Refundable: a new tax deduction system will come into effect in 2025

Russians, whose income falls under the increased rate of personal income tax, can claim an increased tax deduction for the purchase of real estate in the mortgage, said the head of the State Duma Committee on Property Sergei Gavrilov. Who can claim a deduction of 1.1 million rubles, whether this mechanism will become popular and how it will affect the filling of the state budget - read in the material "Izvestia".

As the media reported earlier, this is one of the relaxations introduced during the transition to a multi-stage progressive taxation scale. The deduction will be calculated based on the actual rate paid, rather than the standard rate of 13%. That is, those who paid more personal income tax will be able to return more if they buy real estate in a mortgage. Thus, the amount of deduction in rubles should be equal to 260 thousand rubles at the rate of 13% and 440 thousand rubles - at the rate of 22%.

The Ministry of Finance of the Russian Federation and the Ministry of Economic Development did not respond to the requests of "Izvestia" by the time of publication of the material.

System balance

Changes in the tax system are due to the need to link the new progressive income taxation scale with the procedure for granting tax deductions, the rights to which arise for citizens when investing in the construction or purchase of real estate.

The general idea is as follows: if the state obliges citizens with high incomes to give more to the budget, it is fair that when providing them with support through the tax system, the volume of such support also increased, argues Vladimir Gromov, senior researcher at the Tax Policy Research Laboratory of the IPEI Presidential Academy.

- On this basis, the amount of funds to be returned from the budget depends on the size of the tax rate, taking into account the fact that property deductions are very popular among the population. Thus, deductions in the amount of money spent on housing in 2022 were used by about 4 million people, and in the amount of mortgage interest - 1.6 million people, - he says.

Not a heavy burden

As previously estimated by Finance Minister Anton Siluanov, the increased personal income tax rates should affect only about 3% of working Russians. According to estimates of the Ministry of Finance, additional revenues of about 533 billion rubles are expected from the reform of personal income tax in 2025. Up to 2030 inclusive, the total amount, taking into account changes in the parameters of standard tax deductions, will amount to about 3.1 trillion rubles.

The increase in the tax burden on taxpayers is reflected in the larger amount of their compensation for tax deductions when buying real estate and mortgage interest, comments Olga Belenkaya, head of macroeconomic analysis at FG Finam.

- It is obvious that additional revenues to the budget from increased personal income tax rates will be greater than the tax deduction refund. The popularity of this measure is limited to a fairly narrow layer of citizens with higher incomes, and tax rates accordingly," she believes.

According to Vladimir Gromov, from the point of view of the budget system, the growth of the deduction is always an additional tax expense, but in this case it is hardly heavy.

- First, it is already known that the increased personal income tax rates affect about 2 million people. Secondly, the current rules prevent the transformation of property deductions into a privilege of rich citizens: the right to reduce taxable income for expenses related to the construction or purchase of housing is given once, and deduct mortgage interest is allowed only in respect of one property, - he added.

Is it necessary?

The opportunity to get an increased tax deduction will be in high demand, experts interviewed agree.

- It will allow taxpayers who fall under this norm, which is 3% of working citizens, to save at least a little from the increased tax burden and high interest on mortgages, - points out Olga Belenkaya.

Raising the tax limit can be seen as a measure to support the construction industry, believes Deputy Director of the Bank Institute of Development Julia Makarenko.

- Now the real estate market is cooling: the volume of issuance [of mortgages] fell by 71% for the year in January 2025. At the same time, the cost of housing, which is dictated by the market, is almost unaffordable - 150-170 thousand rubles per square meter. The indexed matkapital is an insignificant help. The situation is aggravated by the statistics on the volume of unsold housing - the developers have 76.9 million square meters on their books by the end of 2024. The houses built during the period of the preferential mortgage are idle," the expert outlines the situation.

According to the financier, even a very high key rate is not the main reason for sluggishness in the housing market. "With the introduction of macroprudential limits banks began to refuse a few willing in about half of cases. And last October, 8 out of 10 people who applied received refusals," she says.

Support the mortgage market seems logical and in connection with the growing popularity of installments as an alternative to mortgage.

- The share of such transactions now exceeds a third, but it is the mortgage - the driver of stability of many banks, and the increase in limits on the tax deduction may be an argument in favor of the mortgage, as it is on this product is distributed benefit, - added Julia Makarenko.

According to her, the new measure will positively affect the mortgage market and the situation in the construction market too. Developers, according to Julia Makarenko, are now in a rather difficult situation and some not very large companies are threatened with bankruptcy.

- The amount of new housing is directly proportional to what is still under construction. At the same time, the costs of construction, building materials, even finishing materials have increased significantly. And the mortgage market, of course, has sagged. Now any measures to support the mortgage market can support construction companies and stabilize the market, - summed up Yulia Makarenko.