New Tax Deductions for Families in 2025: What You Need to Know
Starting from January 1, 2025, new standard tax deductions for personal income tax (NDFL) have been introduced in Russia, aiming to support families with children and caregivers. Understanding these changes is essential as they can significantly affect the financial landscape for many families, especially those with multiple children or children with disabilities.
One of the most notable updates is the increase in tax deductions for families with children. For the second child, the deduction now stands at 2,800 rubles, while for the third child and any subsequent children, it has been raised to 6,000 rubles. This adjustment recognizes the financial pressures that larger families often face and aims to alleviate some of those burdens through tax relief.
Moreover, for guardians and foster parents of children with disabilities classified as I or II group, the deduction is set at a generous 12,000 rubles. This targeted support highlights the government’s commitment to ensuring that children with special needs and their caregivers receive the necessary assistance.
Here’s a breakdown of the key points regarding these new tax deductions:
- Eligibility: Parents, guardians, or caregivers can claim these deductions.
- Income Cap: The total income of the taxpayer must not exceed 450,000 rubles from the start of the year to qualify for the deductions.
- Claim Process: Families can receive these deductions directly through their employer, which simplifies the process significantly. Taxpayers no longer need to submit a formal application to confirm their eligibility.
These changes come in response to the ongoing discussion regarding the financial challenges faced by families in Russia. By increasing the tax deductions, the government aims to provide more support to those raising children, especially in the context of rising living costs.
In summary, the new tax deductions for families with children, effective from January 1, 2025, represent a significant shift in support for households. These changes not only provide immediate financial relief but also reflect a broader commitment to supporting family welfare and child development in the country. Families should take note of these new deductions and consider how they might impact their financial planning for the year ahead.
