[TOPIC 15] SPECIAL DEDUCTIONS | Standard Deduction, Family Home, and Benefits Received Under RA 4917
Resident and non-resident decedents of the Philippines are allowed to claim special deductions from their gross estate. Special deductions are comprised of three: Standard Deduction, Family Home, and Benefits Received under RA 4917. Resident citizens, non-resident citizens, and resident aliens are allowed to claim a standard deduction of P 5,000,000, while non-resident aliens are allowed to claim P 500,000. For a family home, the maximum allowable deduction is P 10,000,000, but non-resident aliens cannot claim a deduction for a family home.
Please watch this video for more discussions and more illustrations.
Please watch this video for more discussions.
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If you want to learn more about income taxes, please open this playlist and enjoy every video: • Income Taxation (Philippines)
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Also, if you want to learn more about business and transfer taxes, watch the following videos:
1. Estate Tax for Single and Unmarried Decedents: • [TOPIC 17] ESTATE TAX COMPUTATION | H...
2. Estate Tax for Married Decedents: • [TOPIC 18] ESTATE TAX COMPUTATION | H...
3. Estate Tax for Non-Resident Aliens: • [TOPIC 19] ESTATE TAX COMPUTATION | H...
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