Part of the interest on your mortgage can be returned

17.05.2011 10:59
Articles about real estate | Part of the interest on your mortgage can be returned Mortgage interest can be included in the tax credit annually.

Such an opportunity is provided by the Tax Code of Ukraine. But to enroll in the tax credit can be part of the amount of interest paid on only one home mortgage loan, explains partner bar association Olitskaya Yatsenko, and partners, "Victor Yatsenko, says Money.

Related article: In October, the Ukrainians were 16.6 million USD for the purchase of housing

Coglasno § 175.4. Art. 175 of the Tax Code of Ukraine the right to inclusion in the tax rebate (institute, similar to the previously used concept of "tax credit") of the amount of interest on mortgage loans provided by the taxpayer on one mortgage for 10 consecutive calendar years commencing with the year in which an object for residential mortgage is acquired, or constructed object mortgages taken over by the payer and began to be used as a principal place of residence.

If the mortgage loan has a maturity of more than 10 calendar years, the right to inclusion of the amount of interest in the tax rebate on new home mortgage loan arises from the tax payer only after full repayment of principal and interest the previous mortgage loan.

That is, the law says is not the impossibility of entering into the tax credit / tax rebate of the amount of interest on the so-called "Mortgage" more than once (more than one reporting fiscal year), and the impossibility of entering into the composition of such a tax credit (tax credit) of the amount of interest on more than one mortgage loans.
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Content tags: Mortgages
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