(CNN Spanish) --
In a few days, Argentines will be able to collect the half Christmas bonus corresponding to the month of December, an extra payment provided for in the law of special utility at times when the country accumulates inflation of more than 75% in the year .
All workers have the right to collect the bonus, formally called Complementary Annual Salary, which is a thirteenth year's salary and is paid in two installments, the first on June 30 and the second on December 18.
This year December 18 falls on a Sunday, but employers have four business days of grace.
How is the Christmas bonus calculated in Argentina?
The Christmas bonus is 50% of the highest monthly remuneration the worker has received, as stipulated by Law No. 23,041.
For the half that is paid in December, the employer must estimate what the salary for that month will be before the end of the month and if this calculation does not coincide with what the person received, they must recalculate the second installment of the Christmas bonus.
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To receive a Christmas bonus, there is no minimum number of working hours required.
Also, remember that if your employment contract is terminated, you have the right to be paid the proportional part of the bonus that corresponds to you for the time you work.
Do you pay Income Tax?
Up to $165,000 in Christmas bonuses will be exempt from Income Tax for those people whose monthly average annual salary does not exceed $330,000, Télam reported in October.
The decision was announced by the Government within the framework of the increase in the non-taxable minimum of the tax to $330,000, which according to official calculations would benefit some 380,000.
The tax official Sebastián Domínguez explained to the state media that "if the average monthly salary or gross income for the second semester of 2022 exceeds $330,000, then the Christmas bonus is fully taxed by the Income Tax."
If the average is lower, then the tax begins to apply from $165,000.
