue a deduction.

They call it selfless, or proactive, because you practically don't have to do anything. The tax office itself collects information about your income and expenses and decides if you are entitled to a deduction. If so, a pre-filled application will be sent to your personal account on the FTS website. It will need to be signed - probably with an electronic signature, which can be issued there, on the tax website.

Since the FTS has all the data, there is no need to check them for three months, as usual. They promise to do it in no longer than one. It will take up to 15 days to transfer money. That is, the waiting time for funds, compared to filing a declaration, will be more than halved.

What tax deductions can be obtained in a simplified manner

It is assumed that the tax office will draw up applications based on data received from banks and from brokers. Therefore, only certain types of deductions can be issued in a new way.

Property tax deduction

It is due to those who have purchased housing. The maximum deduction amount is 2 million rubles from the cost of an apartment or house and 3 million from the interest paid on the mortgage. You will receive 260 thousand and 390 thousand, respectively.

If the housing cost less than 2 million, then the deduction will be less. For example, when buying an apartment for 1.5 million, it will be the same. Likewise with interest. True, the deduction from the cost of housing can be applied to several purchases - say, 1.5 million from one apartment, 500 thousand from another. Only one object has to be counted with interest.

If you paid for an apartment through a bank or extinguish a mortgage, the tax office will find out about this from the institution and will be able to calculate everything. True, this is where the nuances appear:

• It is not yet clear what will happen if the apartment is paid in cash or without a mortgage. On the one hand, data on the transfer of ownership appears in Rosreestr and is transferred to the Federal Tax Service for calculating property tax. On the other hand, the new law deals only with information from tax agents and banks. And this gives reason to believe that the simplified procedure may not work in this case.
• If the apartment was purchased in marriage, both spouses have the right to request deductions, and it does not matter for whom it is registered. This is beneficial if the property is worth more than 2 million. For example, with a property price of 4 million, spouses can receive 520 thousand - 260 each. However, it is unclear how this would work with a simplified checkout order.
• Banks can, but are not required to provide information about their payers. To transmit data, they must join an information exchange system. But this is voluntary. So far, no bank is ready to talk about transactions and mortgages. And in this case, you should not wait for a pre-filled application from the tax office - it has nowhere to find out about your right to deduction.

Investment tax deduction

It is provided for those who have opened individual investment accounts (IIA) and is of two types:

1. Type A - equal to the amount by which you replenished the IIS, but not more than 400 thousand rubles per year. Accordingly, 52 thousand can be returned. The deduction is drawn up after the expiration of the year in which the IIS was replenished.
2. Type B - exempts from tax on income received thanks to IIS.

You choose the type of deduction yourself. With type A, you can get money using a simplified processing procedure. With type B, the FTS will notify the broker that there is no need to pay tax for the investor.

As with property deduction, brokers and banks must join the information exchange system to provide tax data on IIS transactions. So far, only VTB shares information on IIS.

Who can receive a tax deduction in a simplified manner

First you need to meet the requirements for getting a deduction in general:

• be a resident of the Russian Federation, that is, spend more than 182 days a year in the country;
• have official income and pay tax on it at a rate of 13%.

For a simplified deduction, there are several more conditions:

• you have a personal account on the FTS website;
• you became eligible for the deduction in 2020 or later.

Nothing else depends on you. But, as we have already determined, this is not enough to get the deduction in a simplified way. If the bank or broker does not transfer data about you to the tax office, the inspectorate simply will not be able to calculate anything and send you a notification.

When the deduction information appears in your account

According to the law, if the tax office received information from a bank or broker before March 1, then it must send a notification by March 20. If the information was provided later, the service has 20 working days.

In other words, from 2022 the Federal Tax Service will form a pre-filled application until March 20, in the same year it will act in accordance with the second rule.

This is the time to ask the question: does the new order really allow you to get the deduction faster?

The tax must transfer money no later than 45 days after you sign and send the application. However, if you take into account that you will receive a notice of deduction no earlier than mid-March, the payment will be due at the end of April - beginning of May. And this is if the bank or broker works quickly. Otherwise, you can wait much longer for notification and, accordingly, money. And there is no way to speed up the process.

What to do if you don't want to receive a simplified deduction

It can still be done through your employer or by filing a declaration.

In the first case, you need to bring a notice from the tax office to the accounting department of your company that you have the right to a deduction. Then personal income tax will not be withheld from the salary for some time.

In the second, submit a 3-NDFL declaration to the Federal Tax Service: in person, by mail or online on the tax website. The service will have up to three months to check the declaration and conduct a desk review. Even up to a month, the FTS is given to transfer money.

These methods are suitable if:

• you have the right to different deductions, for example property and social, and you want to take advantage of all;
• you bought a married property and intend to receive a deduction for both spouses;
• you are not ready to wait for the bank or broker to join the information exchange system and send the data, and the tax office will process it.

In general, in any incomprehensible situation, follow the proven path. Moreover, the declaration is now easy to file online on the tax website.

What is important to know about the simplified deduction procedure

• The new design order really looks simpler. You don't need to fill out anything, collect documents. The Federal Tax Service will do everything for you. It will also process your application faster.
• This is handy if you had no idea that you were entitled to a deduction. It's nice to go to the FTS website and see that you are owed some money. If the tax authorities do not need help, it will probably be faster to file a return or draw up a deduction through an employer.
• According to the law, property and investment deductions for 2020 can be obtained in a simplified manner. In fact, so far this works only for the latter, data on which is provided by VTB. In other cases, waiting for a notification from the tax office is still pointless. Better to file a declaration.