Jump to content

Tax Allowance On Interest Of House Loan


Recommended Posts

I have recently learnt that it is possible to save tax on your income if you are paying off a mortgage every month.

My question is has anyone ever done this and if so what papers did you need?

Let me explain....

In order to try and stimulate the housing / condo market the govt. is allowing incentives in tax deductions to home owners

My situation is my Thai wife and I bought our house 3 years ago.

We got a house loan through the bank.

We pay every month to the bank.

Meanwhile I work here in Thailand and have been paying tax into the thai tax system for years.

I pay tax up to the 30% tax bracket.

The tax office allows certain 'allowances' to be deducted from your gross salary before they calculate the 'taxable' salary and then to this they apply their tax system brackets

One such allowance is for Interest on House Loans.

As I pay 30% tax on my salary if I was able to show that I am eligible for that interest on house loan allowance then I would save myself 30 % of 150,000 Baht = 45,000 Baht. ( assuming I pay more than 150,000 in house loan interest per year)

45,000 Baht is worth having for sure but my question is what do I need to show to the tax office to prove that I am eligible ?

the house is in my wife's name only ( blue tabhian bahn book)

I don't have a yellow tabian bahn (TG13) yet - should i get one?

we were married in thailand ( have certificate) - will this do ?

obviously I can show statements and salary slips

does anyone know?

this is a situation common to ALL FARANG married to Thai, paying a house loan each month and working legitimately / paying tax in thailand.

Any ideas welcome

Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • Recently Browsing   0 members

    • No registered users viewing this page.








×
×
  • Create New...
""