In daily work, it is often easy to question the tax payment of one-off compensation income when the labor relationship between individuals and employers is terminated. How should we grasp the core points of the policy and how to calculate tax payment? The following, by my tax agent firm for you to carry out specific analysis.
In daily work, it is often easy to question the tax payment of one-off compensation income when the labor relationship between individuals and employers is terminated. How should we grasp the core points of the policy and how to calculate tax payment? The following, by my tax agent firm for you to carry out specific analysis.
According to the Ministry of Finance Notice of the State Administration of Taxation on the Convergence of Preferential Policies after the Revision of the Individual Income Tax Law2018:164The first point of Article 5 stipulates that the one-off compensation income (including the economic compensation, living allowances and other subsidies issued by the employing unit) obtained by the individual and the employing unit after the dissolution of labor relations shall be the average wage of the staff and workers in the local last year3The part within the doubling amount shall be exempt from individual income tax; exceed3The part of the doubled amount shall not be incorporated into the comprehensive income of the current year, and shall be separately applied to the comprehensive income tax rate table for calculation and tax payment.
Case:2019years12Month, a unit of efficiency reduction and work in the unit10Years of labor relations, Zhang SAN to obtain one-time compensation income16Ten thousand yuan, the average salary of local employees last year5Ten thousand yuan, then Zhang SAN this income should pay personal income tax is how much?
Analysis:
(1) Calculate the amount of exemption=50000×3=150000(Yuan)
(2) taxable income=160000-150000=10000(Yuan)
(3) to find the consolidated income tax rate table, applicable3%The amount of tax payable=10000×3%=300(Yuan)
[Policy core] The unit fired individual "squid" paid compensation, after deducting a certain amount of tax exemption, tax payable separately. These provisions shall apply to the termination of the labor relationship before its expiration and shall not apply to the termination of the labor relationship after its expiration.
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