Russian citizens who have bought housing can receive a certain amount from the state in the form of compensation. It is about 260 thousand rubles and can be received by a person only once.
Citizens of the Russian Federation who pay income tax have the right to receive this amount. If real estate is purchased by a citizen in his own name or for a child who has not reached the age of majority, the state partially refunds the tax amount back.
How to get money from the state when buying real estate
As for the amount that can be returned to yourself, it is 13% of the price of the purchased housing, but it is calculated from no more than 2 million rubles. The maximum is 26 thousand rubles. If the housing has a high value, then the income tax refund will be made from the amount of 2 million. If the value is less, the refund is calculated from it. At the same time, a person retains the right, in the event of buying the next real estate, to re-apply for compensation from taxes paid.
How to get money back from a mortgage loan
When buying a home using a mortgage, you can get back not only 13% of the price, but also the same share of the interest paid on the mortgage loan. That is, in this case, you have the opportunity to return yourself an amount exceeding 260 thousand rubles. There is also a limitation here - the amount from which interest is calculated cannot be more than three million rubles.
If you want to get a deduction, you need to understand some points. At the end of one year, you will not be able to get more money than you paid taxes. At the same time, you retain the right to receive the balance for the next year. In practice, it looks something like this.
For the year, 13% of your salary was deducted from you, which totaled, for example, 13,000 rubles. This is exactly how much you will be able to return to yourself after summing up the results of the past year.
260,000 - 13,000 = 247,000 rubles
247,000 is the amount that you still have the right to receive in connection with the purchase of real estate. If the taxes withheld from you for the year do not allow you to return the entire amount at once, you can apply for its return for the next year and so on, until payments in your favor total 260,000 rubles.
Where to go to get money
To make a payment, you will need to submit documents to the tax authority at the place of your registration. This can be done after the ownership of the purchase has been formalized. If you buy an apartment in a building under construction, you will need to provide a signed acceptance certificate.
