Employees with a dependency ratio reached by Irpef – gross salaries exceeding $330,000 up to December and 404,000 since January – have until March 31st to access the AFIP website and upload form 572 with expenses 2022 and therefore they manage to pay less.
Although the form and the SIRADIG (Personal Income Tax Deductions Registration and Update System) are accessible throughout the year for the charging of permitted expenses, this month is the deadline that workers must enter e send to your employers information from last year.
Therefore, if in calculating, by subtracting the corresponding deductions and receipts, the worker has been deducted more Earnings than the corresponding ones, The company must pay back the difference with April’s salary.
What can be deducted from earnings
Dependent children or relatives
To deduct children or dependents, they must have CUIL and complete personal data.
educational expenses
This year, services and tools for educational purposes will be added to the traditional deductible items (school fees, library expenses, supplies or courses).
Are expenses for dependent children or children up to 24 yearsresidents of the country, pursuing regular or professional studies of an art or craft and have a net income not exceeding the non-taxable income ($252,564.84 in 2022 and $451,683.19 in 2023).
The deductible notions are the fees of public or private educational institutions incorporated in the art formal education at all levels and grades, and postgraduate for secondary, tertiary or university graduates. Services of dining, lodging and transportation accessories to the previous ones, supplied directly by the establishments with their own vehicles or those of others.
Fees can also be charged to tutorials on subjects included in the official educational plans and the kindergartens and gardens mother son. In addition, supplies, overalls and uniforms may be deducted.
The deduction will have a limit equivalent to 40% of the non-taxable profit: i.e. $101,025.94 in 2022 and $180,673.28 in 2023.
Health costs
The costs can be charged to prepaid medicines or complementary contributions to social benefits, corresponding to the employee and the persons indicated as dependents. The amount to be deducted for these items cannot exceed 5% of the cumulative net income for the year.
You can also deduct medical and paramedical expenses, dentists, speech therapists, kinesiologists, psychologists, etc; hospitalization in clinics, sanatoriums and ancillary hospitalization services, such as ambulance transfers.
Death insurance premiums
What is paid for life insurance can be deducted. In the case of mixed insurance, only the part that covers the risk of death can be deducted, with the exception of cases of private pension insurance managed by bodies supervised by the Superintendency of Insurance. This deduction is capped at $42,921.24 for 2022.
donations
Donations made to national, provincial and municipal tax bodies, religious bodies, associations, foundations and civil bodies may be deducted, provided they are recognized by AFIP as exempt from income tax.
Donations can be made in cash or in kind. When made in cash they must be cashed. The deduction can be made within the limit of 5% of the cumulative net profit for the year.
Interest on mortgage loans
You may include the amount of interest on mortgage loans for the purchase or construction of real estate for housing, up to the amount of $20,000 per year.
Burial expenses
Burial expenses may be deducted when they occur in the country and result from the death of the employee or one of your listed dependents, up to a maximum of $996.23.
rentals
Up to 40% of the rent is deductible, provided that amount does not exceed the non-taxable minimum of $252,564.84 in 2022 and $451,683.19 in 2023 and is a requirement that you not own a property at any percentage and to have the invoice issued by the landlord.
You must send a copy of the rental contract in PDF format through the SiRADIG-Worker Tax Code service. This must be done the first time the deduction is calculated and at each renewal of the contract.
domestic staff
Persons who have staff in private homes under their care can deduct wages and employer contributions paid. The deductible annual amount cannot exceed annual non-taxable income of $252,564.84 in 2022 and $451,683.19 in 2023.
Mutual guarantee company
The contributions paid by the promoter members to the Mutual Guarantee Companies will be deductible in the fiscal year in which they are paid, provided they remain in the company for a minimum period of two calendar years, counted from the date of their payment.
The deduction will apply to 100% of the contribution paid and must not in any case exceed this percentage. The degree of use of the provision for risks in granting the guarantee must be at least 80% on average over the period of permanence of the contributions.
The CUIT of the company and the contributions paid in the calendar year to be declared must be reported in this section. This information can be provided from the “deductions and allowances” tab and also from the “adjustments” tab.
Premiums covering the risk of death and savings premiums
Corresponding to mixed insurance, with the exception of cases of private pension insurance managed by entities subject to the supervision of the Insurance Superintendence, in which both premiums covering the risk of death and savings premiums will be deductible. The deduction will only be made until the $42,921.24 limit for 2022 is reached.
Brokers and street vendors
When they use their own car, they can deduct the tax depreciation of the vehicle and, if applicable, the interest on the debts related to its purchase. In the event that the vehicle is intended, in part, for private or other use, the proportion of these notions which corresponds to affecting the activity of broker or trader must be indicated.
Mobility and travel expenses to be paid by the employer
They can be deducted in the amounts established by the Collective Labor Agreement corresponding to the activity in question. If not stipulated conventionally, up to a maximum of 40% of the non-taxable profit can be deducted, provided that they are settled with a receipt or proof provided by the employer. To this end, the following detail should be considered: In the case of long-distance freight transport of more than 100 km, the deduction to be calculated cannot exceed the amount resulting from the 4-fold increase in the limit. The cap for 2022 will be $101,025.94 and for 2023 it will be $180,673.28.
long distance transportation
In the case of long-distance transport activities, the deduction to be calculated cannot exceed the amount of the non-taxable capital gain.
Clothing and equipment for exclusive use in the workplace
The deduction applies if the expenses are compulsory and are incurred by the employee rather than the employer, without the funds being reimbursed.
Contributions to pension insurance
They must be managed privately by subjects subject to the control of the Superintendency of Insurance. The deduction will be made only up to the $42,921.24 deduction in 2022.
Deductions entered by the employer
When they are tied to how much the employer acting as withholding agent pays, the employee will be exempt from reporting them, as the employer will. They include contributions to pension funds, levies, pensions or subsidies, as long as they are destined for ANSES or provincial or municipal funds.
Discounts for social benefits for employees and for persons declared to be dependents of the family. Also union dues, among other expenses, such as mobility and travel expenses incurred by the employer, up to a maximum of 40% of the non-taxable profit of $252,564.84 for the period 2022 and $451,683.19 for 2023.
Buying dollars or spending abroad
On Form 572, you can also upload receipts that banks have made for buying savings dollars or making credit card purchases overseas.
Source: Clarin
