What Tax Benefits Do Large Families Have

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What Tax Benefits Do Large Families Have
What Tax Benefits Do Large Families Have

Video: What Tax Benefits Do Large Families Have

Video: What Tax Benefits Do Large Families Have
Video: 8 Ways Your family can help Save Tax | Family Route to Save Tax | Tax Saving Tips by Yadnya 2024, December
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The number of large families in Russia is increasing every year. Not exponentially, but still growing. And those who are included in the category of large families have a number of questions about what they can count on and be entitled to. So, for example, many of them are interested in the question: are there any tax benefits for parents raising more than 3 children.

What tax benefits do large families have
What tax benefits do large families have

The issue of tax benefits for large families is very acute. After all, when it comes to taxes, this does not mean at all that large families are entrepreneurs. They may be interested in, for example, tax on transport, housing, etc. How much you can knock off, especially if the family is young and every penny counts, when paying taxes, is calculated on a case-by-case basis. But it is imperative to submit an application, because it is too expensive for a large family to pay 100% of all bills.

The state strongly supports those who are correcting the demographic situation in Russia. Therefore, large families are offered a number of benefits and indulgences, incl. and in the tax area, which can significantly undermine the family budget.

What tax benefits can large families count on?

The law provides for a number of benefits that allow families with many children not to lose most of their budget to pay mandatory payments. So, for example, with regard to the capital, one of the parents in a large family is exempted from paying tax for a car registered for him. In order to exercise your right to receive this benefit, you must write an application to your tax office and attach the vehicle registration certificate to it.

Also, large families can count on indulgences in the payment of land tax. According to article 31 of the Tax Code of the Russian Federation, an additional 1 million rubles is deducted from the value of a plot of land that is taxed. In fact, this means that the family is completely exempt from paying tax.

This kind of privilege is provided to those large families who have a land plot in ownership or for an indefinite use, as well as in inherited life possession.

To receive a benefit, you need to submit an application to the tax department, as well as attach a document that confirms the rights to the land plot.

Another tax benefit is the parent's tax deduction. Since 2011, the size of the standard deductions for personal income tax has been increased for those who have children. A tax deduction is the amount of income that is not taxable. The new tax deductions involve a payment of 3,000 rubles. for every third and subsequent child.

To draw up such a deduction, you need to submit an application to the accounting department at the main place of work and attach a number of documents to it that confirm the right to receive a deduction.

Nuances

Before applying for a particular tax benefit, be sure to consult with a lawyer or tax officer (this can be done by calling the social security or tax office at your place of residence). This is due to the fact that not all benefits can be received immediately after you purchase the crust of parents with many children. Some benefits are credited after a certain time.

In addition, check in advance if anything has changed in the legislation, incl. and a list of required documents. After all, it will be a shame if you have to walk several times.

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