Since January 1, 2019, China has implemented a special additional deduction policy for individual income tax, including deductions for infant and child care expenses. In order to ensure that you can correctly enjoy this preferential tax policy, this article will introduce in detail how to fill in the deduction ratio for infants and young children with special additional deductions.
1. Understand the deduction policy for infant and child care expenses
According to the Interim Measures for Special Additional Deductions for Individual Income Tax, taxpayers' expenses for taking care of infants and young children can be deducted according to a certain proportion when calculating the taxable income. The specific deduction criteria are as follows:
1.For the expenses of taxpayers taking care of infants and young children, the annual deduction standard for each child is 120,000 yuan.
2.Taxpayers can choose to have the deduction deducted separately by both spouses or by one spouse in full.
2. Fill in the deduction ratio for infants and young children
When filling in the deduction ratio for infants and young children with special additional deductions, you need to pay attention to the following points:
1.Eligibility: Taxpayers who are only taking care of infants and young children. The age of the child must be under 3 years old, and the taxpayer needs to provide the child's birth certificate and other relevant materials.
2.Deduction ratio: Determine the deduction ratio of infant and child care expenses according to the income of both husband and wife and the distribution of care responsibilities. The deduction must be a whole number and not exceed 100%.
3.Deduction method: You can choose to deduct it separately by both husband and wife, or you can choose to deduct it in full by one party. If you choose to deduct separately, you need to ensure that the sum of the deduction ratios of both parties is equal to 100%.
Taking the separate deduction of both husband and wife as an example, the operation steps of filling in the deduction ratio for infants and young children are introduced
1.Determine the total amount of child care expenses: According to the actual situation, determine the total amount of child care expenses as the base for deduction.
2.Determine the income ratio of the husband and wife: The income ratio of the husband and wife is determined according to the income of the husband and wife. For example, if the husband and wife have an income of 80,000 yuan and 120,000 yuan respectively, then the income ratio is 40% and 60% respectively.
3.Determine the deduction ratio: Determine the deduction ratio of child care expenses according to the income ratio of both husband and wife. In this example, the deductions are 40% and 60%, respectively.
4.Fill in the declaration form: In the individual income tax special additional deduction return, fill in the total amount of child care expenses, the income ratio of the husband and wife and the deduction ratio.
5.Submission of Declaration: Submit the completed declaration form to the tax authority for review.
The special additional deduction for infants and young children needs to be filled in according to the actual situation. Hopefully, this article will help you understand the deduction policy for infant and child care expenses, and correctly fill in the deduction ratio for infants and young children with special additional deductions, so as to enjoy the preferential tax policies.