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Jan 4, 2018
Proposed Law: Young Army Reservists to pay less taxes
MK Oded Forer (Yisrael Beyteynu) has a proposed a law that would lower the tax rate from 25% to 10% for young reservists, between the ages of 21-30.
If I understood it correctly, this proposal will apply to the payment received by reservists for their reserve duty - not for their entire salary all year round in their places of employment, but I am not sure.
Te proposal passed its initial reading, with a large majority, and will be prepared for further readings.
Forer explains that many reservists are not even earning an income level that reaches the minimum tax level. The reservists division of the army consists of mostly young people between these ages who are ofen students or working people working for lower salaries as they start their careers. Taking tax at a rate of 25% hurts these people in a skewed manner.
source: NRG
If I understood it correctly, this proposal will apply to the payment received by reservists for their reserve duty - not for their entire salary all year round in their places of employment, but I am not sure.
Te proposal passed its initial reading, with a large majority, and will be prepared for further readings.
Forer explains that many reservists are not even earning an income level that reaches the minimum tax level. The reservists division of the army consists of mostly young people between these ages who are ofen students or working people working for lower salaries as they start their careers. Taking tax at a rate of 25% hurts these people in a skewed manner.
source: NRG
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Since he admits that most young reservists aren't paying tax at all, it seems like a harmless, but also useless, law.
ReplyDeleteMK Bennett wants to waste time in schools indoctrinating thru the curricula the value of IDF service and loyalty to the State. How about all soldiers pay no taxes during and for the first five years after IDF service when their incomes are minuscule because they cannot find livable wage jobs in Israel. He should put his $ where his mouth is.
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