Deduction up to 12,000 yuan!Personal pension deducts the new policy of the tax, and the income tax burden will be reduced to 3%

Qingdao Daily/Guanhai News, September 28. The personal pension system ushered in a good tax policy. According to the executive meeting of the State Council held on September 26, personal pensions for policy support and commercial operations will implement personal income tax discounts. The payer is deducted before tax at a limit of 12,000 yuan per year. The investment income is not taxed for the time being.

The payer is deducted before taxing at a limit of 12,000 yuan per year. According to CICC, the deduction amount corresponds to the personal income tax of 360 yuan to 5,400 yuan. If the monthly salary level is 5,000 to 8,000 yuan, each year Pay personal pension for a maximum of 360 yuan for personal pensions; the monthly salary level exceeds 8,000 yuan and less than 17,000 yuan. Personal pensions can be paid every year for a tax exemption of 1,200 yuan. Pensions can be exempt from 5,400 yuan.

The drop in tax burden from personal pensions from 7.5%to 3%will help encourage low -income people to participate. It is reported that the tax rate of 7.5%of the tax rate is the relevant provisions of the tax extension of the elderly insurance. In 2018, the "Notice on the Pilot of Personal Tax Defending Commercial Pension Insurance Pilot" jointly issued by the Ministry of Finance and other five departments clearly stated that The commercial pension income received during the condition, 25%of them are exempt from tax, and the remaining 75%calculates personal income tax at a rate of 10%, which is equivalent to 7.5%of the tax rate paid in the future. Some researchers have suggested that the actual tax rate of 7.5%of the receiving phase of tax deferred nursing insurance pilots has greatly reduced the coverage of preferential tax policies. The number of people with a large number of low -income income is lower than the tax rate of tax delay pensions. If they participate, they will not only enjoy the tax -saving effect of tax deferred, but increase the tax burden. The significant reduction in tax rates for personal pensions will help encourage the participation of tax groups with low and medium -income income, expand the coverage of personal pensions, and better achieve policy goals. Shi Xiaojun, a professor at the School of Finance and Finance of Renmin University of China, told the media that 3%is equivalent to the tax rate of 5,000 to 8,000 yuan, which is very high.

In April of this year, the General Office of the State Council issued the "Opinions on Promoting the Development of Personal Pensions". The "Opinions" proposed that personal pension accounts are the basis for participating in the personal pension system and enjoying preferential tax policies. Participants pay personal pensions each year. The upper limit is 12,000 yuan, and you can use the personal pension paid to purchase financial products in accordance with the prescribed financial institutions or its sales channels entrusted in accordance with laws and compliance, and bear corresponding risks.

The executive meeting of the State Council also clarified that the investment income was not taxed for the time being. On the personal pension investment side, commercial banks, insurance institutions, public funds and other institutions have been laying up in advance. At present, Qingdao citizens can buy pilot products for exclusive commercial pension insurance and pension financial management. The pilot pilot pilot of specific pensions has also fallen in Qingdao and will launch pilot products in November. In addition, many commercial banks have launched a personal pension account in advance, and strictly wait to seize the blue ocean of personal pension finance. (Qingdao Daily/Guanhai Journalist Ding Qianqian)

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