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Minimum exemption per descendant
In the taxable income base, in addition to the exempt personal minimum of 5,500 euros, the taxpayer can also benefit from other exemptions for each dependent descendant or ascendant without income greater than 8,000 euros. The amounts of the exemptions are:
2,400 euros per year for the first child (2,800 euros if he is less than three years old).
2,700 euros per year for the second.
4,000 euros per year for the third and 4,500 euros per year for the fourth and subsequent ones.
regional deductions
Do not forget to find out from your online tax advisor about the regional deductions and their requirements Australia WhatsApp Number List to access them. They can also be deductions for maternity, for schooling, for school supplies that you should not ignore to apply it to your annual income tax.At any beginning of the year it is convenient to be up to date with what is coming or about to come, especially if you are a self-employed worker. Below we detail the most important aspects that you should take into account if you are self-employed in 2020.
Closing financial year 2019 and beginning of 2020
The dawn of this new year for the self-employed is marked by the end of the 2019 financial year and by the start of a new one, that of 2020. January is the month in which the bulk of tax obligations are concentrated, or what is same, the presentation of the declarations and self-assessments of the fourth quarter and the annual summaries of 2019 .
The model 303, the 390, the 130 or the 115; These are just some of the tax models that as a self-employed person you are obliged to present. If you want to know the set of all tax obligations, we recommend reading this article on the presentation models in January before the Treasury.
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