Revised Tax Exemptions schemes

[meledson]

Cant blame the government for doing this move, She have to appease the masses or she might lose her position as well as her wealth to the angry mob. Mukhang magtitipid na ang gobyerno ah!

For me, matagal na dapat ito ginawa ng congress.

[meledson]

Cant blame the government for doing this move, She have to appease the masses or she might lose her position as well as her wealth to the angry mob. Mukhang magtitipid na ang gobyerno ah!

For me, matagal na dapat ito ginawa ng congress.

[handshake]

kasama ba dito sumusweldo ng 18-20k per month?

[karlbo]

The senator added that all holiday, night differential, hazard, and overtime pay would also be tax-exempt.

- I wonder kung sa minimum wage earners ito o para sa lahat. I think matutuwa mga taga call centers nito lalo na sa mga nag night diffs and OTs. Biro ninyo tax exempted na yon. This is really a good news to everyone.

Hay!? salamat naman kung ganito... naknang.. more take home.. less tax to pay..

nangyayari kasi napapaOT halos yung iba para may pambayad ng mga taxes eh.. nampepe naman ohhh..

[CVT]

Originally Posted by mikaztro View Post
The senator added that all holiday, night differential, hazard, and overtime pay would also be tax-exempt.

- I wonder kung sa minimum wage earners ito o para sa lahat. I think matutuwa mga taga call centers nito lalo na sa mga nag night diffs and OTs. Biro ninyo tax exempted na yon. This is really a good news to everyone.

Huwag na lang magtrabaho ng regular na oras at pumasok na lang ng Linggo o holiday o mag-overtime na lang para walang tax......

6220:foryou:

[meledson]

Wala akong OT pay nor night differential.

Masaya na ako kasi kahit paano ay bumaba ng konti ang tax na babayaran dahil sa mga exemptions.

Dapat ang mga tax bracket ang ayusin din.

[1D4LV]

kasama ba dito sumusweldo ng 18-20k per month?

if you are in metro manila, hindi. 375/day * 22 = 8,250.00 lang dapat ang sweldo mo para maging tax free income mo.

pero mababawasan pa din ang tax mo dahil sa increase of personal exemptions.

[_Qwerty_]

don sa holiday pay, overtime pay, etc.. nakalagay don sa Republic Act eh.. exempted from tax lang for minimum wage earner.. pag di ka na minimum wage earner.. taxable na yang mga holiday, overtime, etc.

[valvura]

kasama ba dito sumusweldo ng 18-20k per month?

the impact for a family earning P20K/month with 4 children (below 21 yrs old) would be this:

Before: P20,000 x 12 = 240,000 - 32,000 - 32,000 = 176,000 taxable
Tax = 22,500 + (0.25 x 36,000) = P31,500 / 12 = P2,625 per month

With new tax exemption:
P20,000 x 12 = 240,000 - 50,000 - 100,000 = 90,000 taxable
New tax = 8,500 + (0.20 x 20,000) = P12,500 / 12 = P1,041.67 per month

Savings per month = P2,625 - 1,041.67 = P1,583.33

(Equivalent to almost 3 kilos of NFA rice per day OR 27 Liters premium gasoline a month)

[fourtheboys96]

this is good news for a govt employee like me.

but on the other hand, I still believe we need taxes for our economy to function normally.

yes we can tax the rich businesses. then put the money in SME's.