Thursday, November 28, 2013

Negative Income Tax Update

Update: the deadline for applying for Negative income tax (for the 2012 tax year) has been extended again!
The new deadline is Dec 27, 2013.
If you haven't yet applied for it and think you qualify, please take a few moments to get this taken care of!
I'm reposting my original post about this below, so you can find all the  information you need!

Tuesday, August 20, 2013

Negative Income Tax (Israel)

Just a friendly reminder about the negative income tax for 2012. This is basically a tax refund for working families. There are various qualifications to meet - basically someone who works and is age 23+ with children under the age of 18, or age 55+, even without children. The deadline to file based upon your 2012 earnings is September 30, 2013.

--- Retrieved from http://www.kosherfrugal.com/2013/08/negative-income-tax-israel.html ---

It's easy. Just go into the post office (not all post offices do all tasks, please verify which branch to use), with your Teudat Zehut and your bank account information (take a check, everything they need is on there, or get a letter from your bank, the banker will have a form to fill out and stamp if you don't have a check. Just knowing your account # and branch # isn't enough, it needs to be "official".). Let the clerk know that you want to apply for "mas shleelee". Answer a few questions, and then go home. Your approval may take a few weeks, and you'll be given instructions for checking the status online.

This program is open to people who earned, on average, no less than 2041 shekels per month and no more than 6645 shekels per month (the exact amount that will qualify you depends upon various factors). Even if some months you earned more, if you were unemployed or under-employed for part of the time, you may qualify. In some cases, people who are (legally) self-employed qualify as well... If you were employed by a relative, you are not allowed to claim this benefit.


If you have questions about this program, please call the tax authority at *4954.

Check it out and see if you qualify! Some people will get a nice big "refund" and others will just get a token amount. Still many others will not qualify, because they are decently employed.

B'hatzlacha. 


UPDATE: The deadline for the 2012 tax year has been extended to November 30, 2013!

If you found this post informative/useful/important, etc, please follow this blog (links on the right!) and find us on Facebook  

2 comments:

  1. Hi. What's your source for the extension to Dec 27?
    I linked your article on Janglo

    ReplyDelete
    Replies
    1. Hi Zev, thanks so much for linking to my article!
      The extension was announced by the Tax Authority - I've added the link to the article. You can see the announcement here: http://taxes.gov.il/About/SpokesmanAnnouncements/Pages/Ann_27112013_3.aspx

      Delete

Hi! Thanks for commenting on Frugal and Kosher! From now on, all comments are moderated, because of the unfortunate prevalence of spammy comments. Thanks for understanding!