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Tax allowance: calculation, age, conditions - Liberté financièregoogle.com, pub-9809009992858082, DIRECT, f08c47fec0942fa0 google.com, pub-9809009992858082, DIRECT, f08c47fec0942fa0

Tax allowance: calculation, age, conditions



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If the declaration of income concerns you, you can take advantage of a tax allowance. It can reach up to 5,240 euros.

Between the adoption of pension reformthere 2023 tax return to complete and send and inflation, the French have only one concern: their finances! If the declaration of income concerns only one in two households in France, some people may be exempt and others can hope to reduce the score by ticking the right boxes and declaring pensions or state aid.

What is the tax deduction?

The tax allowance was valued this year at 5.4%. Some taxpayers may therefore be entitled to it, whereas they were previously excluded. This allowance could, depending on your income, reduce or even exempt you from taxes. No action is necessary to apply for this allowance, since it is automatically deducted from your income.

Who is entitled to the deduction?

To be able to take advantage of a attractive tax allowance, you must meet certain conditions. Indeed, this tax allowance only concerns people over the age of 65 and people with disabilities and whose overall net income allows them to benefit from this deduction on taxable income.

For an overall net income less than or equal to 16,410 euros, the allowance amounts to:

  • 2,620 euros if the taxpayer or only one member of the couple subject to joint taxation is over the age of 65 or is disabled; 5,240 euros, if the two members of the couple subject to joint taxation meet the conditions of age or disability.
  • For an overall net income of between 16,410 and 26,400 euros, the allowance amounts to 1,310 euros, if the taxpayer or only one of the members of the couple subject to joint taxation is over 65 years old or is disabled; 2,620 euros if the two members of the couple subject to joint taxation meet the conditions of age or disability.
  • Beyond 26,400 euros of total net income, no allowance is granted.

In the event of the death during the year of one of the spouses subject to joint taxation, the surviving spouse may, if he meets the conditions, benefit from the allowance for the taxation established in his name, from the date of death of his spouse until December 31, even if this advantage has already been applied for joint household taxation.

Taxes 2023: what must be declared

Certain information should not appear on your tax return. Here is the list of income that you must declare and what not to declare because they are tax exempt.

The following amounts are tax exempt and not reportable:

  • The personalized autonomy allowance;
  • Solidarity allowance for the elderly (ASPA), the supplementary invalidity allowance (ASI) and the allowances for the minimum old age;
  • Old-age pensions paid by Social Security, the amount of which does not exceed the amount of the allowance for old salaried workers (AVTS) if the beneficiary’s resources do not exceed the income ceiling set for the allocation of this allowance;
  • Certain military pensions, war pensions and similar, in particular the retirement of the combatant;
  • The mutual pension of veterans, within the limit of the ceiling of the pension increased by the State;
  • The specific dependency benefit;
  • The increase for assistance from a third party;
  • Temporary orphan’s pensions: invalidity pensions received by the child concerned, the fraction of the pension corresponding to the amount of family benefits to which the deceased parent would have been entitled, the part of the pension which replaces the allowance for disabled adults …

The following amounts are to be declared:

  • Sums paid by pension schemes, basic and supplementary, by special schemes or by the State;
  • Retirement benefits paid in the form of capital
  • Increases for family expenses;
  • Bonuses for war campaign (increase in the pension granted to veterans);
  • Additional allowances paid by pension schemes (e.g. education allowance, death allowance, etc.).
  • Allowances paid to certain veterans;
  • Widowhood allowances;
  • Life annuities paid under a popular retirement savings plan (PERP), the PREFON scheme or a Madelin contract or a mandatory supplementary company pension scheme (Article 83) as well as annuities from a mandatory retirement savings plan (PERO), an individual retirement savings plan (PERIN) or a collective company retirement savings plan (PERECO), other than those corresponding to payments from employee savings or voluntary payments that have been the subject of an option for their non-deduction;
  • Life annuities paid free of charge received under a deed of gift or a will.

Please note that you must declare the pensions and pensions of dependents or related persons yourself, as this income is never pre-filled. Since January 1, 2019 and the introduction of withholding tax, retirement pensions are subject to withholding tax. The amount you receive is therefore an amount net of withholding tax.





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