Tax filing is coming in a few months. Last time we talked about Information for New Salaryman about Online Tax Filing 2022 ( In 2023 Taxable Year). Today, we are going to learn about Tax Allowance for those who have income starting from 150,001 per year need to pay Tax and those who have total income under 120,000 per year need to file Tax. Thus, let’s take a look at what can be used in Tax Allowance.
1.Personal and Family Allowance: Spouse allowance, Antenatal care and Childbirth allowance, Parental Care Allowance, and Patronizing for Incompetent Person Allowance.
2. Insurance and Investment Allowance: Social security, Life Insurance, Health Insurance and Mutual Fund.
3.Charitable contribution Allowance:General donations, Educational donation, and Political donations.
4. Tax allowance for the stimulus package. The refund for good shopping and Home Loan.