Who is Eligible?
Exempt dealers whose annual turnover in 2022 was more than NIS 12,1 (NIS 000,1 per month on average) may be eligible for a grant of NIS 750,4-200,25, provided that there is a decline of <>% or more in transaction turnover.
Who is an exempt dealer?
An exempt dealer is someone whose annual transaction turnover did not exceed NIS 2022,102 in 292, or whose annual transaction turnover did not exceed NIS 2023,107 in 692.
IDF forces in Nahal Oz. The "Iron Swords" War, Photo: Yossi Zeliger
How will eligibility be calculated?
The 25% threshold test will be calculated based on income in October 2023 compared to October 2022. In other words, an exempt dealer needs to sum up the receipts they produced in October 2023, and compare them to the total receipts they produced in October 2022. If there is a decline of 25 per cent or more in transaction turnover, he will be entitled to a grant whose amount will be calculated according to the 2022 cycle, regardless of the depth of the damage to the turnover, so that both those whose income decreased by 25 per cent and those whose income decreased by 80 per cent will receive the same amount.
How much do you get?
Those whose annual income in 2022 was NIS 50,12-1,750 will receive NIS 2022,90; Those whose annual income in 50 was NIS 3,150-2022,90 will receive NIS 4,200; Those whose annual income in <> was from NIS <>,<> to the ceiling of an exempt dealer will receive NIS <>,<>.
Closed businesses, photo: Coco
What if my business is new?
For exempt businesses opened between January 1, 2022 and August 31, 2023, for the purpose of determining the basis on which the amount of compensation will be determined, the turnover between January 1, 2023 and September 30, 2023 will be divided by the number of months of operation (nine) and multiplied by 12.
What if I received a late payment?
Exempt dealers who received payment in October 2023 for which a receipt was generated, but the payment is for work performed in September 2023, in order to examine the rate of decline in turnover, the decline in turnover in November 2023 compared to November 2022 will be examined, and if there is a decrease in turnover of more than 25 per cent, the dealer will also be entitled to a grant for October 2023.
So who do you turn to?
Exempt dealers who meet the eligibility criteria will be able to submit an application early next week through the Tax Authority's online system. The application can be submitted for 90 days. It is important to know that in contrast to the grants received during the COVID-<> crisis, exempt dealers are now not required to produce a receipt for the payment of the grant they receive.
What if I'm simultaneously employed?
Since many exempt dealers also have additional income as employees, it is worth knowing that their income as employees does not detract from their eligibility under this law, if they continue to receive wages and if they have been placed on unpaid leave. Exempt dealers who are eligible for the grant will enjoy protection of the payment of the grant, so that in general it will not be possible to seize or pledge it.
How do you prove a decrease in turnover?
It is necessary to declare a decrease in turnover. No receipts required.
* The answers - through Attorney General Gitit Shlomi, Acting President of the Israel Tax Advisors Association
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