• Sentence

• additional subjects

Did you get fired or did you go to the IDF in Corona? You deserve tax refunds of thousands of shekels

Hundreds of thousands of employees, who were forced to stop working due to the corona crisis, are entitled to high tax refunds that they are often unaware of.

What should be done?

Tags

• Internal Revenue Service

• Tax refunds

National Center for Tax Refunds, in collaboration with Legal Zap

Monday, 08 March 2021, 10:58 Updated: 11:12

• Share on Facebook

• Share on WhatsApp

• Share on general

• Share on general

• Share on Twitter

• Share on Email

Income tax (Photo: ShutterStock)

Thousands of shekels, and maybe even tens of thousands of shekels - these are the amounts that you probably deserve, if you are also part of the hundreds of thousands of employees who were forced to stop working last year.

Whether Fotrtm, removal or cessation of unpaid leave to work for another reason, the money just waiting to have gathered it, almost without effort.

Because you can get tax refunds retroactively six years back, assuming you come tax returns of several thousands of dollars per year, then the refund generated on can be very high. a word of warning: If you do not do anything and did not ask for the money back within six years, he would vanish.

it sounds almost incredible, but this is exactly what happens to a billion and a half shekels that are returned each year, on average, by the tax Authority To the state coffers. This "mountain of money", which lies with the tax authorities, stems from tax refunds in huge amounts that reach many Israelis, who do not bother to ask for them back.

More on Walla!

In the shadow of the corona: will insurance companies evade paying compensation?

To the full article

From a change of workplace to maternity leave

Which of the employees in the State of Israel are entitled to tax refunds?

It is estimated that about 80% of us pay excessive amounts to the tax authorities each year and are therefore eligible for a refund.

Did you change jobs, were you fired, did you go on sick leave, were you on maternity leave or illness or were you abroad for a significant period of time?

You deserve a refund.

Why?

The reason for this stems from the way the tax authority calculates the tax payments it collects from us.

It requires us to make payments according to an annual calculation, so if, for example, an employee earned NIS 10,000,000 in a particular month, he will be charged on that basis throughout the year, assuming he earned a similar salary.

According to this example, the authority assumes that the employee earned NIS 120,000 each year, and charges him in advance at tax rates accordingly.

But, in most cases the salary varies, the employee does not work for several months or his salary is small, as a result the collection from that employee is made more, and he is entitled to tax refunds.

Even employees whose wages have changed throughout the year may be eligible for significant tax refunds.

For example, if you are a salesperson who receives a salary based on commissions, and your salary has fluctuated and changed throughout the year, you should check your eligibility for refunds.

Apparently, you deserve a significant refund from the state.

Unused tax benefits of thousands of shekels

Those who are entitled to tax refunds are not only those who have stopped working or whose salary has changed, but also those who have not taken advantage of the tax benefits they have earned over the years.

For example, if you have completed military service, you are entitled for 3 years later to two income tax credit points worth thousands of shekels.

Did you complete a bachelor's or master's degree in good time?

Even in this case, you are entitled to an income tax credit point, but must demand it from the employer, and if you did not demand it - you are entitled to a tax refund.

Want more examples?

you are welcome.

Do you have children up to the age of 18?

You are entitled for each child to 1.5 credit points in the year he was born and to another credit point in subsequent years.

You got divorced and you pay alimony?

This is a recognized expense that allows for significant tax refunds.

Is one of your relatives receiving nursing care?

You are entitled to significant tax refunds, and so even if you paid life insurance payments in the past year, you paid praise tax on the sale of an apartment, you redeemed a provident fund before the date of retirement and more.

What should be done to check if a refund is due?

The truth is not much.

To check if you are eligible for a tax refund, all you have to do is contact a tax advisor or accountant who specializes in this so that he can check your eligibility, almost effortlessly.

An equally important aspect is that, for the most part, the payment for this service is derived as a percentage of the refund you deserve.

Therefore, if you do not receive a refund - you will not be required to pay.

What else do you need to know who wants to get a tax refund?

A tax refund can only be received by someone who has paid tax.

That is, if you earned less than the ceiling that requires the payment of income tax (about NIS 6,500 net per month or so) - you will not be able to get a refund.

Because the average wage in the economy is higher, the vast majority of employees in Israel are entitled to refunds.

As mentioned, a tax refund can be obtained retroactively over the last 6 years.

That is, if for example in the last year you did not have income, but in previous years you had such income, you may well be entitled to tax refunds.

National Center tax returns accompanied past seven years, hundreds of employees and specializes, among others, advising and making tax returns for salaried employees, refunds Israel Lands Authority, coordinating insurance payments from the National Insurance and More

Phone: 053-6318932

Article courtesy of Zap legal

information presented in the article does not constitute legal advice or Substitute for it and does not constitute a recommendation for taking proceedings or avoiding proceedings.

Anyone who relies on the information in the article does so at his own risk

• Share on Facebook

• Share on WhatsApp

• Share on general

• Share on general

• Share on Twitter

• Share on Email