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Income Tax 2023 is coming and many people want to know who should or should not declare, especially when linked to the salary limit.
If you are interested in learning about this subject, get ready, because this post was made for you. Here I will present everything you need to know about the subject and, of course, find out whether or not you should prepare to make your declaration.
Let's go?
What is Income Tax 2023?
Income Tax 2023 is a charge made by the Federal Revenue every year. However, not everyone must make a declaration. Normally, the focus is only on those who have earnings above the base value in 2022. Therefore, when you declare, the values are focused on expenses for 2022 only.
This is an alternative that the Federal Government uses to evaluate Brazilians' expenses. Furthermore, this is also the alternative to keep an eye on those who try to evade taxes.
The amounts are always paid according to income. The idea is that those who earn more, pay more, while those who have a lower income in the year, pay less.
Who needs to declare Income Tax 2023?
Those who need to declare Income Tax 2023 are people who had an annual income in 2022 above 28,559.70 or those who have monthly earnings greater than R$ 2,380. In this case, income is evaluated according to earnings linked to retirement, salary, pensions and rent.
Additionally, other people who must declare Income Tax 2023 are those who received any income that is exempt, non-taxable or taxed exclusively at source above R$ 40,000.00.
Finally, other people who must declare income tax are those who have gained some capital from assets or rights above the limit which is R$ 300 thousand and, of course, investors in the stock market, commodities or the like.
Does anyone with rural activity need to declare it?
Just like other income profiles, those who have rural activities also need to declare Income Tax 2023, but the amounts are different.
In this case, if you carry out rural activities as an individual, you must declare tax if your income is greater than R$ 142,798.50.
Furthermore, if you intend to compensate for any type of loss from rural activity that occurred in previous years or even in 2022, you must also make a declaration.
What's new in Tax 2023?
Now, in Income Tax in 2023 you have the chance to request a refund of your money through PIX, in addition to being able to use the pre-filled declaration.
The most interesting thing is that whoever makes the declaration in this way will be seen as a priority to receive the money back.
Of course, we cannot forget that declarants over 60 years of age, disabled people, people with serious illnesses and people whose source of income is teaching will receive priority first.
When will 2023 Income Tax refunds take place?
If you will have money to be refunded to your account after declaring your Tax, keep an eye on the following dates, as transfers will take place on these days:
- May 31, 2023;
- June 30, 2023;
- July 31, 2023;
- August 31, 2023;
- September 29, 2023.
Furthermore, with the change in laws, if you earn up to R$ 2,640.00, you will not pay any income tax and if you did, the money will be refunded.
Those who have a salary higher than that shown will have to pay the amounts above this mentioned.
What is the declaration deadline?
Now that you know whether or not you should file your income tax return in 2023, let's find out what the minimum and maximum date to declare is.
The deadline for sending documents can be from March 1st to April 30th. In other words, there are 60 days for the documents to be organized and the declaration to be made. However, the declaration can only be made from March 15th.
It is worth remembering that anyone who does not complete the declaration within the stipulated period and sends the documents only after the deadline will have to pay a fine of 1% per month of tax due.
With a minimum payment amount of R$ 165.74 and a maximum charge of 20% on the amount of tax due.
Now that you know how Income Tax will work, be sure to keep an eye on the final date so you don't have to pay more bills.
Furthermore, this is a great way for you to receive the amount owed back in case you paid more tax than you should have.
