SAT: This is how you can deduct taxes from a housing credit

The annual tax return is a few days away from completion, so the Tax Administration Service (SAT) recalled one of the benefits that taxpayers can obtain by applying a series of deductions, such as interest payments on a housing credit.

This is the tax deduction that can be achieved for interest paid on a home finance. Such disbursements will be considered as long as they have been made during 2021.

Although it will be important to note that this information will be provided by the financial institutions of the SAT.

Regarding interest, the tax authorities indicated that real interest corresponds to the difference between the annual rate of inflation, which until December last year was 7.36%, according to the National Institute of Geography and Statistics (Inegi).

To find out if you are eligible for personal deductions, the taxpayer will need to consult the invoices that have been issued and whose items have been classified as personal deductions for the Annual Return.

In that sense, there is a viewer to know if you have any.

How to do it?

*The interested party must enter the following link. Here

*Enter your password and e.signature.

In addition, taxpayers will also have the option to access other personal deductions, to achieve a balance in favor.

What are they?

*Education

According to the SAT, tuition fees in private educational institutions with official validity of studies can be deducted. Although for this, certain expenses must be paid annually in the following amounts.

-Preschool: 14,200 pesos.

-Primary: 12,900 pesos.

-Secondary: 19,900 pesos.

-Professional technical: 17.100 pesos.

-Baccalaureate or its equivalent: 24,500 pesos.

In addition, for them to be valid they will have to have the corresponding proof of payment. Registration or re-enrollment fees cannot be deductible and school transportation is allowed only if compulsory.

When payments are made in the same fiscal year, by the same person, for education services corresponding to two levels of education, the annual deduction limit that can be reduced by the person concerned is that which corresponds to the higher of the two levels, regardless of whether it is the level that ended or the one that started.

*Health

For health, some other deductions are also included such as:

-Medical, dental and professional services fees in the field of psychology and nutrition.

These are deductible when they are provided by persons with professional qualifications legally issued and registered by the competent educational authorities.

-Hospital expenses and medicines included in hospital bills. Pharmacy vouchers do not come from.

-Fees to nurses.

-Analysis, clinical studies.

-Purchase or rental of devices for the restoration or rehabilitation of the patient.

-Prosthesis.

-Purchase of graduated optical lenses to correct visual effects.

-Premiums for insurance of medical expenses, complementary or independent of health services provided by public social security institutions.

In the case of health expenses, they will be applicable when they have been incurred for you, your spouse or partner, your parents, grandparents, children and grandchildren.

*Other

Among the overhead expenses that a person can deduct are also some such as:

-Funeral expenses, which may be considered with a bill in hand and from close people such as: parents, children, grandparents, grandchildren, spouse or concubine.

-Actual interest earned and actually paid on mortgage loans, which are destined to your home, contracted with the financial system of Infonavit or ISSSTE.

-Contributions to your retirement fund manager (Afore).

The return process can be achieved annually when filing the return, which is carried out in person or through the web.

On this occasion, individuals will be able to carry out the declaration process until April 30. While legal entities (companies) have until March 31 to achieve this.

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