The State Council recently issued a notice to increase the special additional deduction standards for personal income tax on the care of infants and young children under the age of 3, children's education, and support for the elderly (hereinafter referred to as "one elderly and one young" deduction "). It is understood that since 2018, China has established seven special additional deductions for personal income tax, including care for infants and young children under 3 years old, education for children, continuing education, medical treatment for serious illnesses, housing loan interest, housing rent, and supporting the elderly, focusing on key expenditure areas such as education, upbringing, housing, medical care, and elderly care. These deductions are based on the basic monthly deduction standard of 5000 yuan, and are then superimposed and deducted, Taking into account the differential burden and expenditure of families, making the personal income tax system more scientific and reasonable. What is the standard after deducting the increased amount of "one old and one young" this time? According to the notice, starting from January 1, 2023, the special additional deduction standard for the care of infants and young children under 3 years old will be increased from 1000 yuan per month to 2000 yuan per infant; The standard for special additional deductions for children's education has been increased from 1000 yuan per month to 2000 yuan per child. That is to say, for each child from birth to completion of their academic education, their parents can deduct 2000 yuan per month before tax and 24000 yuan per year. These deductions can be enjoyed by both parents separately or by one of them. At the same time, the special additional deduction standard for supporting the elderly has been raised from 2000 yuan to 3000 yuan per month, of which the only child shall be deducted according to the standard quota of 3000 yuan per month, and the non only child and brother sisters shall share the deduction amount of 3000 yuan per month, and the amount shared by each person shall not exceed 1500 yuan per month. How should taxpayers enjoy the "one old and one small" deduction if they have not yet filled it out? The relevant person in charge of the State Administration of Taxation introduced that such taxpayers can enjoy the special additional deduction information through the mobile personal income tax app or through the employment unit. Starting from the tax declaration period in September, taxpayers can be deducted by the employing unit according to the new standards after the increase, or they can be declared and deducted according to the new standards when processing the 2023 personal income tax settlement and payment. Do you need to resubmit relevant information for those who have already reported enjoying the deduction of "one old and one young"? It is reported that taxpayers who have already reported enjoying the "one old and one small" deduction do not need to fill in the form again. The system will automatically calculate the personal income tax payable according to the increased special additional deduction standard. Taxpayers who make adjustments to the agreed or designated allocation of special additional deductions for elderly care can fill in the new allocation amount on the mobile personal income tax app or through the withholding agent. In addition, prior to the issuance of the notice, taxpayers who had already reported and enjoyed the "one old and one small" deduction for 2023 according to the original standard will be subject to the increased special additional deduction standard for personal income tax from September onwards. Any overpaid tax can be automatically deducted from the tax payable for subsequent months of the current year. If the deduction cannot be completed, they can continue to enjoy it when processing the comprehensive income settlement and payment for 2023. (New News Agency)
Edit：GuoGuo Responsible editor：FangZhiYou
Source：people.cn
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