Q：
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What are the individual income tax benefits for individual investors who receive interest income from holding railway bonds?
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A：
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The interest income obtained from individual investors holding railway bonds issued from 2019 to 2027 shall be reduced by 50% and included in the taxable income for individual income tax calculation. The tax is withheld and paid by the redemption institution during the redemption of interest to individual investors.
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Q：
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Can parents deduct their children's education during the period of preparing for post-graduate school after graduating from undergraduate studies?
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A：
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No, it's not possible. The student has already graduated with a bachelor's degree and has not yet obtained post-graduate status. They have not actually participated in full-time academic education during the post-graduate stage, which does not comply with the relevant provisions of the Interim Measures for Special Additional Deductions of Individual Income Tax.
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Q：
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Which competent tax authority should a taxpayer apply for a tax refund when enjoying the policy of individual income tax refund for residents purchasing house?
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A：
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According to policy regulations, taxpayers who enjoy the policy of refunding individual income tax on the purchase of house by residents should apply to the competent tax authority which has collected individual income tax on the income from transferring current housing.
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Q：
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Do I still need to prepay individual income tax for issuing transportation invoices on behalf of others?
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A：
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Individual business, sole proprietorships, partnership enterprises, and individuals who issue value-added tax invoices for cargo transportation will no longer be subject to individual income tax in advance. Individual business owners, sole proprietorship investors, individual partners of partnership enterprises, and other individuals engaged in cargo transportation business activities shall declare and pay individual income tax on their business income in accordance with the law.
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Q：
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How to calculate the individual income tax refund amount when selling jointly owned housing by both spouses and registering the newly purchased housing in one party's name, or when one party sells one’s personal owned housing and both spouses jointly purchase new housing?
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A：
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Both spouses can calculate the amount of tax refunds based on the total amount of property rights, or they can calculate the amount of tax refunds separately based on their respective shares of property rights. It should be noted that when taxpayers apply for tax refunds, in addition to providing the information stipulated in the Announcement of the State Administration of Taxation on Relevant Collection and Management Matters of Individual income tax Policies Supporting Residents to Purchase Housing, both parties should also provide their identity documents and marriage certificates.
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FAQ
