Reduce the Revenue by Have a House
"The house is the important part that fulfills your life. But to purchase a house, you must have a big lump sum or if you don’t have lump sum and request loan from bank, you will have the biggest expense in each month and have a long term effect. The house is the important part that fulfills your life. But to purchase a house, you must have a big lump sum or if you don’t have lump sum and request loan from bank, you will have the biggest expense in each month and have a long term effect. So, you have to think carefully before deciding to purchase. Some wait until they are “Ready” to purchase that make them lose some chance unfortunately."Because house is the huge thing that coming with burden, government has the policy to lighten the load in installment to citizen by reduce the income tax by revenue department give a right to take the loan interest to use in tax reduction as follow Borrow alone Person who has income can take interest on installment to reduce the tax according to actually paid not over 100,000 baht/year. Married couple borrows together This case will be different because married couple will file the tax together that make the criteria in tax reduction different from other. Married couple borrows together by only one has income For example, husband has routine work but wife is a housewife or has a work that income not reached criteria. Husband is only one who can request the tax reduction according to actually paid not over 100,000 baht. People who have a right to reduce the tax already married to each other later It means each person pay installment for house already and married to each other and buy another house together. Tax reduction will be as follow. If the marriage is not remain throughout the tax year that reduction requested that means divorced before end of the year that have to pay tax. Each can reduce the tax according to actually paid not over 100,000 baht for both houses. If the marriage is remain throughout the tax year that reduction requested requested and wife doesn’t use the right to file the tax alone Still in marriage throughout of the tax year and file the income tax together, able to reduce total not over 100,000 baht. If the marriage is remain throughout the tax year that reduction requested and wife use the right to file the tax alone Husband and wife each can reduce the tax in half of actually paid but combined not over 100,000 baht. Request for tax reduction in the case of co borrowing, the amount of reduced tax depends on the way to file the tax that file together or each file their own. If before marry, each has a burden in installment for house already, the right to reduce the tax will reduce from previous that is total not over 100,000 baht. The right to request for tax reduction from housing purchasing cover only the purchasing by borrows from bank because it is to take interest that paid to bank to use in tax reduction. So, purchasing the house with cash doesn’t has burden about interest and lose this right. But if you able to buy with cash but want to reduce the tax and purchase the house by pay installment, it is not good choice because interest that you pay to bank might be not worthy when compared to tax reduced 100,000 baht in each year. You should consider about worthiness before decide. Choosing the way to use the money in housing investment, you must think carefully and wisely.
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