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Specialist Glazkov: thanks to tax social deductions you can get up to 19,500 rubles

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As the expert explained, the law has not yet been approved by the Federation Council and not signed by the President.

“After the signing, the changes will only take effect from the next personal income tax period. This means that the new amounts of deductions will be available from January 1, 2024 for expenses that were made in 2023, 2022 and 2021, – added Glazkov.

As for the deduction for children’s education, the expert noted that the maximum amount of spending for it will increase from 50 thousand to 110 thousand rubles.

“Now parents will be able to return 13% of the larger amount of actual spending on children’s education, that is, up to 14,300 rubles in the form of a deduction. Here are the requirements to get it: the child must be under 24 years old (if education is paid by guardian, then the ward must be under 18 years old), the form of education – full-time, the organization must have a license for educational activities. It can be a university, a private school, foreign language courses or preparation for exams and so on,” he stressed;

As for the social deductions, the maximum amount will increase from 120 thousand to 150 thousand rubles. That is, it will be possible to return 13% of the amount up to 150 thousand rubles or up to 19,500 rubles as a deduction, explained the interlocutor of .

“New social tax deductions will be available for the following expenses: their education – in organizations with a license for education, education of a brother or sister no older than 24 years in full-time form in organizations with a license for education, medical services – for themselves, spouse, parents, children under 18 years (or under 24 years if they are studying full-time), medicines for medical use, prescribed by the attending doctor”, – said the expert.

According to him, it is important to remember that the expenses in the social deduction are summed up.

“For example, if you spent Br50,000 on language courses for the child, Br20,000 on sports activities and Br50,000 on medical insurance, you will not get back 13% of each expenditure, but 13% of the total amount for the year,” – Glazkov said.

To qualify for tax deductions, you must be a tax resident of Russia, pay income tax of 13%, have the right documents for the tax and be able to confirm their expenses, the expert reminded.

“For example, checks or bank statements, an agreement with an educational organization or an excerpt from the Unified State Register of Taxpayers for a deduction for the purchase of housing would be suitable. To formalize the procedure, you need to file a 3-NDFL declaration. It is most convenient to do it through a personal account on the site of the Federal Tax Service”, – he concluded.

Earlier, expert Maxim Glazkov told in a conversation with what the digital ruble is and whether we should expect the mass introduction of the technology in 2023.

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