What are the items that reduce personal income tax?

Individual income tax exemptions include:

1. Occupational losses: Chinese citizens who work abroad all year round can deduct occupational losses from their income and reduce or exempt individual income tax.

2. Education expenses: A certain proportion of education expenses can be deducted and individual income tax can be exempted.

3. Flexible Xiaochang employment: You can reduce the tax by 3,000 yuan within the specified period of flexible employment income.

4. Charitable donations: The amount of charitable donations can be deducted and individual income tax can be reduced.

5. Children's education: Children's education expenses can be deducted and individual income tax can be exempted.

6. Housing loan interest: The interest on housing loans for residents can be deducted and individual income tax can be exempted.

Individual income tax deductions include: basic deduction of expenses, special deductions, special additional deductions, other deductions and public welfare donations.

Among them, the special deduction includes the social insurance premiums such as basic endowment insurance, basic medical insurance, unemployment insurance and housing provident fund paid by residents in accordance with the scope and standards stipulated by the state. Special additional deductions include children's education, continuing education, housing loan interest or rent. Expenses such as rent, medical treatment for serious illnesses, and supporting the elderly.

Other deductions include individual payment of enterprise annuity and occupational annuity in line with national regulations, individual purchase of commercial health insurance in line with national regulations, tax-deferred commercial pension insurance and other expenses, as well as other items that can be deducted according to the regulations.

Individual Income Tax Law of the People's Republic of China

Article 6. Calculation of taxable income: (1) The comprehensive income of a resident individual shall be the taxable income after deducting 60,000 yuan of expenses and special deductions, special additional deductions and other deductions determined in accordance with the law from the income of each tax year.

2) The income from wages and salaries of non-resident individuals shall be the taxable income after deducting the monthly income of 5,000 yuan; Income from remuneration for labor services, author's remuneration and royalties shall be taxable income based on the amount of each income. (3) The balance of the total income of each tax year after deducting costs, expenses and losses shall be the taxable income. (4) Where the income from property lease does not exceed 4,000 yuan each time, 800 yuan shall be deducted from expenses; If the amount is more than 4,000 yuan, 20% of the expenses will be deducted, and the balance shall be the taxable income.

5) Income from the transfer of property shall be the taxable income after deducting the original value of the property and reasonable expenses from the income from the transfer of property. (6) Interest, dividends, bonus income and incidental income shall be regarded as taxable income by the amount of each income. Income from remuneration for labor services, author's remuneration and royalties shall be the balance of the income after deducting 20% of the expenses.

The amount of income derived from author's remuneration is reduced by 70%. Individuals who donate their income to public welfare charitable undertakings such as education, poverty alleviation, and poverty relief may deduct from their taxable income if the donation amount does not exceed 30% of the taxable income declared by the taxpayer; Where it is stipulated that donations to public welfare and charitable undertakings shall be deducted in full before tax, such provisions shall prevail. The special deductions provided for in Item 1 of the first paragraph of this Article include social insurance premiums such as basic endowment insurance, basic medical insurance, unemployment insurance, and housing provident fund paid by individual residents in accordance with the scope and standards prescribed by the state; Special additional deductions, including expenses for children's education, continuing education, serious illness medical treatment, housing loan interest or housing rent, and support for the elderly, shall be determined by the National People's Congress and reported to the Standing Committee of the National People's Congress for the record.

1. Bonuses. Prizes awarded by provincial-level ministries and commissions, military units at or above the military level, as well as foreign organizations and international organizations, in terms of science, education, technology, culture, health, sports, environmental protection, etc.;

2. Bond interest. interest on treasury bonds and financial bonds issued by the state;

3. Subsidy and allowance. ** special allowance issued in accordance with *** regulations and *** tax exemption subsidies and allowances;

4. Relief funds. According to the relevant provisions of the state, the personal living allowance paid from the retained welfare expenses or the labor union source funds; Relief payments and pensions paid to individuals by the civil affairs authorities;

5. Insurance indemnity. insurance benefits paid by insurance companies;

6. Demobilization allowance for transfer to other jobs. the transfer fee of military personnel and the fee for reinstatement;

7. Settling-in allowance and retirement expenses. Settling-in allowance, retirement pay, retirement salary, retirement salary, and retirement living allowance paid to cadres and employees in accordance with regulations;

8. Income of diplomats. The income of diplomatic representatives, consular officials and other personnel of embassies and consulates in China who are exempt from tax in accordance with the relevant laws and regulations of China;

9. Tax-exempt income from the agreement. Income exempted from tax as stipulated in international conventions and agreements signed by China**;

10. Other income. Tax-exempt income approved by the Ministry of Finance.

Legal basisArticle 5 of the Individual Income Tax Law of the People's Republic of China.

In any of the following circumstances, individual income tax may be reduced, and the specific range and time limit shall be prescribed by the people of the province, autonomous region and municipality directly under the Central Government, and shall be reported to the Standing Committee of the People's Congress at the same level for the record:

1) Income of the disabled, orphaned and elderly persons and martyrs' families;

2) Suffering major losses due to natural disasters. Other circumstances for tax reduction may be prescribed and reported to the Standing Committee of the National People's Congress for the record.

1. Exemption and exemption for children's education:

1. The monthly expenditure of education fees paid by children studying in Hongchao School will be reduced by 2,000 yuan per month;

2. The monthly expenditure of accommodation fees paid by children studying in school will be reduced by 1,000 yuan per month;

3. The monthly expenditure of books paid by children for school study shall be reduced by 500 yuan per month.

2. Exemption and exemption of continuing education:

The amount of continuing education fee reduction paid shall not exceed 10,000 yuan.

3. Housing loan interest and rent reduction:

The amount of interest and rent reduction for housing loans shall not exceed 12,000 yuan.

4. Medical exemption for serious illnesses:

The amount of medical expenses for serious illness paid shall not exceed 10,000 yuan.

5. Exemption and exemption for supporting the elderly

The monthly fee reduction for supporting the elderly does not exceed 5,000 yuan.

1.Reduction and exemption of payment of five insurances and one housing fund: According to national regulations, all or part of the payment of basic endowment insurance, unemployment insurance, work-related injury insurance, maternity insurance and housing provident fund can be reduced or exempted from the individual income tax.

2.Exemption and exemption of education expenses: Education expenses paid by family expenses can be reduced or exempted from individual income tax in accordance with national regulations.

3.Housing loan interest reduction: The housing loan interest paid for household expenses can be reduced or exempted from the individual income tax in accordance with national regulations.

4.Continuing education fee reduction: Continuing education expenses paid by family expenses can be reduced or exempted from individual income tax in accordance with national regulations.

5.Exemption and exemption of charitable donations: Charitable donations paid for household expenses can be reduced or exempted from individual income tax in accordance with national regulations.

6.Exemption and exemption of operating expenses: The operating expenses paid by the family can be reduced or exempted from the individual income tax in accordance with national regulations.