Forecast: personal income tax benefits for mortgage borrowers are going to be extended

Income in the form of material benefits from savings on interest on a loan issued before December 31, 2024 inclusive, will be exempt from personal income tax if the taxpayer has the right to a property tax deduction, the draft law says. According to the document cited by the agency, we are talking about loans for the purchase or construction of new housing or the acquisition of land for individual housing construction.

Let us remind you that in 2024, the exemption from personal income tax was canceled for the benefit of saving on interest on certain types of lending: interest-free loans or loans with a rate of less than 2/3 of the key rate of the Central Bank. In addition, the exceptions that fall under preferential personal income tax when receiving income in the form of material benefits have been adjusted. The rule allowing people who have the right to a property tax deduction when buying a home not to pay personal income tax on the amount saved on interest has been abolished.

source: CYANOGEN