According to the information from the Department of State Revenues of Almaty, these new measures affect large families, educational expenses, and mortgage loans, helping families to save money.
Tax Deductions for Large Families
Tax deductions are now available for families with several children, which can be utilized by both parents.
The deductions amount to no more than 282 MRP per year:
- One parent can receive a deduction of 23 MRP per month, which this year totals 90,436 KZT.
- Each parent can claim 12 MRP per month, totaling 47,184 KZT this year.
These deductions can be claimed if the family has at least four minor children, which must be verified by birth certificates. This will help to exempt approximately 90,000 KZT per month from taxation and reduce the income tax by 9,000 KZT each month.
Tax Deduction for Education
The deduction can be claimed for educational expenses if it involves:
- Preschool education;
- Technical and vocational courses;
- Higher education.
The deduction is available for paying for one's own education or for the education of children up to 21 years of age, provided they are dependents. The deduction is capped at 118 MRP per year, and to claim it, one must provide an education contract and a payment receipt.
Tax Deduction for Mortgage Loans
This year, the tax deduction for mortgage interest will apply not only to loans from Otbasy Bank, as it did previously, but also to loans from any other banks.
To take advantage of this, you need to submit an application to the HR department and bring documents that confirm the mortgage agreement, repayment schedule, and payment records.