The deadline for applying for a property deduction for first-time homebuyers has been extended

The Supreme Council of the Pridnestrovian Moldavian Republic adopted amendments to the law on personal income tax in the final reading at the plenary session today.

That is, now citizens who first purchased or built an apartment or house will be able to apply for a property tax deduction within 3 tax periods. The initiative arose due to the fact that in practice often people did not know about their rights or did not have time to apply to the tax inspectorates. There will be more time to submit documents now.

The amount of the property deduction: for all categories of taxpayers – 10 thousand of minimum wages (104 thousand rubles), for large families – 30 thousand of minimum wages (312 thousand rubles) and 34 thousand of minimum wages (353 thousand 600 rubles) – for young families within 5 years after marriage. That is, a person may not pay income tax on this amount.

The property tax deduction is provided only at the place of the main work. This property deduction for those who do not have a permanent job is provided based on the results of declaring income received in any of the 3 (three) consecutive tax periods, starting from the tax period in which the property was purchased.

Amendments to the law "On income tax from individuals" will come into force after signing by the President of the Pridnestrovian Moldavian Republic. Those Pridnestrovians who first purchased real estate, and from that moment three calendar years (tax periods) have not yet passed, will be able to use the right to a property deduction from that moment on.