When is the right to a tax deduction when buying an apartment

The purchase of housing is associated with large monetary costs. Buying an apartment affects the family budget and can cause financial difficulties. The state took care of its citizens and thought out a system for returning part of the money for those who purchased housing. Taking advantage of the right to a tax deduction when buying an apartment, the owner of the apartment can partially compensate for their expenses.

Property tax deduction

Income tax (personal income tax) is paid on all types of earnings of an individual. A tax deduction is an amount that is deducted from the tax base.

In this case, personal income tax is no longer paid from all earnings, but only from the difference between income and deduction.

Income tax is paid during the entire period of the employee's activity, that is, by the time the apartment is purchased, it is already paid. Making a property tax deduction helps to return the amount of tax already paid from the budget.

Those who work officially and pay income tax at the rate of 13% have the right to deduct tax when buying an apartment. Non-working citizens cannot use this right.

When is the right to a tax deduction when buying an apartment

The terms of use of the property deduction are prescribed in the Tax Code of the Russian Federation. According to the provision of the code, you can start using the deduction from the moment when the right to it arises. The term of the right depends on how the apartment is purchased: on the primary or secondary market.

Purchase of housing in a building under construction

If the apartment is purchased on the basis of a contract of participation in shared construction, the right to deduction comes from the moment when the Act of acceptance and transfer of the apartment is signed. At the same time, there is no need to wait for the receipt of the certificate of registration of ownership of the apartment, which is issued later.

The presence of the Act of acceptance and transfer is a sufficient condition for the start of registration of the deduction.

Buying a home on the secondary market

If the apartment is purchased under a contract of sale on the market of ready-made housing, the right to property deduction from the owner appears only from the moment of receipt of the certificate of ownership of the apartment. In this case, the dates of the contract of sale and the signing of the Act of Acceptance and Transfer do not matter. The owner must obtain an extract from the Unified State Register of Real Estate and then apply to the tax inspectorate for a refund.