Post by amina147 on Mar 6, 2024 23:39:07 GMT -6
The to the principles in Article Selfemployed persons who have disabled dependents and service personnel including withholding tax base also benefit from this discount. DEDUCTION OF CONTRIBUTIONS AND PREMIUMS PAID TO INDIVIDUAL RETIREMENT SYSTEM AND PERSONAL INSURANCE IN DETERMINING THE TAX BASE AND TAXATION OF INCOME ACHIEVED The current practice after. in taxation of income obtained by deducting contributions and premiums paid to the private pension system and personal insurance from the tax base is briefly summarized below State Contribution Application.
The main incentive provided to participants in the private pension system was the tax advantage provided by deducting the paid contributions from the income tax base. However the presence of a significant Austria Phone Numbers List proportion of nontaxpayer participants in the system prevented the expected results from this practice and the incentive provided in the form of deduction from the tax base was abolished and to be implemented as of. a certain proportion of the contributions paid to the private pension account on behalf of the participant was transferred to the State contribution. has been started to be paid by the Undersecretariat of Treasury. The principles of state contribution application are briefly as follows.
The amount corresponding to of the contributions paid to the private pension account on behalf of the participant excluding those paid by employers will be transferred to the relevant accounts of the participants from the appropriation allocated to the budget of the Undersecretariat of Treasury. In addition with the amendment made to the relevant law it will be calculated as for amounts transferred to company accounts after. The total amount of contributions paid for a participant in a calendar year and which constitute the basis for calculating the State contribution amount cannot exceed the total amount of the gross minimum wage corresponding to the calculation period. From the participants after.
The main incentive provided to participants in the private pension system was the tax advantage provided by deducting the paid contributions from the income tax base. However the presence of a significant Austria Phone Numbers List proportion of nontaxpayer participants in the system prevented the expected results from this practice and the incentive provided in the form of deduction from the tax base was abolished and to be implemented as of. a certain proportion of the contributions paid to the private pension account on behalf of the participant was transferred to the State contribution. has been started to be paid by the Undersecretariat of Treasury. The principles of state contribution application are briefly as follows.
The amount corresponding to of the contributions paid to the private pension account on behalf of the participant excluding those paid by employers will be transferred to the relevant accounts of the participants from the appropriation allocated to the budget of the Undersecretariat of Treasury. In addition with the amendment made to the relevant law it will be calculated as for amounts transferred to company accounts after. The total amount of contributions paid for a participant in a calendar year and which constitute the basis for calculating the State contribution amount cannot exceed the total amount of the gross minimum wage corresponding to the calculation period. From the participants after.