What Is a Leasehold Estate?

Property leasing income refers to income obtained by individuals leasing buildings, land use rights, machinery and equipment, vehicles and other properties.

Income from property lease

Right!

Property lease income refers to individuals renting buildings,

Property lease income refers to individuals renting buildings,

When determining the taxable income of a property lease, the tax and education surcharges paid by the taxpayer in the process of leasing the property can be deducted from their property lease income with a tax payment (payment) certificate. In addition to the prescribed fees and related taxes and fees, the allowable deductions are also allowed to deduct repair expenses that can provide valid and accurate proof that the taxpayer will bear the actual expenses of the leased property. The allowable deduction for repairs is limited to 800 yuan each time. If the deduction cannot be completed in one time, the deduction may be continued in the next time until the deduction is completed.

The income from property leases obtained by individuals leasing property shall be deducted in order when calculating personal income tax:

1.Taxes and fees paid during the lease of property;

2. The actual expenses for repairing the leased property paid by the taxpayer (up to 800 yuan / month);

3. Tax deduction standards prescribed by tax law.

The formula for calculating taxable income is:

If the income per month (month) does not exceed 4,000 yuan:

Taxable income = each time (monthly) income is allowed to deduct items-repair costs-800 yuan

If the income per month (month) exceeds 4,000 yuan:

Taxable income = [Amount of each (monthly) income-Allowable deductions-Repair costs] × (1--20%)

Note: The income from property lease is based on the income obtained within one month.