In this way, Major inconveniences are avoided to settle the tax linked to the first installment of the Complementary Annual Salary. If the current floor from which $225,937 is paid changes in July, it would be necessary to take what is discounted in the first semester on a provisional basis and see at the end of the year to see if the employee paid more and request a refund.
According to sources from the Casa Rosada, the idea is that the improvement of the Income Tax floor will respect the evolution of salaries in the first half of the year. But for tax advisers it should keep pace with inflation. Even so, it is not yet determined how much the improvement will be.
Income Tax: what will happen to the Christmas bonus?
In accordance with the provisions of the Income Tax Law, for the Fourth Category, the Christmas bonus is taxed on Income Tax when the average gross remuneration for the year exceeds the floor set by the Executive Power from which salaries begin to suffer withholdings. Last year they had started with $150,000, then they increased it to $170,000 and now it is at $225,937.
Today there are some 948,000 workers in a dependency relationship who are regularly reachedwhich implies a rise of 14% compared to last year, according to the president of the Chamber of Deputies, Sergio Massa, in a letter sent to the Minister of Economy, Martín Guzmán.
Over there, Massa asked Guzmán to raise the floor to avoid that the salary increases achieved in parity in the first part of the year are affected, in the same way as the calculations for the first installment of the SAC.
Even so, Sebastián Domínguez, from SDC Tax Advisors, considers that any liquidation that is carried out now in relation to the SAC will be “temporary” until the end of the year the annual conditions of the tax are fixed. In fact, it may be the case of a person who does not receive discounts from his monthly salary, but could have it from the SAC.
This is because throughout the year the assets can continue to rise, in the same way as the floor from which the tribute is paid. The two variables will determine if the worker will have the right to request a refund, if he paid more for the Christmas bonus, or if he did not have to pay.
An example could be, assuming that the floor rises to $300,000, that of an employee with an average gross salary of $240,000 who receives a commission of $100,000 in May. That person would have to collect a SAC of $170,000, while the floor for the first six months is $150,000. He would have to pay Winnings of $20,000. If that employee reached the end of the year and his average salary fell below $300,000, he would not be taxed and he would have to ask for what he paid back.
Dominguez indicates that the floor from which the tax is paid, which also determines if it is also appropriate to do so by the SAC should go up 40% based on inflation accumulated between January and May. With this, the new limit “should be $315,000 gross monthly average,” she said.
Source: Ambito
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