The tax refund will fall into our accounts soon. In any case, those who were quick enough to use digital services like Kivra to declare. But when it comes to declaring, there are various deductions that many do not think about or double-check and with that you lose some money
There are deductions for almost everything and we list some of the most important ones that make it worthwhile to take a look at the declaration, if you have not already submitted it.
Tax deduction for loans
It is also called interest deduction. With the interest deduction, you can offset a certain portion of your total interest expenses that have been paid during the year against what you totally pay in tax for your income. This applies to both private loans and mortgages. One tip is to collect all the loans you can to a larger one via Conlaí so it will be easier to keep track of them and lower the cost of the loans.
ROT and RUT deductions
These deductions allow you to remove a certain percentage of the labor costs for those services. This is 30 percent for ROT deductions and 50 percent for RUT deductions. The deductions are made by the person who has performed the work directly on the invoice, which then registers it with the Swedish Tax Agency.
If you have sold shares or mutual funds with a profit, you estimate 30 percent of that profit. If, during the same year, you have sold shares or mutual funds for loss, you can reduce the tax by offsetting the possible loss amount. In case you only sold for a loss or if the losses are greater than the profit, a deduction of 70 percent of the lost amount is made.
Mobile phones, computers and tablets
In some cases, people use their private phones to make service calls. Then you can deduct those costs – as long as you can prove the additional costs of those calls. The same goes for computers and tablets if they are essential for you to do your job but the employer cannot give you access to corporate.
Are you cycling to work?
If you cycle to and from work, you can deduct USD 250 per year for costs that include your bike.
If you go by train or bus, you can deduct the expenses that are over USD 10,000.
Is it easier to take the car?
When it comes to deducting the car, the distance to the job must be five km and you must earn at least two hours a day not to take public transport. Then you have to deduct these travel expenses. That deduction is USD 18.50 per kilometer for private cars and service cars are divided into USD 6.50 for diesel against USD 9.50 for other fuels.