Home loan tax deduction may be reduced in 2022
The cash loophole from the 1% home loan income tax deduction is about to be closed as the government looks to revise the percentage down next year.
13-year home loan tax deduction deadline is November 30
With the deadline to apply for the 13-year home loan income tax deduction coming this November, should buyers rush in to purchase or wait to see if it is extended? This scheme allows homebuyers to deduct a percentage of their home loan balance from their income taxes each year for 10 ~ 13 years (the 3-year extension is the one with the looming deadline).