The slim VAT 3 package introduced changes to PIT and other taxes. Basically, the amendment enters into force from Saturday, July 1, 2023, but in the field of PIT, some changes have been postponed to January 1, 2024. Moreover, the legislator decided that some changes will be applied to income for the entire year 2023. What is changing and from When? We translate.
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1. What about renting apartments by spouses?
Changes in PIT, or rather in a lump sum, will please spouses who rent real estate.
So far, each landlord has taxed rental income at a flat rate, at the rate of 8.5 percent. and 12.5 percent. The higher rate applies to income exceeding PLN 100,000. zloty. This limit covered both spouses.
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After the slim VAT amendment each spouse will have their own limit of 100,000. PLN, which in practice means that they will be entitled to a limit of PLN 200,000 in total. zloty. Spouses will therefore tax rental income at a higher rate (12.5%) only when their total rental income exceeds PLN 200,000. zloty.
Importantly, they must submit a relevant statement to the head of the tax office, and in addition the higher limit applies to spouses between whom there is community of property.
Changes enter into force from July 1, 2023, but apply to income (revenue) earned from January 1 this year.
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2. What will change in the PIT relief for children?
The Act also provides for changes to the child (pro-family) relief. They are beneficial for parents and carers bringing up one disabled child. The law provides that parents and guardians will be eligible for the relief regardless of their income.
Until now, there was an income limit (PLN 112,000 for spouses, PLN 56,000 for unmarried people and spouses who were in such an application for only part of the year), which meant that if parents exceeded it, they could not take advantage of the relief pro-family.
Parents and guardians of a disabled child will be able to take advantage of the relief already for 2023. The changes come into force from 1 July and apply to income (revenue) earned from 1 January 2023.
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3. What will change in the rehabilitation relief?
Changes will also be made to the rehabilitation relief. It will be available to taxpayers who have dependent disabled persons, e.g. a spouse, and his income does not exceed twelve times the amount of the social pension (from March 1, it is PLN 1,588.44 gross, PLN 1,445 net, twelve times in 2023 it is PLN 17,340 net).
Changes too will apply from July 1, but will apply to income earned from January 1, 2023.
4. The tax administration will also prepare PITs for self-employed persons
So far, the tax office has been preparing PIT-37 and PIT-38. From next year (February 15), it will also pre-prepare annual tax returns PIT-36 and PIT-36L, which are submitted by persons conducting business activity. Entrepreneurs will be able to check the tax return on their account in the e-Tax Office. However, it will not be a full declaration, so every entrepreneur will have to complete it. The tax office has only part of the data necessary to settle the annual PIT of entrepreneurs.
5. What will change in accounting for capital gains and losses?
The slim VAT 3 amendment in the scope of PIT also provides for the possibility of offsetting losses from investment funds with profits from shares.
Currently, the regulations do not allow for this. Income and losses from the sale of shares and investment funds are treated as capital gains, both are taxed at 19%. PIT, but the PIT Act requires them to be settled separately.
The tax on the sale of shares must be settled on general terms (Article 30b of the PIT Act), and the tax on the sale of participation units in funds in a lump sum (Article 30a of the PIT Act). In practice, this means e.g. no possibility to offset income and losses if, for example, the investor has income from shares and a loss from funds in a given year.
The changes in this regard will come into force on January 1, 2024.
Capital income it will be possible to compensate with losses from:
paid disposal of shares (shares) in a company, shares in a cooperative, securities, including paid disposal of securities on a regulated market under short sale; paid disposal of derivative financial instruments; exercise of rights arising from securities and derivative financial instruments; for taking up shares (shares) in a company or contributions to a cooperative in exchange for a contribution in kind; redemption, redemption, redemption or annihilation in any other way of participation titles in capital funds.
We have previously reported on the effects of these changes.
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2023-06-29 13:33:42
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