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The new law is already in effect.  Starting in July, we'll be earning more - some at 5 percent, some less.  Check gross and net accounts [16.06.2022]

The new law is already in effect. From July we will earn more – 5 percent for some, less for others. Check the total, net in the calculations [22.06.2022]

As signed by the President on June 14th, this is for sure! Starting to withdraw money from July, the minimum tax rate will be reduced from 17 to 12 per cent, so a little more money will be transferred to our wallets or bank accounts. Of course, that would not be the full 5 percent, because “along the way” they would deduct 9 percent from it. Health insurance premium. If they are not all, for example, contracts for specific work are exempt from health insurance contributions. So, based on a dozen or more examples, we calculated how these tax benefits would be designed for different individuals on a monthly basis and by the end of the year. Cheque!

Inflation has already reached 15 percent. Subsequent interest rate hikes have not yet been able to stem the rise in prices, and therefore the cost of living. In this case, the income tax has been reduced by 5 percent. – From 17 per cent to 12 per cent – Reducing inflation to single digits is the norm. Assuming that inflation has already peaked in April, in practice it will automatically fall to 7%.

Unfortunately, this is not possible for those with a net income of up to PLN 2,500 per month, as such income is exempt from PIT from the beginning of the year (PLN 30,000 free per year) and is practically not deductible at a lower tax rate.

With almost all reserves and savings being consumed weekly, any type of financial mattress is highly desirable. This will definitely reduce the first rate of the PIT tax table from 17 to 12 per cent. Except for the group of persons whose annual taxable income does not exceed PLN 30,000. For PLN (since this is the total amount deducted from PIT), the tax deduction is for every 100 PLN earnings, plus an additional PLN of 4.55 wallets (9% of the PLN 5 total minus health insurance premium).

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This is already confirmed – the minimum wage. Two pay rises are coming, most …

Complex relief for the middle class to mitigate the shock of the 7.75% increase. Tax relief (in fact, the abolition of the right to deduct almost the entire contribution from tax) caused confusion and the complete tax reform failed along with misunderstandings regarding the determination of advance tax (PIT-2). It would be good for the government to acknowledge the mistake and simplify the personal income tax issue.

Improving the Polish tax mandate is about other groups of entrepreneurs and taxpayers affected by the lack of tax exemption rights for the middle class. It would end by repealing this relief and reducing the first tax limit from 17 percent. Up to 12 percent – for everyone. Since this relief should be a shield against the effects of eliminating almost the entire Medicare contribution and the right to deduct from tax, what would be the effect of the new changes, especially for the middle class, i.e. those earning full-time jobs, after all? Who benefits and who loses?

Donations and Falls When and How Much You Pay • Tax Group I - includes: spouse, stepchildren (parents, grandparents, great-grandparents), offspring (children, grandchildren, great-grandchildren), adopted son, siblings, Stepmother, stepmother and son-in-law and parents.  If the donation of such person does not exceed PLN 9,637, we do not have to report it anywhere, but if this value is higher, we have 6 months to report to the tax office.  Then we will be duly exempted from tax duty.  However, if the obligation to declare is neglected, the tax will be levied and payable • Tax Group II - Descendants of siblings, siblings of parents, offspring of stepmothers, offspring of spouses, spouses of siblings, spouses of other offspring, spouses.  Here, we pay taxes when the value of the donation exceeds PLN 7 276.  குழு Tax Group III - This group includes people who are not related to us: e.g.  An employer or friends.  We do not have to pay taxes if the gift from them does not exceed PLN 4,092.  Donations of persons belonging to groups II and III must be paid within one month from the date of the ceremony.

Pay this tax and submit the notice before the tax office stops you.

This is not as simple as it may seem at first glance – if there is only a reduction in the tax rate, everything will be clear. However, at the same time, the relief for the middle class will be canceled – incidentally, after only a few months of operation – it will cease to provide protection. What this also means is that lowering the tax rate will in many cases yield less than the liquidation of tax relief and the balance may be negative, not positive. Therefore, it is worth analyzing specific calculations.