The special additional deduction standard for individual income tax of "one old and one young" has been raised! All the hot issues you care about are here

Recently, the State Council issued a notice raising the three special additional deduction standards for individual income tax on "one old and one young".

Since January 1 of this year, the special additional deduction standard for the care and education of children under 3 years old has been raised from the current 1000 yuan per month per child to 2000 yuan per month. That is to say, every child's parents can deduct 2000 yuan before tax every month from birth to completion of academic education. The special additional deduction standard for supporting the elderly has been raised from 2000 yuan to 3000 yuan per month. Among them, only children are deducted according to the standard quota of 3000 yuan per month, and non only children and siblings share the deduction amount of 3000 yuan per month.

Individual income tax special additional deduction policy

Reduce personal tax burden

The special additional deduction of individual income tax refers to the seven special additional deductions for children's education, continuing education, serious illness medical treatment, housing loan interest, housing rent and supporting the elderly, infant care, etc. as stipulated in the Individual Income Tax Law. The increased special additional deduction standard of "one old and one young" individual income tax is three of them. So, how well do people understand the policy aimed at reducing the burden on the masses? Let's look at the interview.

In the interview, the reporter found that many people understand the special additional deduction policy of individual income tax, and many people are also benefiting. Especially this time, the country further improved the special additional deduction standard of "one old and one young", which was widely welcomed.

No need to fill in again

Let taxpayers enjoy the new policy with ease and effort

After the adjustment of the special additional deduction standard of "one old and one small", how can the general public enjoy the dividend of the new tax reduction policy? What are the precautions? Let's see the answers from the tax department.

If you have a child in your family, or one of your parents is over 60 years old and has not yet filled in the "one old and one young" deduction, you can enjoy it after filling in the special additional deduction information on the mobile personal income tax app or through the employer.

It is understood that many taxpayers are concerned about whether it is necessary to report again if they have already reported that they enjoy the deduction of "one old and one young" according to the original standard? The tax department reminds that if the taxpayer has filled in the special additional deduction information according to the original standard, the information system will automatically calculate the individual income tax payable according to the new standard from September, and there is no need to fill in again.

So, how can I enjoy the deduction of "one old and one young" according to the improved standard after the original standard has been filled in?

Li Zongping, Director of Agricultural and Forestry Taxation Branch of Handan District Taxation Bureau of the State Administration of Taxation, said that the information system will automatically enjoy deduction according to the new standard when declaring in September. If the tax has been paid before, it will be deducted in the following months. If the tax deduction is not completed by December, the tax refund will be enjoyed when the comprehensive income is settled in 2023.

It is reported that in the recent feedback received by the tax department, there are still some taxpayers who have doubts about who the "elderly" in the special additional deduction policy for supporting the elderly refers to.

Li Hongyu, Deputy Chief of the Income Tax Section of Changchun Nanguan District Taxation Bureau of the State Administration of Taxation: The "elderly" in the special additional deduction for supporting the elderly, that is, the dependents, refers to parents over 60 years old, or grandparents over 60 years old whose children have all died.

At the same time, the tax department launched the implementation measures at the first time, upgraded the collection and management information system in a timely manner, and accurately pushed the three completed deductions to taxpayers through the personal income tax client to ensure that taxpayers can enjoy deductions in a timely manner according to the new standards.

Strong pertinence

Alleviate the economic pressure of families with "senior citizens and junior citizens"

At present, China has a large number of people who are "old and young". Improving the special additional deduction standard of "one old and one small" is conducive to reducing the burden of family childbearing and supporting the elderly, and better ensuring and improving people's livelihood. So how much money can this policy save people?

Ms. Gao told reporters that she has been paying close attention to the national tax and fee reduction policies. After the release of the "one old and one young" policy, she saw the news and immediately calculated how much money could be saved this time.

By enjoying the new standard of deduction of three special personal tax surcharges, namely, infant care, children's education and support for the elderly, Ms. Gao has an annual income of 84000 yuan without paying taxes. It is understood that Ms. Gao's annual income is about 200000 yuan, which is applicable to the 10% personal income tax rate. Previously, the special additional deduction of "one old and one young" can reduce the tax by 4800 yuan every year, but after the standard is raised this time, it can reduce the tax by 8400 yuan every year, which means 3600 yuan less tax each year.

Expert: increase residents' disposable income and improve consumption capacity

Experts said that the three special additional deductions are directly related to "one old and one young". Improving the relevant special additional deduction standards is conducive to further reducing the burden of family support, better ensuring and improving people's livelihood, and also to improving residents' willingness and ability to consume.

Experts said that the biggest significance of raising the special deduction standard of "one old and one small" individual income tax is to increase the disposable income of ordinary people. We will expand consumption by increasing residents' income, so as to play the fundamental role of consumption in stimulating economic growth.

Zhu Qing, a professor at the School of Finance of Renmin University of China, said that people of this age, "there are old people and young people", are under great economic pressure to support their parents and take care of their children. If their pre tax deduction standard can be improved, their disposable income will be greatly increased and their consumption capacity will be increased, which is beneficial to the overall expansion of domestic demand and the improvement of consumption level of the country.

It is understood that since 2018, China has set up seven special additional deductions in terms of personal income tax, focusing on key expenditure areas such as education, upbringing, housing, medical care, and old-age care, which are closely related to the lives of the people. On the basis of the basic deduction standard of 5000 yuan per month, they are superimposed to deduct, taking into account the different burdens and expenses of families, Make the personal income tax system more scientific and reasonable.

Zhu Qing, a professor at the School of Finance of Renmin University of China, said that our current personal income tax is actually personalized, so our current pre tax deduction of personal income tax has formed a relatively complete system, which not only takes care of the economic burden of taxpayers, but also reflects the country's social and economic policies.

key word: special additional standard individual income tax