Calculation of income tax as of July 2019

he

income tax

This will be $ 8290 in 2019 for an employee with an average gross salary of $ 70,000, net of his wife and two children (an average monthly discount of $ 637). The tax burden will be US $ 85,992 if the income before discounts is US $ 100,000 on average each month (always with the proportional premium) and if the deduction is made for two children but not for the spouse (for example, because that it works at its own income).

These figures result from the application
the new values ​​with which the income tax will be taxed in 2019.
In accordance with the law, the amounts deducted from the salary (net of contributions) prior to the calculation of the tax, as well as the maximum values ​​of the income subject to the privilege which determine the payment rate, are adjusted according to the evolution had a wage index between the months of October (in this case, between the tenth month of 2017 and the tenth month of this year). Last Thursday, the Ministry of Social Security updated its report on the average earnings of stable workers (Ripte). This variation is known to be 28.29%.

On this basis, it is possible to determine that employees will be taxed with an average net monthly income starting at $ 38,301 ($ 46,146 in gross terms), if they do not receive a deduction for their family or any other income. Another type. In the case of those who can deduct a spouse and two children, for example, the minimum net amount from which they will be taxed will be $ 50,668 ($ 61,046 gross). If an employee deducts two children but not their spouse, they will pay the next year an average monthly net income of $ 44,511. And if, for example, we deduct only one child (or 50% of both children, as provided by law, this can be done from this year, if both parents pay taxes, considering the level of their income), then Low achieved by the gains will be $ 41,406 per month. The numbers include the proportional bonus.

As the update of tax variables is lower than inflation (estimated at around 47% for this year, end-to-end), the tax burden will increase until reaching, even in some cases, to reduce the power of purchase. And in 2019, with the re-composition of wages, new taxpayers could be added.

What is discounted for the entire year and in a generalized way of income, before calculating whether to pay the tax, and in any case by how much, will increase from $ 388,123,123 (2018) to 497 $ 924 (2019). And what is possible to deduct (subtract from the amount subject to tax) for each child under 18 increases from $ 31,461 per year to $ 40,361. Meanwhile, the deduction per spouse, which is only possible if the person does not have any income or receives less than $ 85,848 throughout the year, his or her student at $ 80,034, also for 2019.

As the law did not provide, the figures of what it is possible to deduce for such concepts as mortgage interest are not adjusted year after year (the maximum limit is 20,000 dollars per year). On the other hand, the maximum annual deduction for payments to domestic service staff or rents will be $ 85,848. Other concepts for declaring deductions and reducing the tax burden (by always accessing the AFIP website and searching for the Siradig – Worker option) are: contributions to life insurance, medical expenses, pre-paid drug costs, funeral costs for declared relatives and donations to certain public-good institutions.