How to return 13 percent of a car purchase on credit: the main options and ways to save

In the article, we will consider how to return 13 percent of the purchase of a car.

You cannot apply for a tax deduction for the purchase of a car purchased on credit. The only benefit that is possible in this case is the receipt of funds in debt intended for the purchase of a car under the state program. The law does not provide for tax refunds, since deductions to the state budget, if a credit car is purchased, are not made. You can only receive a deduction when selling a vehicle.

And still people are interested in: “Can you return 13 percent when buying a car?”

Income tax

All citizens of the Russian Federation are required to pay income tax to the budget, which is 13% of income. In certain situations, the state may provide benefits that allow a citizen to return a certain amount of money back. As a rule, deductions are used when paying for treatment, purchasing real estate, voluntary pension insurance, making money as tuition fees. The acquisition of a credit car raises certain questions. Using a lending service also entails high costs. It is believed that it is impossible to get back part of the money spent on a credit car.

Definition of tax deduction

We will figure out how to return 13 percent of the purchase of a car.

A tax deduction is understood to mean the amount by which the income of a citizen paying personal income tax is reduced. In some cases, it is allowed to refund the amount that was paid to the budget earlier. Currently, this is possible if a citizen has purchased real estate, paid for treatment or training. In fact, a tax deduction is a benefit provided in accordance with Article 217 of the Tax Code.

How to return 13 percent of a car purchase to a car loan? A person recognized as a tax resident who receives income taxed by personal income tax with a rate of 13% can use the privilege on the refund of part of the paid amount in Russia. There are several ways to get a tax deduction.

Consider ways to return 13 percent of a car’s purchase.

With a statement to the employer

A citizen has the right to apply to the employer with an appropriate statement. If a deduction is made for a child, it will be necessary to provide a birth certificate, documents that can confirm disability (if any), and papers that confirm the status of a single parent. When the exemption is granted for expenses incurred during the acquisition or construction of housing, all documents must be submitted to the tax authorities. The tax inspectorate will send a citizen's application for consideration, after which it will issue a specific notice, which will indicate the possibility of obtaining benefits, as well as the available amount of return. After receiving the notice, you must contact the employer. To receive a social deduction, it will be necessary to fill out and submit a declaration to which documents confirming the costs are attached.

It is important to collect all the necessary information in advance, how to return 13 percent of the purchase of a car.

Why is this for the state?

By providing tax incentives, the state encourages people to get formal employment. In addition, part of the funds is redirected to education, healthcare, and construction. There are deductions available for all working people who have children and have participated in some events. It is possible to receive money only if all the conditions established by law are met. Each type of tax deduction requires the preparation of a package of certain documents to be submitted to the tax.

Everyone wants to know how to return 13 percent of the purchase of a car.

The possibility of obtaining a tax deduction for the purchase of a credit car

The types of tax deductions, as well as the features of their provision are recorded in the 23rd chapter of the Tax Code. Buying a vehicle is not a reason to get a refund. The exemption does not apply to the purchase of a car for the following reasons:

1. In accordance with Article 220 of the Tax Code of the Russian Federation, a car does not belong to property, by purchasing which a citizen receives the right to a benefit. Previously, the issue of including a car in this list was not discussed.
2. The cost of most budget cars does not reach 650 thousand rubles. Receiving a part of the money in this case is not a significant help for a citizen. Only some citizens purchase vehicles worth more than a million rubles.
3. Only those persons who have paid the tax and regularly make other deductions in favor of the state budget are entitled to receive benefits. When buying a car, a citizen does not make any deductions to the budget. Thus, a deduction is not possible in this case.
4. Citizens mistakenly think that the deduction is part of the money paid for the acquired property. It is generally accepted that the transaction and its documentation allow you to receive part of the money from the state. This opinion is erroneous. A deduction is a decrease in a taxable base. That is, it will be necessary to pay personal income tax not from the whole amount, but from some part of it.

People often ask how to return 13 percent of a car purchase on credit at a car dealership. Let's figure it out.

Shopping for tax deduction

All available tax deductions are divided into three major categories:

1. Property
2. Social.
3. Standard.
   

Tax deductions from the standard category are provided to citizens by their direct employers. In this case, the employer acts as a tax agent. To get the benefit, you must prepare certain documents, draw up a statement and provide it to the employer. As a rule, a standard benefit for children is used. The amount of deduction depends on the number of children:

1. 1.4 thousand rubles for the first two children.
2. 3 thousand rubles for the third and every next child.
3. 12 thousand rubles for minor children with disabilities. If the child is a disabled person of the first or second group and studies full-time, then the benefit will be granted until his age reaches 24 years. Parents and adoptive parents can receive a deduction of 12 thousand rubles. Trustees and guardians may receive a deduction of 6 thousand rubles.

Standard tax deductions

There are also other tax deductions related to the standard category:

1. Disabled servicemen, invalids of the Second World War can expect to receive 3 thousand rubles.
2. People with disabilities 1, 2 groups, childhood - 500 rubles.
3. Participants of the Second World War - 500 rubles.
4. Heroes of the Russian Federation, USSR - 500 rubles.
5. Chernobyl - 3 thousand rubles.

Among social deductions are distinguished:

1. On drugs, treatment.
2. For voluntary insurance.
3. For funded pension.
4. For education.
5. For charity.

Property deduction can be obtained if operations such as:

1. Redemption of property intended for municipal, state needs.
2. Purchase of land for construction and housing.
3. Realization of property.
4. The acquisition of housing.

Obtaining a tax credit is not always possible. It is impossible to receive a deduction if funds of maternity capital, funds of the state budget, employer, other persons were involved, as well as if the transaction was concluded between persons dependent on each other.

Sale of property and tax benefits

You can count on the sale of property tax benefits. If the property was owned by a citizen 3-5 years or more, income should be declared and tax paid. The size of the tax deduction in this case is 130 thousand rubles (if a house, a room, a summer residence, a land plot, an apartment were sold).

There are also professional deductions. Self-employed citizens can get them. Such benefits can reduce the tax base by an amount equal to the confirmed income.

How to return 13 percent of a car purchase on credit?

Benefits when purchasing a credit car

You can get certain benefits only if the credit car was purchased in the framework of existing state programs, which is regulated by the Government Decree of July 7, 2017 No. 808. The benefit is available for people who buy a car for the first time with more than two children. If lending occurs under the state program, then the citizen acquires the right to receive a 10% discount, but this entails a certain restriction regarding the choice of vehicle. The cost of a car should not exceed 1,450 thousand rubles. Other benefits for the purchase of credit cars by the state are not provided.

We continue to consider how to return 13 percent of the purchase of a car and ways to save.

The nuances of tax deductions for the purchase of credit vehicles

The owner of a car can only count on a tax credit if he sells a vehicle. Therefore, it is recommended that a citizen be prepared for the subsequent sale of the car if it is planned to draw up a tax deduction. To exclude possible difficulties in design, it is recommended:

1. Keep the contract of sale under which the car was purchased and in which its value is indicated. It is desirable that the document be notarized.
2. During the time of owning a car, it is necessary to collect and save checks that confirm the waste of money to improve car performance. If in three years a citizen decides to sell a car at a cost less than in the contract confirming the sale, then the documents will allow him to receive a deduction.
3. The vehicle must be registered with a citizen who will subsequently act as a seller. If all the nuances are not met, you will not be able to receive a benefit in the future.

These are the main options for how to return 13 percent of the purchase of a car.

If the documents are not preserved, what should I do?

If the citizen did not have documentary evidence, then the process of processing the tax deduction will be very difficult. In this case, a tax return will be required. The document should be submitted to the IFTS at the place of registration. In case of untimely submission of the declaration, the citizen will have to pay a fine. The amount of the fine is one thousand rubles. If a car or other vehicle is sold for less than 250 thousand, the amount is not taxed. In other situations, a citizen has the right to apply for and receive a tax deduction.

We told how to return 13 percent of the purchase of a car.